Fiserv, Inc. (NYSE:FI) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its stake in Fiserv, Inc. (NYSE:FI) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,795,520 shares of the business services provider’s stock after selling 77,767 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.32% of Fiserv worth $368,836,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FI. Valley National Advisers Inc. purchased a new stake in Fiserv in the 4th quarter worth approximately $29,000. Marshall Investment Management LLC acquired a new position in shares of Fiserv in the 4th quarter valued at $29,000. Compass Financial Services Inc purchased a new stake in Fiserv during the fourth quarter worth $31,000. Campbell Capital Management Inc. acquired a new stake in Fiserv during the fourth quarter valued at $37,000. Finally, Knuff & Co LLC purchased a new position in Fiserv in the fourth quarter valued at $45,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FI has been the topic of a number of analyst reports. BMO Capital Markets raised their target price on Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Susquehanna upped their price objective on shares of Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, February 10th. Stephens lifted their target price on shares of Fiserv from $255.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Citigroup boosted their target price on shares of Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Finally, Seaport Res Ptn raised shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. One analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $243.64.

Fiserv Trading Down 8.4 %

Shares of FI opened at $198.77 on Friday. Fiserv, Inc. has a 12-month low of $145.98 and a 12-month high of $238.59. The firm has a market capitalization of $111.57 billion, a P/E ratio of 36.88, a P/E/G ratio of 1.52 and a beta of 0.91. The firm has a 50-day moving average price of $222.85 and a 200 day moving average price of $209.42. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86.

Fiserv (NYSE:FI) last released its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, beating the consensus estimate of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. Sell-side analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its board has initiated a stock buyback program on Thursday, February 20th that permits the company to buyback 60,000,000 outstanding shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $235.55, for a total value of $10,599,750.00. Following the sale, the chief operating officer now owns 227,711 shares of the company’s stock, valued at $53,637,326.05. The trade was a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.75% of the company’s stock.

Fiserv Company Profile

Fiserv, Inc, together with its subsidiaries, provides payments and financial services technology services in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally. It operates through Merchant Acceptance, Financial Technology, and Payments and Network segments.