Fiserv, Inc. (NYSE:FI) Shares Sold by Azimuth Capital Investment Management LLC

Azimuth Capital Investment Management LLC decreased its holdings in shares of Fiserv, Inc. (NYSE:FI) by 0.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 162,095 shares of the business services provider’s stock after selling 1,232 shares during the period. Fiserv accounts for about 1.3% of Azimuth Capital Investment Management LLC’s investment portfolio, making the stock its 12th largest holding. Azimuth Capital Investment Management LLC’s holdings in Fiserv were worth $33,298,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of FI. Norges Bank bought a new stake in shares of Fiserv in the 4th quarter worth approximately $1,406,452,000. Raymond James Financial Inc. purchased a new position in shares of Fiserv during the fourth quarter valued at $614,982,000. Alliancebernstein L.P. increased its holdings in shares of Fiserv by 65.6% in the 4th quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock valued at $1,116,919,000 after purchasing an additional 2,153,554 shares during the period. FMR LLC increased its stake in shares of Fiserv by 22.5% in the fourth quarter. FMR LLC now owns 11,568,895 shares of the business services provider’s stock worth $2,376,482,000 after acquiring an additional 2,126,419 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Fiserv by 16.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,030,889 shares of the business services provider’s stock worth $1,649,705,000 after acquiring an additional 1,121,597 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on FI. Royal Bank of Canada boosted their target price on shares of Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods boosted their target price on shares of Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. KeyCorp lifted their price objective on Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. StockNews.com began coverage on Fiserv in a report on Sunday, March 23rd. They issued a “buy” rating for the company. Finally, Oppenheimer raised their price target on shares of Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $243.64.

Fiserv Stock Down 1.7 %

Fiserv stock opened at $195.12 on Wednesday. The firm has a market cap of $108.99 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 1.52 and a beta of 0.91. Fiserv, Inc. has a 52-week low of $145.98 and a 52-week high of $238.59. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. The firm has a 50 day moving average price of $221.86 and a two-hundred day moving average price of $209.81.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. Equities analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its board has authorized a stock repurchase plan on Thursday, February 20th that authorizes the company to repurchase 60,000,000 shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the transaction, the chief operating officer now owns 227,711 shares in the company, valued at $53,637,326.05. The trade was a 16.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.75% of the company’s stock.

Fiserv 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.