Price T Rowe Associates Inc. MD Cuts Stake in Fiserv, Inc. (NYSE:FI)

Price T Rowe Associates Inc. MD lessened its stake in shares of Fiserv, Inc. (NYSE:FI) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,017,957 shares of the business services provider’s stock after selling 1,155,042 shares during the period. Fiserv accounts for approximately 0.8% of Price T Rowe Associates Inc. MD’s investment portfolio, making the stock its 18th biggest position. Price T Rowe Associates Inc. MD owned approximately 5.98% of Fiserv worth $6,987,969,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jacobi Capital Management LLC raised its position in shares of Fiserv by 0.4% in the fourth quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider’s stock valued at $2,281,000 after buying an additional 44 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in Fiserv by 1.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider’s stock valued at $841,000 after acquiring an additional 45 shares during the last quarter. Catalina Capital Group LLC lifted its stake in Fiserv by 2.3% in the 4th quarter. Catalina Capital Group LLC now owns 2,160 shares of the business services provider’s stock worth $444,000 after purchasing an additional 48 shares in the last quarter. Mount Yale Investment Advisors LLC boosted its holdings in shares of Fiserv by 1.2% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 4,126 shares of the business services provider’s stock worth $848,000 after purchasing an additional 50 shares during the last quarter. Finally, Hemington Wealth Management grew its position in shares of Fiserv by 6.1% in the fourth quarter. Hemington Wealth Management now owns 864 shares of the business services provider’s stock valued at $177,000 after purchasing an additional 50 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Stock Performance

Shares of FI stock opened at $214.49 on Wednesday. The firm has a 50 day moving average of $218.60 and a two-hundred day moving average of $211.87. The stock has a market capitalization of $119.81 billion, a PE ratio of 39.79, a P/E/G ratio of 1.52 and a beta of 0.91. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. Fiserv, Inc. has a 52 week low of $146.25 and a 52 week high of $238.59.

Fiserv (NYSE:FI) last released its earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its board has approved a share repurchase plan on Thursday, February 20th that allows the company to repurchase 60,000,000 outstanding shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction 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 transaction, the chief operating officer now owns 227,711 shares of the company’s stock, valued at $53,637,326.05. This represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.75% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on FI shares. Susquehanna lowered their price objective on Fiserv from $270.00 to $250.00 and set a “positive” rating on the stock in a research note on Tuesday, April 15th. Royal Bank of Canada boosted their price target on shares of Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. BMO Capital Markets raised their price objective on shares of Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. KeyCorp boosted their target price on shares of Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, Citigroup raised their price target on shares of Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $234.79.

About Fiserv

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.