IHT Wealth Management LLC Reduces Holdings in Fiserv, Inc. (NYSE:FI)

IHT Wealth Management LLC lessened its stake in Fiserv, Inc. (NYSE:FI) by 22.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,363 shares of the business services provider’s stock after selling 693 shares during the period. IHT Wealth Management LLC’s holdings in Fiserv were worth $485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in Fiserv by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 11,891,207 shares of the business services provider’s stock worth $2,435,280,000 after buying an additional 218,833 shares during the last quarter. FMR LLC increased its holdings in shares of Fiserv by 22.5% in the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider’s stock valued at $2,376,482,000 after acquiring an additional 2,126,419 shares during the period. Massachusetts Financial Services Co. MA raised its position in Fiserv by 16.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,030,889 shares of the business services provider’s stock valued at $1,649,705,000 after purchasing an additional 1,121,597 shares during the last quarter. Norges Bank acquired a new stake in Fiserv during the 4th quarter worth $1,406,452,000. Finally, Alliancebernstein L.P. grew its position in Fiserv by 65.6% during the 4th quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock worth $1,116,919,000 after purchasing an additional 2,153,554 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Price Performance

Shares of NYSE:FI opened at $177.55 on Friday. 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 business’s fifty day moving average price is $216.08 and its two-hundred day moving average price is $211.78. The stock has a market cap of $99.17 billion, a PE ratio of 32.94, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91. Fiserv, Inc. has a one year low of $146.25 and a one year high of $238.59.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.06. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.86 billion. On average, analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its Board of Directors has authorized a stock buyback program on Thursday, February 20th that authorizes the company to buyback 60,000,000 outstanding shares. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, COO Guy Chiarello sold 45,000 shares of the company’s 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 completion of the transaction, the chief operating officer now directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Monness Crespi & Hardt downgraded shares of Fiserv from a “neutral” rating to a “sell” rating and set a $145.00 target price for the company. in a research note on Wednesday, April 9th. Keefe, Bruyette & Woods decreased their price objective on Fiserv from $260.00 to $240.00 and set an “outperform” rating for the company in a research report on Friday. The Goldman Sachs Group raised Fiserv from a “neutral” rating to a “buy” rating and boosted their target price for the company from $246.00 to $260.00 in a report on Wednesday, April 2nd. Seaport Res Ptn raised Fiserv from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $268.00 price objective (up from $267.00) on shares of Fiserv in a research note on Friday. Two analysts have rated the stock with a sell rating, one has given a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $233.33.

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.