Legato Capital Management LLC Sells 6,217 Shares of Fiserv, Inc. (NYSE:FI)

Legato Capital Management LLC reduced its position in shares of Fiserv, Inc. (NYSE:FI) by 44.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,676 shares of the business services provider’s stock after selling 6,217 shares during the quarter. Legato Capital Management LLC’s holdings in Fiserv were worth $1,577,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ritholtz Wealth Management lifted its position in Fiserv by 16.1% in the third quarter. Ritholtz Wealth Management now owns 4,112 shares of the business services provider’s stock worth $739,000 after buying an additional 569 shares during the last quarter. Carnegie Investment Counsel lifted its position in Fiserv by 5.8% in the third quarter. Carnegie Investment Counsel now owns 2,044 shares of the business services provider’s stock worth $367,000 after buying an additional 112 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in Fiserv in the third quarter worth $142,000. Sapient Capital LLC bought a new stake in Fiserv in the third quarter worth $1,294,000. Finally, CX Institutional lifted its position in Fiserv by 16.4% in the third quarter. CX Institutional now owns 56,440 shares of the business services provider’s stock worth $10,139,000 after buying an additional 7,943 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors.

Fiserv Price Performance

FI opened at $229.97 on Wednesday. The business’s 50-day moving average is $209.54 and its two-hundred day moving average is $194.77. Fiserv, Inc. has a 1 year low of $142.47 and a 1 year high of $233.26. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The firm has a market capitalization of $130.84 billion, a PE ratio of 42.67, a price-to-earnings-growth ratio of 1.52 and a beta of 0.94.

Fiserv (NYSE:FI) last posted its earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. Research analysts anticipate that Fiserv, Inc. will post 10.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FI shares. Keefe, Bruyette & Woods raised their price target on Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. increased their target price on Fiserv from $199.00 to $227.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada increased their target price on Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Jefferies Financial Group increased their target price on Fiserv from $195.00 to $200.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Finally, KeyCorp increased their target price on Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $239.83.

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.