Delphi Management Inc. MA Cuts Stock Position in Fiserv, Inc. (NYSE:FI)

Delphi Management Inc. MA lessened its holdings in Fiserv, Inc. (NYSE:FI) by 15.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,389 shares of the business services provider’s stock after selling 1,378 shares during the quarter. Fiserv makes up about 1.5% of Delphi Management Inc. MA’s portfolio, making the stock its 24th biggest holding. Delphi Management Inc. MA’s holdings in Fiserv were worth $1,518,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Valley National Advisers Inc. purchased a new position in shares of Fiserv in the 4th quarter valued at $29,000. Marshall Investment Management LLC purchased 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 4th quarter worth $31,000. Campbell Capital Management Inc. purchased a new stake in Fiserv during the 4th quarter worth $37,000. Finally, Knuff & Co LLC purchased a new stake in Fiserv during the 4th quarter worth $45,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on FI. Wells Fargo & Company lifted their price target on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. BMO Capital Markets lifted their price target on shares of Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Keefe, Bruyette & Woods lifted their price target on shares of Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Royal Bank of Canada lifted their price target on shares of Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Oppenheimer lifted their price target on shares of Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Three analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $239.83.

Insider Buying and Selling at Fiserv

In other news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total value of $10,599,750.00. Following the completion of the sale, the chief operating officer now directly owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.75% of the stock is currently owned by company insiders.

Fiserv Trading Up 1.6 %

Fiserv stock opened at $218.05 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. The firm has a 50-day moving average price of $219.21 and a two-hundred day moving average price of $205.19. The firm has a market capitalization of $122.39 billion, a price-to-earnings ratio of 40.45, a PEG ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a 52-week low of $145.98 and a 52-week high of $238.59.

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 analysts’ consensus estimates 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 expect that Fiserv, Inc. will post 10.23 earnings per share for the current year.

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

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.