Obermeyer Wealth Partners Sells 500 Shares of Fiserv, Inc. (NYSE:FI)

Obermeyer Wealth Partners decreased its position in shares of Fiserv, Inc. (NYSE:FI) by 16.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,581 shares of the business services provider’s stock after selling 500 shares during the quarter. Obermeyer Wealth Partners’ holdings in Fiserv were worth $530,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Fiserv during the 4th quarter valued at about $1,406,452,000. Raymond James Financial Inc. bought a new position in Fiserv in the fourth quarter valued at approximately $614,982,000. Kovitz Investment Group Partners LLC lifted its stake in Fiserv by 343.7% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider’s stock valued at $576,527,000 after buying an additional 2,174,025 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Fiserv by 65.6% in the fourth quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock valued at $1,116,919,000 after buying an additional 2,153,554 shares in the last quarter. Finally, FMR LLC lifted its stake in Fiserv by 22.5% in the fourth quarter. FMR LLC now owns 11,568,895 shares of the business services provider’s stock valued at $2,376,482,000 after buying an additional 2,126,419 shares in the last quarter. 90.98% of the stock is owned by institutional investors.

Fiserv Stock Performance

Shares of NYSE FI opened at $191.00 on Wednesday. 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 stock’s fifty day moving average price is $204.87 and its two-hundred day moving average price is $210.93. Fiserv, Inc. has a one year low of $146.25 and a one year high of $238.59. The firm has a market cap of $105.90 billion, a price-to-earnings ratio of 35.44, a P/E/G ratio of 1.52 and a beta of 0.97.

Fiserv (NYSE:FI) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, beating the consensus estimate of $2.08 by $0.06. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The business had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same period in the prior year, the company posted $1.88 earnings per share. Fiserv’s revenue was up 5.1% compared to the same quarter last year. On average, equities analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 20th that authorizes the company to repurchase 60,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the firm’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 sale, the chief operating officer now owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. This trade represents a 16.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.74% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FI has been the topic of several research reports. Susquehanna cut their price objective on shares of Fiserv from $250.00 to $240.00 and set a “positive” rating on the stock in a research report on Friday, April 25th. Keefe, Bruyette & Woods cut their target price on Fiserv from $260.00 to $240.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Seaport Res Ptn upgraded Fiserv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. BMO Capital Markets cut their price objective on shares of Fiserv from $254.00 to $232.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Finally, The Goldman Sachs Group raised shares of Fiserv from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $246.00 to $260.00 in a research report on Wednesday, April 2nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Fiserv has an average rating of “Moderate Buy” and an average target price of $230.00.

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.