Centricity Wealth Management LLC Invests $79,000 in Fiserv, Inc. (NYSE:FI)

Centricity Wealth Management LLC acquired a new stake in Fiserv, Inc. (NYSE:FI) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 384 shares of the business services provider’s stock, valued at approximately $79,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Valley National Advisers Inc. purchased a new stake in shares of Fiserv in the 4th quarter valued at approximately $29,000. Compass Financial Services Inc purchased a new stake in shares of Fiserv in the fourth quarter valued at $31,000. Kennebec Savings Bank purchased a new stake in shares of Fiserv in the third quarter valued at $40,000. Friedenthal Financial acquired a new stake in shares of Fiserv in the fourth quarter worth $49,000. Finally, Eastern Bank purchased a new position in shares of Fiserv during the third quarter valued at $50,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insider Activity

In other news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction dated 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 owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.75% of the stock is owned by company insiders.

Fiserv Stock Down 0.8 %

FI opened at $232.47 on Friday. The firm has a market cap of $132.26 billion, a P/E ratio of 43.13, a price-to-earnings-growth ratio of 1.53 and a beta of 0.94. 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 has a 50 day moving average price of $213.81 and a 200 day moving average price of $198.28. Fiserv, Inc. has a twelve month low of $145.98 and a twelve month high of $237.99.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, topping 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%. Research 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 program on Thursday, February 20th that permits the company to buyback 60,000,000 outstanding shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FI. Citigroup increased their price objective on Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Compass Point started coverage on shares of Fiserv in a research report on Wednesday, November 20th. They issued a “buy” rating and a $278.00 price target for the company. Keefe, Bruyette & Woods boosted their price objective on shares of Fiserv from $238.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Royal Bank of Canada increased their target price on shares of Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Susquehanna lifted their target price on shares of Fiserv from $230.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, February 10th. Two research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Fiserv currently has a consensus rating of “Buy” and an average target price of $239.83.

Fiserv 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.