Townsend Asset Management Corp NC ADV Has $1.07 Million Position in Fiserv, Inc. (NYSE:FI)

Townsend Asset Management Corp NC ADV decreased its holdings in shares of Fiserv, Inc. (NYSE:FI) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,193 shares of the business services provider’s stock after selling 102 shares during the quarter. Townsend Asset Management Corp NC ADV’s holdings in Fiserv were worth $1,067,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FI. FMR LLC lifted its stake in shares of Fiserv by 17.8% during the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after buying an additional 1,427,664 shares during the last quarter. Sanders Capital LLC acquired a new stake in Fiserv during the third quarter worth approximately $764,543,000. Bank of New York Mellon Corp boosted its holdings in shares of Fiserv by 4.7% during the fourth quarter. Bank of New York Mellon Corp now owns 3,711,072 shares of the business services provider’s stock worth $762,328,000 after acquiring an additional 164,949 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Fiserv by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,620,785 shares of the business services provider’s stock valued at $743,782,000 after purchasing an additional 90,475 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Fiserv during the fourth quarter worth approximately $614,982,000. 90.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Compass Point began coverage on Fiserv in a research note on Wednesday, November 20th. They issued a “buy” rating and a $278.00 price target for the company. Susquehanna boosted their target price on shares of Fiserv from $230.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, February 10th. Morgan Stanley raised their price target on shares of Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. 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 report on Thursday, February 6th. Finally, The Goldman Sachs Group raised their target price on shares of Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Three research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Fiserv currently has an average rating of “Moderate Buy” and a consensus price target of $239.83.

Insider Activity at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the business’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 transaction of $10,599,750.00. Following the sale, the chief operating officer now directly owns 227,711 shares of the company’s stock, valued at $53,637,326.05. The trade was a 16.50 % decrease in their position. The transaction 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 Up 1.0 %

Shares of FI opened at $226.07 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. Fiserv, Inc. has a 52 week low of $145.98 and a 52 week high of $238.59. The stock has a market capitalization of $126.89 billion, a price-to-earnings ratio of 41.94, a PEG ratio of 1.52 and a beta of 0.93. The stock has a fifty day moving average of $217.92 and a 200-day moving average of $202.41.

Fiserv (NYSE:FI) last posted its earnings results on Wednesday, February 5th. The business services provider reported $2.51 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%. As a group, sell-side analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

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

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.