Kendall Capital Management Lowers Stock Position in Fiserv, Inc. (NYSE:FI)

Kendall Capital Management reduced its stake in Fiserv, Inc. (NYSE:FI) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,073 shares of the business services provider’s stock after selling 75 shares during the quarter. Kendall Capital Management’s holdings in Fiserv were worth $3,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of FI. Valley National Advisers Inc. purchased a new stake in Fiserv in the fourth quarter valued at approximately $29,000. Marshall Investment Management LLC purchased a new position in shares of Fiserv during the fourth quarter worth approximately $29,000. Compass Financial Services Inc purchased a new position in shares of Fiserv during the fourth quarter worth approximately $31,000. Kennebec Savings Bank purchased a new position in shares of Fiserv during the third quarter worth approximately $40,000. Finally, Friedenthal Financial purchased a new position in shares of Fiserv during the fourth quarter worth approximately $49,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Stock Performance

Shares of FI stock opened at $218.04 on Friday. Fiserv, Inc. has a 12 month low of $145.98 and a 12 month high of $238.59. The stock has a market cap of $122.38 billion, a PE ratio of 40.45, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The company’s fifty day moving average price is $218.31 and its 200-day moving average price is $203.12.

Fiserv (NYSE:FI) last announced its earnings results on Wednesday, February 5th. The business services provider reported $2.51 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%. On average, equities analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its board has initiated a stock 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 buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have commented on FI shares. Citigroup lifted their price target on shares of Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. 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. The Goldman Sachs Group lifted their price target on shares of Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. 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. Finally, Oppenheimer raised their target price on shares of Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $239.83.

Insider Activity

In other news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction 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 owns 227,711 shares in the company, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.75% of the company’s stock.

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.