Intech Investment Management LLC Sells 9,969 Shares of Fiserv, Inc. (NYSE:FI)

Intech Investment Management LLC reduced its stake in shares of Fiserv, Inc. (NYSE:FI) by 20.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,260 shares of the business services provider’s stock after selling 9,969 shares during the period. Intech Investment Management LLC’s holdings in Fiserv were worth $8,065,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FMR LLC boosted its stake in shares of Fiserv by 17.8% in the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after purchasing an additional 1,427,664 shares during the last quarter. Sanders Capital LLC bought a new stake in Fiserv during the third quarter valued at $764,543,000. Bank of New York Mellon Corp grew its holdings in Fiserv by 4.7% during the 4th 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. raised its position in shares of Fiserv by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,620,785 shares of the business services provider’s stock worth $743,782,000 after acquiring an additional 90,475 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Fiserv in the fourth quarter worth approximately $614,982,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FI has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their target price 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. Susquehanna increased their price objective on shares of Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, February 10th. Oppenheimer raised their target price on Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Royal Bank of Canada upped their price target on Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, BMO Capital Markets boosted their price objective on Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.83.

Fiserv Trading Down 0.6 %

Shares of Fiserv stock opened at $216.77 on Wednesday. The firm has a market cap of $121.67 billion, a PE ratio of 40.22, a P/E/G ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a 1 year low of $145.98 and a 1 year high of $238.59. 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 has a fifty day moving average price of $219.47 and a 200-day moving average price of $205.48.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) 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%. Equities research analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its Board of Directors has authorized a share repurchase program on Thursday, February 20th that allows the company to buyback 60,000,000 shares. This buyback authorization allows the business services provider to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction dated 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 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. This trade represents a 16.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.75% of the stock is currently owned by insiders.

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.