Baxter Bros Inc. Reduces Stock Position in Fiserv, Inc. (NYSE:FI)

Baxter Bros Inc. lowered its stake in shares of Fiserv, Inc. (NYSE:FI) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,445 shares of the business services provider’s stock after selling 373 shares during the quarter. Fiserv makes up about 0.9% of Baxter Bros Inc.’s investment portfolio, making the stock its 29th largest holding. Baxter Bros Inc.’s holdings in Fiserv were worth $7,076,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Sanders Capital LLC bought a new stake in Fiserv during the third quarter valued at $764,543,000. Raymond James Financial Inc. acquired a new stake in shares of Fiserv during the 4th quarter worth approximately $614,982,000. FMR LLC boosted its position in Fiserv by 17.8% during 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 period. Madison Investment Advisors LLC bought a new stake in Fiserv in the fourth quarter valued at $134,710,000. Finally, Kovitz Investment Group Partners LLC increased its holdings in shares of Fiserv by 788.7% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock worth $109,700,000 after acquiring an additional 561,377 shares during the period. Institutional investors own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Morgan Stanley upped their target price 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. BMO Capital Markets lifted their target price on Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. StockNews.com cut Fiserv from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Citigroup lifted their price objective on shares of Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods increased 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. Three analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Fiserv currently has a consensus rating of “Moderate Buy” and an average price target of $239.83.

Fiserv Trading Up 1.7 %

Fiserv stock opened at $221.90 on Tuesday. Fiserv, Inc. has a one year low of $145.98 and a one year high of $238.59. The company’s fifty day moving average price is $220.87 and its two-hundred day moving average price is $206.81. 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 company has a market capitalization of $124.55 billion, a price-to-earnings ratio of 41.17, a PEG ratio of 1.52 and a beta of 0.93.

Fiserv (NYSE:FI) last issued its quarterly earnings data 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 return on equity of 17.93% and a net margin of 15.31%. On average, analysts forecast that Fiserv, Inc. will post 10.23 earnings per share 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 buyback 60,000,000 outstanding shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Insider Activity

In related 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 transaction, 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 is available through this hyperlink. 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.