Fiserv, Inc. (NYSE:FI) Holdings Trimmed by Provident Investment Management Inc.

Provident Investment Management Inc. cut its holdings in Fiserv, Inc. (NYSE:FI) by 0.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 208,837 shares of the business services provider’s stock after selling 1,405 shares during the quarter. Fiserv accounts for about 4.1% of Provident Investment Management Inc.’s portfolio, making the stock its 13th biggest position. Provident Investment Management Inc.’s holdings in Fiserv were worth $42,899,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Valley National Advisers Inc. bought a new stake in shares of Fiserv during the 4th quarter worth $29,000. Marshall Investment Management LLC acquired a new stake in shares of Fiserv during the fourth quarter worth $29,000. Compass Financial Services Inc purchased a new stake in shares of Fiserv during the fourth quarter valued at $31,000. Campbell Capital Management Inc. acquired a new position in shares of Fiserv in the 4th quarter valued at $37,000. Finally, Knuff & Co LLC purchased a new position in Fiserv in the 4th quarter worth about $45,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Fiserv Trading Down 4.1 %

Shares of FI stock opened at $216.77 on Friday. The business’s 50 day moving average is $223.06 and its two-hundred day moving average is $209.02. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. Fiserv, Inc. has a 12 month low of $145.98 and a 12 month high of $238.59. The company has a market cap of $121.67 billion, a PE ratio of 40.22, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

Fiserv (NYSE:FI) last announced its earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, topping the consensus estimate of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. Equities analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its board has approved a stock buyback plan on Thursday, February 20th that authorizes the company to buyback 60,000,000 shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Fiserv

In other news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction that occurred on 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 directly owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.75% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Susquehanna raised their price objective on shares of Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, February 10th. Oppenheimer boosted their target price on shares of Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. The Goldman Sachs Group upgraded Fiserv from a “neutral” rating to a “buy” rating and increased their target price for the company from $246.00 to $260.00 in a report on Wednesday. Finally, Keefe, Bruyette & Woods increased their price objective on Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. One research analyst has 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, the company presently has an average rating of “Buy” and a consensus target price of $243.64.

Fiserv Company 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.