Fiserv, Inc. (NYSE:FI) Holdings Decreased by Bell Asset Management Ltd

Bell Asset Management Ltd reduced its holdings in shares of Fiserv, Inc. (NYSE:FI) by 8.8% in the fourth quarter, HoldingsChannel reports. The fund owned 75,472 shares of the business services provider’s stock after selling 7,264 shares during the period. Fiserv accounts for 2.8% of Bell Asset Management Ltd’s portfolio, making the stock its 6th biggest holding. Bell Asset Management Ltd’s holdings in Fiserv were worth $15,503,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of FI. Norges Bank purchased a new stake in shares of Fiserv in the fourth quarter worth $1,406,452,000. Raymond James Financial Inc. purchased a new stake in Fiserv during the 4th quarter valued at about $614,982,000. Alliancebernstein L.P. grew its position in Fiserv by 65.6% during the 4th quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock valued at $1,116,919,000 after purchasing an additional 2,153,554 shares during the last quarter. FMR LLC increased its stake in Fiserv by 22.5% during the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider’s stock valued at $2,376,482,000 after purchasing an additional 2,126,419 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Fiserv by 16.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,030,889 shares of the business services provider’s stock worth $1,649,705,000 after buying an additional 1,121,597 shares during the last quarter. Institutional investors own 90.98% of the company’s stock.

Fiserv Price Performance

Shares of NYSE:FI opened at $198.77 on Monday. The company has a market capitalization of $111.57 billion, a P/E ratio of 36.88, a P/E/G ratio of 1.52 and a beta of 0.91. Fiserv, Inc. has a 1-year low of $145.98 and a 1-year high of $238.59. The firm’s 50 day simple moving average is $222.85 and its two-hundred day simple moving average is $209.66. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07.

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

Fiserv declared that its board has authorized a stock repurchase plan on Thursday, February 20th that permits the company to buyback 60,000,000 shares. This buyback authorization permits the business services provider to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, COO Guy Chiarello sold 45,000 shares of the company’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 completion of the transaction, the chief operating officer now owns 227,711 shares in the company, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.75% of the stock is currently owned by company insiders.

Analyst Ratings Changes

FI has been the subject of several analyst reports. The Goldman Sachs Group raised shares of Fiserv from a “neutral” rating to a “buy” rating and raised their price target for the company from $246.00 to $260.00 in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted their price target on Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Citigroup increased their price objective on Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Oppenheimer boosted their target price on Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Finally, BMO Capital Markets raised their price target on shares of Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $243.64.

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.