Bank of Montreal Can Cuts Position in Fiserv, Inc. (NYSE:FI)

Bank of Montreal Can trimmed its holdings in Fiserv, Inc. (NYSE:FI - Free Report) by 11.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 663,906 shares of the business services provider's stock after selling 85,805 shares during the quarter. Bank of Montreal Can owned about 0.12% of Fiserv worth $136,380,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in FI. Marshall Investment Management LLC acquired a new stake in shares of Fiserv in the 4th quarter worth $29,000. Valley National Advisers Inc. purchased a new stake in shares of Fiserv in the 4th quarter valued at approximately $29,000. Compass Financial Services Inc purchased a new stake in shares of Fiserv during the 4th quarter valued at approximately $31,000. Campbell Capital Management Inc. purchased a new position in Fiserv in the fourth quarter worth approximately $37,000. Finally, Knuff & Co LLC purchased a new stake in Fiserv in the fourth quarter valued at $45,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FI has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price objective on Fiserv from $255.00 to $270.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Citigroup increased their price objective on shares of Fiserv from $230.00 to $233.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Seaport Res Ptn upgraded Fiserv from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 14th. BMO Capital Markets increased their target price on Fiserv from $233.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Finally, Keefe, Bruyette & Woods boosted 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. One research analyst has rated the stock with a sell rating, one has given a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $239.35.

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Insider Activity

In related news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total value of $10,599,750.00. Following the transaction, the chief operating officer now directly owns 227,711 shares in the company, valued at $53,637,326.05. This trade represents a 16.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.75% of the company's stock.

Fiserv Stock Performance

NYSE FI traded up $3.60 during trading hours on Friday, hitting $207.98. The company had a trading volume of 2,784,695 shares, compared to its average volume of 2,718,137. The business has a 50 day moving average of $221.27 and a 200-day moving average of $210.67. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. Fiserv, Inc. has a 1-year low of $145.98 and a 1-year high of $238.59. The company has a market cap of $116.17 billion, a PE ratio of 38.59, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91.

Fiserv (NYSE:FI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. As a group, equities research analysts expect that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its board has initiated a stock buyback program on Thursday, February 20th that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its stock is undervalued.

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.