Fiserv, Inc. (NYSE:FI) Stock Position Lessened by Cornerstone Capital Inc.

Cornerstone Capital Inc. cut its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 13.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 105,602 shares of the business services provider's stock after selling 15,739 shares during the period. Fiserv makes up about 2.3% of Cornerstone Capital Inc.'s holdings, making the stock its 14th largest holding. Cornerstone Capital Inc.'s holdings in Fiserv were worth $21,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Czech National Bank increased its position in shares of Fiserv by 5.2% during the fourth quarter. Czech National Bank now owns 123,353 shares of the business services provider's stock valued at $25,339,000 after acquiring an additional 6,072 shares during the last quarter. Trust Co. of Vermont boosted its holdings in Fiserv by 170.4% in the fourth quarter. Trust Co. of Vermont now owns 6,839 shares of the business services provider's stock valued at $1,405,000 after purchasing an additional 4,310 shares in the last quarter. Cardano Risk Management B.V. acquired a new stake in Fiserv during the fourth quarter worth approximately $97,254,000. Root Financial Partners LLC purchased a new position in shares of Fiserv in the 4th quarter valued at $257,000. Finally, World Investment Advisors LLC raised its stake in Fiserv by 1,469.7% during the 3rd quarter. World Investment Advisors LLC now owns 55,802 shares of the business services provider's stock worth $10,025,000 after acquiring an additional 52,247 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company's stock.

Insider Activity

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the firm's stock in a transaction dated 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 owns 227,711 shares of the company's stock, valued at $53,637,326.05. This trade represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Royal Bank of Canada raised 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. Seaport Res Ptn upgraded Fiserv from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods lifted their price objective 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. Redburn Atlantic restated a "sell" rating and set a $150.00 price objective on shares of Fiserv in a research report on Thursday, April 17th. Finally, Susquehanna dropped their target price on Fiserv from $270.00 to $250.00 and set a "positive" rating on the stock in a research report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $234.79.

Fiserv Stock Down 17.5 %

Shares of FI stock traded down $37.95 during trading hours on Thursday, hitting $179.15. 12,029,464 shares of the company were exchanged, compared to its average volume of 3,249,609. The stock has a market capitalization of $100.07 billion, a price-to-earnings ratio of 33.17, a P/E/G ratio of 1.52 and a beta of 0.91. Fiserv, Inc. has a one year low of $146.25 and a one year high of $238.59. The business's 50-day simple moving average is $218.33 and its two-hundred day simple moving average is $211.91. 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 (NYSE:FI - Get Free Report) last released its earnings results on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, topping analysts' consensus estimates of $2.07 by $0.07. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. Sell-side analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its board has initiated a share 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 purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

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.