Fiserv, Inc. (NYSE:FI) Shares Sold by Bell Asset Management Ltd

Bell Asset Management Ltd lowered its holdings in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 8.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 investment portfolio, making the stock its 6th largest holding. Bell Asset Management Ltd's holdings in Fiserv were worth $15,503,000 as of its most recent SEC filing.

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

Fiserv Trading Up 1.8 %

Shares of NYSE:FI traded up $3.60 during midday trading on Friday, reaching $207.98. The company's stock had a trading volume of 2,784,695 shares, compared to its average volume of 2,715,748. The business has a 50 day moving average price of $221.27 and a 200 day moving average price of $210.44. Fiserv, Inc. has a 1 year low of $145.98 and a 1 year high of $238.59. The firm has a market cap of $116.17 billion, a price-to-earnings ratio of 38.59, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86.

Remove Ads

Fiserv (NYSE:FI - Get Free Report) last posted 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 net margin of 15.31% and a return on equity of 17.93%. Research analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its Board of Directors has approved a share repurchase program on Thursday, February 20th that permits the company to repurchase 60,000,000 outstanding shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FI. Royal Bank of Canada increased 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. Oppenheimer raised their price objective 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. KeyCorp upped their target price on shares of Fiserv from $250.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Monness Crespi & Hardt downgraded shares of Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 price target for the company. in a research report on Wednesday. Finally, Seaport Res Ptn upgraded Fiserv from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Fiserv currently has a consensus rating of "Moderate Buy" and an average price target of $239.35.

Insider Buying and Selling

In other news, COO Guy Chiarello sold 45,000 shares of the company's stock in a transaction dated 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 owns 227,711 shares of the company's stock, valued at $53,637,326.05. This represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.75% of the company's stock.

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.