Envestnet Asset Management Inc. Sells 77,767 Shares of Fiserv, Inc. (NYSE:FI)

Envestnet Asset Management Inc. lessened its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 4.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,795,520 shares of the business services provider's stock after selling 77,767 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.32% of Fiserv worth $368,836,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Aviva PLC increased its holdings in Fiserv by 7.9% in the fourth quarter. Aviva PLC now owns 346,821 shares of the business services provider's stock worth $71,244,000 after purchasing an additional 25,256 shares in the last quarter. KCM Investment Advisors LLC lifted its stake in shares of Fiserv by 58.2% in the fourth quarter. KCM Investment Advisors LLC now owns 2,258 shares of the business services provider's stock valued at $464,000 after buying an additional 831 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new position in shares of Fiserv during the fourth quarter valued at about $36,296,000. Smith Moore & CO. increased its holdings in Fiserv by 2.3% during the 4th quarter. Smith Moore & CO. now owns 6,937 shares of the business services provider's stock worth $1,425,000 after purchasing an additional 155 shares in the last quarter. Finally, Broderick Brian C increased its holdings in Fiserv by 1.0% during the 4th quarter. Broderick Brian C now owns 97,810 shares of the business services provider's stock worth $20,092,000 after purchasing an additional 924 shares in the last quarter. Institutional investors own 90.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FI. Susquehanna increased their price target on Fiserv from $230.00 to $270.00 and gave the company a "positive" rating in a research report on Monday, February 10th. Stephens increased their target price on shares of Fiserv from $255.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Wells Fargo & Company boosted their price target on shares of Fiserv from $240.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. The Goldman Sachs Group upgraded shares of Fiserv from a "neutral" rating to a "buy" rating and increased their price objective for the company from $246.00 to $260.00 in a research note on Wednesday, April 2nd. Finally, Seaport Res Ptn upgraded Fiserv from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $239.35.

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Fiserv Price Performance

NYSE FI traded up $3.19 on Friday, hitting $207.57. The stock had a trading volume of 813,436 shares, compared to its average volume of 2,704,328. The firm has a 50-day moving average of $221.39 and a 200-day moving average of $210.22. The company has a market capitalization of $115.94 billion, a price-to-earnings ratio of 38.49, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91. 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, Inc. has a 52-week low of $145.98 and a 52-week high of $238.59.

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 (EPS) 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%. Equities analysts expect that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its board has approved a stock repurchase 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 purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $235.55, for a total transaction 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. The trade was a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.75% of the stock is currently owned by company insiders.

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.