Fiserv, Inc. (NYSE:FI) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 42.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,880 shares of the business services provider's stock after selling 72,504 shares during the quarter. Federated Hermes Inc.'s holdings in Fiserv were worth $20,107,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Fiserv in the fourth quarter valued at approximately $1,406,452,000. Raymond James Financial Inc. acquired a new position in Fiserv in the 4th quarter valued at $614,982,000. Alliancebernstein L.P. lifted its stake in shares of Fiserv by 65.6% during the 4th quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider's stock worth $1,116,919,000 after purchasing an additional 2,153,554 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Fiserv by 16.2% during 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 purchasing an additional 1,121,597 shares during the last quarter. Finally, Madison Investment Advisors LLC purchased a new stake in shares of Fiserv in the fourth quarter valued at $134,710,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Fiserv Stock Up 2.2 %

FI stock traded up $4.48 during mid-day trading on Monday, hitting $212.62. 457,170 shares of the company were exchanged, compared to its average volume of 2,709,358. The firm has a fifty day simple moving average of $221.27 and a 200 day simple moving average of $210.67. The company has a market capitalization of $118.76 billion, a PE ratio of 39.45, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91. Fiserv, Inc. has a twelve month low of $145.98 and a twelve month high of $238.59. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86.

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Fiserv (NYSE:FI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, topping analysts' consensus estimates of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. On average, research analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its Board of Directors has initiated a share buyback program on Thursday, February 20th that allows the company to repurchase 60,000,000 outstanding shares. This repurchase authorization allows the business services provider to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Insider Activity at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the 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 sale, the chief operating officer now directly owns 227,711 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Barclays increased their target price on Fiserv from $235.00 to $265.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Seaport Res Ptn raised shares of Fiserv from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 14th. Oppenheimer upped their price target on shares of Fiserv from $214.00 to $239.00 and gave the stock an "outperform" rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods lifted their price target on shares of Fiserv from $238.00 to $260.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada upped their price objective on Fiserv from $255.00 to $270.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. One investment 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. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $239.35.

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.