Renaissance Group LLC Sells 27,089 Shares of Fiserv, Inc. (NYSE:FI)

Renaissance Group LLC lowered its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 13.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 178,385 shares of the business services provider's stock after selling 27,089 shares during the quarter. Fiserv accounts for 1.5% of Renaissance Group LLC's holdings, making the stock its 17th biggest position. Renaissance Group LLC's holdings in Fiserv were worth $36,675,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other 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 sale, the chief operating officer now directly owns 227,711 shares of the company's stock, valued at approximately $53,637,326.05. This trade represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.75% of the company's stock.

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Fiserv Price Performance

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

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%. Equities research analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced 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. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have recently weighed in on FI shares. Keefe, Bruyette & Woods boosted their price objective 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. Susquehanna boosted their price target on Fiserv from $230.00 to $270.00 and gave the stock a "positive" rating in a research report on Monday, February 10th. Royal Bank of Canada upped their price objective on Fiserv from $255.00 to $270.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Citigroup lifted their target price on Fiserv from $230.00 to $233.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Finally, KeyCorp increased their price target on Fiserv from $250.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target 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.