Intech Investment Management LLC Lowers Stake in Fiserv, Inc. (NYSE:FI)

Intech Investment Management LLC reduced its position in Fiserv, Inc. (NYSE:FI - Free Report) by 20.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,260 shares of the business services provider's stock after selling 9,969 shares during the period. Intech Investment Management LLC's holdings in Fiserv were worth $8,065,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FI. Sanders Capital LLC purchased a new position in shares of Fiserv in the 3rd quarter worth $764,543,000. Raymond James Financial Inc. bought a new position in Fiserv in the fourth quarter valued at about $614,982,000. FMR LLC boosted its position in Fiserv by 17.8% in the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider's stock worth $1,696,341,000 after purchasing an additional 1,427,664 shares during the last quarter. Madison Investment Advisors LLC bought a new stake in shares of Fiserv during the 4th quarter valued at about $134,710,000. Finally, Kovitz Investment Group Partners LLC grew its stake in shares of Fiserv by 788.7% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider's stock valued at $109,700,000 after purchasing an additional 561,377 shares during the period. 90.98% of the stock is owned by institutional investors.

Fiserv Trading Down 1.7 %

Shares of Fiserv stock traded down $3.78 on Friday, reaching $218.01. The company had a trading volume of 3,537,416 shares, compared to its average volume of 2,522,943. The firm's 50-day moving average price is $220.46 and its two-hundred day moving average price is $206.23. 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 $122.37 billion, a price-to-earnings ratio of 40.45, a P/E/G ratio of 1.52 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07.

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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 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%. As a group, research analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its board has initiated a stock repurchase plan on Thursday, February 20th that authorizes the company to repurchase 60,000,000 shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several analysts recently issued reports on FI shares. Wells Fargo & Company boosted their target price on shares of Fiserv from $240.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. BMO Capital Markets boosted their price objective on shares of Fiserv from $233.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. StockNews.com cut Fiserv from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Citigroup boosted their price target on Fiserv from $230.00 to $233.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Finally, Susquehanna raised their price objective on Fiserv from $230.00 to $270.00 and gave the stock a "positive" rating in a research note on Monday, February 10th. Three analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Fiserv has an average rating of "Moderate Buy" and an average target price of $239.83.

Insider Buying and Selling at Fiserv

In other news, COO Guy Chiarello sold 45,000 shares of the business's 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 completion of the sale, the chief operating officer now directly owns 227,711 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.75% of the company's stock.

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.