Nomura Asset Management Co. Ltd. Trims Holdings in Fiserv, Inc. (NYSE:FI)

Nomura Asset Management Co. Ltd. lowered its stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 170,170 shares of the business services provider's stock after selling 2,884 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Fiserv were worth $34,956,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of FI. Norges Bank bought a new stake in Fiserv during the fourth quarter valued at about $1,406,452,000. Raymond James Financial Inc. bought a new position in shares of Fiserv during the 4th quarter worth approximately $614,982,000. Madison Investment Advisors LLC purchased a new stake in Fiserv during the fourth quarter valued at approximately $134,710,000. Kovitz Investment Group Partners LLC boosted its stake in Fiserv by 788.7% in the third quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider's stock valued at $109,700,000 after acquiring an additional 561,377 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its holdings in Fiserv by 30,479.9% in the fourth quarter. Proficio Capital Partners LLC now owns 484,997 shares of the business services provider's stock worth $99,628,000 after purchasing an additional 483,411 shares during the last quarter. Institutional investors own 90.98% of the company's stock.

Analyst Ratings Changes

FI has been the subject of several analyst reports. Morgan Stanley increased their price objective on Fiserv from $258.00 to $267.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Susquehanna boosted their price objective on shares of Fiserv from $230.00 to $270.00 and gave the company a "positive" rating in a report on Monday, February 10th. The Goldman Sachs Group upgraded Fiserv from a "neutral" rating to a "buy" rating and raised their target price for the stock from $246.00 to $260.00 in a research note on Wednesday. Keefe, Bruyette & Woods boosted their price target on Fiserv from $238.00 to $260.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Finally, Seaport Res Ptn raised 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 hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $243.64.

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Fiserv Price Performance

FI traded up $2.80 during midday trading on Wednesday, hitting $224.81. 1,623,123 shares of the company traded hands, compared to its average volume of 3,008,271. The business has a 50 day simple moving average of $222.51 and a two-hundred day simple moving average of $208.84. Fiserv, Inc. has a 52-week low of $145.98 and a 52-week high of $238.59. The company has a market capitalization of $126.18 billion, a price-to-earnings ratio of 41.71, a PEG ratio of 1.52 and a beta of 0.93. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86.

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, topping 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%. On average, equities analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 20th that allows the company to buyback 60,000,000 shares. This buyback authorization allows the business services provider to buy shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Insider Activity at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of Fiserv 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 owns 227,711 shares of the company's stock, valued at $53,637,326.05. The trade was a 16.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.75% of the stock is owned by corporate insiders.

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.