Provident Trust Co. Has $262.55 Million Stock Holdings in Fiserv, Inc. (NYSE:FI)

Provident Trust Co. increased its holdings in Fiserv, Inc. (NYSE:FI - Free Report) by 15.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,278,089 shares of the business services provider's stock after purchasing an additional 174,505 shares during the quarter. Fiserv accounts for 4.5% of Provident Trust Co.'s holdings, making the stock its 12th biggest position. Provident Trust Co. owned about 0.22% of Fiserv worth $262,545,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FI. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Fiserv during the fourth quarter valued at $222,000. Empower Advisory Group LLC raised its holdings in Fiserv by 7.6% during the 4th quarter. Empower Advisory Group LLC now owns 7,409 shares of the business services provider's stock worth $1,522,000 after buying an additional 522 shares during the period. CIBC Asset Management Inc lifted its stake in Fiserv by 0.7% during the fourth quarter. CIBC Asset Management Inc now owns 120,083 shares of the business services provider's stock valued at $24,667,000 after buying an additional 786 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Fiserv by 2.1% in the fourth quarter. Sanctuary Advisors LLC now owns 42,221 shares of the business services provider's stock worth $9,116,000 after buying an additional 866 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Fiserv by 0.8% in the fourth quarter. Principal Financial Group Inc. now owns 929,193 shares of the business services provider's stock worth $190,875,000 after acquiring an additional 7,183 shares in the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FI shares. Susquehanna raised their price objective on shares of Fiserv from $230.00 to $270.00 and gave the stock a "positive" rating in a research note on Monday, February 10th. Keefe, Bruyette & Woods increased their target price on Fiserv from $238.00 to $260.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Citigroup increased their target price on Fiserv from $230.00 to $233.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Compass Point began coverage on Fiserv in a report on Wednesday, November 20th. They issued a "buy" rating and a $278.00 target price for the company. Finally, Morgan Stanley increased their target price on Fiserv from $258.00 to $267.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $239.83.

Insiders Place Their Bets

In other news, COO Guy Chiarello sold 45,000 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $235.55, for a total value 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 this hyperlink. Company insiders own 0.75% of the company's stock.

Fiserv Stock Down 0.8 %

Fiserv stock traded down $1.96 during mid-day trading on Friday, hitting $232.47. 4,404,077 shares of the company's stock were exchanged, compared to its average volume of 2,787,555. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The stock has a market cap of $132.26 billion, a P/E ratio of 43.13, a P/E/G ratio of 1.53 and a beta of 0.94. Fiserv, Inc. has a 1-year low of $145.98 and a 1-year high of $237.99. The stock has a 50 day moving average of $213.81 and a two-hundred day moving average of $198.28.

Fiserv (NYSE:FI - Get Free Report) last posted its earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, topping the consensus estimate 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, analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

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

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.