Reynders McVeigh Capital Management LLC Sells 1,218 Shares of Fiserv, Inc. (NYSE:FI)

Reynders McVeigh Capital Management LLC lessened its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 3.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,136 shares of the business services provider's stock after selling 1,218 shares during the period. Reynders McVeigh Capital Management LLC's holdings in Fiserv were worth $7,012,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FI. Czech National Bank lifted its position in Fiserv by 5.2% in the fourth quarter. Czech National Bank now owns 123,353 shares of the business services provider's stock worth $25,339,000 after purchasing an additional 6,072 shares during the period. Trust Co. of Vermont boosted its stake in Fiserv by 170.4% during the fourth quarter. Trust Co. of Vermont now owns 6,839 shares of the business services provider's stock valued at $1,405,000 after buying an additional 4,310 shares in the last quarter. Cardano Risk Management B.V. acquired a new stake in Fiserv in the 4th quarter valued at about $97,254,000. Root Financial Partners LLC bought a new position in shares of Fiserv during the 4th quarter valued at about $257,000. Finally, World Investment Advisors LLC raised its holdings in shares of Fiserv by 1,469.7% in the 3rd quarter. World Investment Advisors LLC now owns 55,802 shares of the business services provider's stock worth $10,025,000 after purchasing an additional 52,247 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Insider Activity

In related news, COO Guy Chiarello sold 45,000 shares of the company'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 completion of the sale, the chief operating officer now owns 227,711 shares in the company, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.75% of the company's stock.

Fiserv Price Performance

Shares of FI stock traded down $1.60 during trading hours on Friday, reaching $208.51. 3,571,247 shares of the company were exchanged, compared to its average volume of 2,715,057. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The company has a market cap of $116.47 billion, a price-to-earnings ratio of 38.68, a P/E/G ratio of 1.52 and a beta of 0.91. The stock's fifty day moving average is $219.74 and its two-hundred day moving average is $211.11. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last released its earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, beating 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%. Sell-side 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 buyback plan on Thursday, February 20th that permits the company to repurchase 60,000,000 outstanding shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have issued reports on FI shares. Susquehanna dropped their price target on Fiserv from $270.00 to $250.00 and set a "positive" rating on the stock in a report on Tuesday. Monness Crespi & Hardt lowered Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 price target on the stock. in a research report on Wednesday, April 9th. Morgan Stanley lifted their target price on shares of Fiserv from $258.00 to $267.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. StockNews.com assumed coverage on shares of Fiserv in a research note on Sunday, March 23rd. They issued a "buy" rating on the stock. Finally, The Goldman Sachs Group raised Fiserv from a "neutral" rating to a "buy" rating and raised their price target for the stock from $246.00 to $260.00 in a research note on Wednesday, April 2nd. Two investment analysts have rated the stock with a sell rating, one has assigned 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 currently has an average rating of "Moderate Buy" and an average price target of $234.79.

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.