Fiserv, Inc. (NYSE:FI) Stake Lowered by Selway Asset Management

Selway Asset Management trimmed its holdings in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 11.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,655 shares of the business services provider's stock after selling 4,350 shares during the quarter. Fiserv comprises about 2.8% of Selway Asset Management's holdings, making the stock its 8th largest position. Selway Asset Management's holdings in Fiserv were worth $7,119,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Fiserv during the 4th quarter valued at about $1,406,452,000. Raymond James Financial Inc. bought a new position in shares of Fiserv during the 4th quarter valued at $614,982,000. Alliancebernstein L.P. raised its position in Fiserv by 65.6% in the 4th quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider's stock worth $1,116,919,000 after purchasing an additional 2,153,554 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Fiserv by 16.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,030,889 shares of the business services provider's stock valued at $1,649,705,000 after buying an additional 1,121,597 shares during the period. Finally, Madison Investment Advisors LLC purchased a new position in shares of Fiserv in the fourth quarter worth about $134,710,000. 90.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on FI. Wells Fargo & Company lifted their price target on Fiserv from $240.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Barclays raised their price target on shares of Fiserv from $235.00 to $265.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Oppenheimer upped their price objective on shares of Fiserv from $214.00 to $239.00 and gave the company an "outperform" rating in a research note on Thursday, December 19th. Stephens boosted their price target on Fiserv from $255.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Finally, The Goldman Sachs Group upgraded Fiserv from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $246.00 to $260.00 in a research report on Wednesday, April 2nd. One analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Fiserv currently has an average rating of "Buy" and an average price target of $243.64.

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Fiserv Stock Performance

Shares of FI stock traded up $3.55 on Tuesday, reaching $201.99. The stock had a trading volume of 1,214,034 shares, compared to its average volume of 2,676,754. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. Fiserv, Inc. has a 1 year low of $145.98 and a 1 year high of $238.59. The stock has a market cap of $113.38 billion, a P/E ratio of 37.36, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91. The company has a 50 day simple moving average of $222.55 and a 200 day simple moving average of $209.79.

Fiserv (NYSE:FI - Get Free Report) last posted its earnings results 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 return on equity of 17.93% and a net margin of 15.31%. Equities research analysts expect that Fiserv, Inc. will post 10.23 EPS for the current year.

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

Insider Buying and Selling

In related news, COO Guy Chiarello sold 45,000 shares of the firm's stock in a transaction on 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.75% of the stock is currently owned by insiders.

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.