Baird Financial Group Inc. Decreases Stock Position in Fiserv, Inc. (NYSE:FI)

Baird Financial Group Inc. trimmed its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 3.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 862,131 shares of the business services provider's stock after selling 29,067 shares during the quarter. Baird Financial Group Inc. owned 0.15% of Fiserv worth $177,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in FI. Norges Bank bought a new position in shares of Fiserv in the fourth quarter worth approximately $1,406,452,000. Raymond James Financial Inc. purchased a new position in Fiserv in the fourth quarter worth about $614,982,000. Kovitz Investment Group Partners LLC raised its position in Fiserv by 343.7% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider's stock valued at $576,527,000 after purchasing an additional 2,174,025 shares during the period. Alliancebernstein L.P. raised its holdings in Fiserv by 65.6% during the 4th quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider's stock valued at $1,116,919,000 after buying an additional 2,153,554 shares during the period. Finally, FMR LLC boosted its stake in shares of Fiserv by 22.5% during the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider's stock worth $2,376,482,000 after purchasing an additional 2,126,419 shares during the period. Hedge funds and other institutional investors own 90.98% of the company's stock.

Fiserv Trading Down 1.5 %

FI stock traded down $2.75 during trading on Wednesday, reaching $182.20. 3,483,124 shares of the stock were exchanged, compared to its average volume of 2,820,663. Fiserv, Inc. has a 1 year low of $146.25 and a 1 year high of $238.59. The firm has a market capitalization of $101.02 billion, a price-to-earnings ratio of 33.80, a P/E/G ratio of 1.52 and a beta of 0.97. The business has a 50 day moving average price of $209.22 and a 200-day moving average price of $211.46. 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 issued its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.06. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The firm had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same period in the previous year, the firm earned $1.88 EPS. Fiserv's revenue was up 5.1% on a year-over-year basis. On average, research analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv declared that its Board of Directors 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 buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FI. KeyCorp raised their price target on Fiserv from $250.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Keefe, Bruyette & Woods decreased their price target on shares of Fiserv from $260.00 to $240.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Morgan Stanley reiterated an "overweight" rating and issued a $268.00 price target (up from $267.00) on shares of Fiserv in a research note on Friday, April 25th. Monness Crespi & Hardt lowered Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 target price for the company. in a research note on Wednesday, April 9th. Finally, Seaport Res Ptn raised shares of Fiserv from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $230.00.

Insider Activity at Fiserv

In other Fiserv 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 sale, the chief operating officer now directly owns 227,711 shares in the company, valued at $53,637,326.05. This trade represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.74% of the stock is currently owned by company 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.