40,400 Shares in Fiserv, Inc. (NYSE:FI) Bought by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC bought a new stake in Fiserv, Inc. (NYSE:FI - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 40,400 shares of the business services provider's stock, valued at approximately $8,299,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jacobi Capital Management LLC grew its holdings in Fiserv by 0.4% in the 4th quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider's stock valued at $2,281,000 after buying an additional 44 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Fiserv by 1.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,862 shares of the business services provider's stock worth $794,000 after purchasing an additional 44 shares during the period. Parkside Financial Bank & Trust increased its stake in Fiserv by 1.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider's stock worth $841,000 after acquiring an additional 45 shares during the period. Catalina Capital Group LLC lifted its position in Fiserv by 2.3% during the fourth quarter. Catalina Capital Group LLC now owns 2,160 shares of the business services provider's stock worth $444,000 after purchasing an additional 48 shares during the period. Finally, Mount Yale Investment Advisors LLC grew its stake in Fiserv by 1.2% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 4,126 shares of the business services provider's stock worth $848,000 after buying an additional 50 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Fiserv Stock Down 1.5 %

Fiserv stock traded down $2.75 during trading on Wednesday, hitting $182.20. 3,483,124 shares of the company were exchanged, compared to its average volume of 2,820,663. The business's 50 day moving average is $208.15 and its 200 day moving average is $211.26. The company has a market capitalization of $101.02 billion, a P/E ratio of 33.80, a PEG ratio of 1.52 and a beta of 0.97. Fiserv, Inc. has a 52 week low of $146.25 and a 52 week high of $238.59. 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 results on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.06. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same period in the previous year, the firm earned $1.88 EPS. The firm's quarterly revenue was up 5.1% on a year-over-year basis. Analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current year.

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

Insider Activity

In other news, COO Guy Chiarello sold 45,000 shares of Fiserv 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 completion of the transaction, the chief operating officer now directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.74% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Susquehanna cut their price target on shares of Fiserv from $250.00 to $240.00 and set a "positive" rating for the company in a report on Friday, April 25th. Monness Crespi & Hardt cut shares of Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 target price for the company. in a report on Wednesday, April 9th. The Goldman Sachs Group raised shares of Fiserv from a "neutral" rating to a "buy" rating and lifted their price target for the company from $246.00 to $260.00 in a report on Wednesday, April 2nd. Seaport Res Ptn upgraded shares of Fiserv from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 14th. Finally, UBS Group lowered their price target on shares of Fiserv from $265.00 to $255.00 and set a "buy" rating for the company in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $230.00.

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.