Fiduciary Trust Co Boosts Stake in Fiserv, Inc. (NYSE:FI)

Fiduciary Trust Co lifted its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,179 shares of the business services provider's stock after purchasing an additional 1,470 shares during the period. Fiduciary Trust Co's holdings in Fiserv were worth $5,994,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Marshall Investment Management LLC purchased a new position in shares of Fiserv in the 4th quarter valued at approximately $29,000. Valley National Advisers Inc. acquired a new stake in shares of Fiserv during the fourth quarter worth $29,000. Compass Financial Services Inc purchased a new position in Fiserv in the 4th quarter valued at $31,000. Campbell Capital Management Inc. acquired a new position in Fiserv in the 4th quarter valued at $37,000. Finally, Quarry LP raised its position in Fiserv by 51.9% during the 4th quarter. Quarry LP now owns 205 shares of the business services provider's stock worth $42,000 after buying an additional 70 shares during the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on FI shares. Seaport Res Ptn raised shares of Fiserv from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 14th. Morgan Stanley reaffirmed an "overweight" rating and issued a $268.00 price objective (up previously from $267.00) on shares of Fiserv in a report on Friday, April 25th. Wells Fargo & Company increased their target price on Fiserv from $240.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Monness Crespi & Hardt downgraded Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 price target on the stock. in a research note on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods cut their price objective on Fiserv from $260.00 to $240.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Two 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $230.00.

Insiders Place Their Bets

In related news, COO Guy Chiarello sold 45,000 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.74% of the company's stock.

Fiserv Price Performance

Shares of NYSE:FI traded up $4.18 on Tuesday, hitting $191.00. The company had a trading volume of 4,664,522 shares, compared to its average volume of 2,858,888. The company has a market cap of $105.90 billion, a PE ratio of 35.44, a PEG ratio of 1.52 and a beta of 0.97. The business has a 50 day moving average of $205.45 and a 200 day moving average of $211.07. 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 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.06. The business had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.86 billion. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The company's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.88 earnings per share. As a group, equities analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its board has authorized a share buyback program on Thursday, February 20th that authorizes the company to buyback 60,000,000 outstanding shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Fiserv 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.