Toronto Dominion Bank Sells 48,180 Shares of Fiserv, Inc. (NYSE:FI)

Toronto Dominion Bank decreased its holdings in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 24.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 147,442 shares of the business services provider's stock after selling 48,180 shares during the quarter. Toronto Dominion Bank's holdings in Fiserv were worth $30,287,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC grew its stake in shares of Fiserv by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 11,891,207 shares of the business services provider's stock valued at $2,435,280,000 after buying an additional 218,833 shares during the last quarter. FMR LLC grew its stake in Fiserv by 22.5% in the fourth 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 in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Fiserv by 16.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,030,889 shares of the business services provider's stock worth $1,649,705,000 after purchasing an additional 1,121,597 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Fiserv by 5.2% in the fourth quarter. Nuveen Asset Management LLC now owns 6,936,554 shares of the business services provider's stock worth $1,424,907,000 after purchasing an additional 340,938 shares in the last quarter. Finally, Norges Bank bought a new position in Fiserv in the fourth quarter worth approximately $1,406,452,000. Institutional investors own 90.98% of the company's stock.

Insiders Place Their Bets

In other news, COO Guy Chiarello sold 45,000 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $235.55, for a total transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.74% of the stock is owned by insiders.

Fiserv Price Performance

Shares of FI opened at $166.63 on Monday. The business's 50-day moving average is $202.24 and its two-hundred day moving average is $210.41. The company has a market capitalization of $92.38 billion, a P/E ratio of 30.91, a P/E/G ratio of 1.52 and a beta of 0.97. 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 fifty-two week low of $146.25 and a fifty-two week high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.06. The company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.86 billion. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the firm earned $1.88 EPS. Research analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv announced that its board has approved a share buyback plan on Thursday, February 20th that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on FI shares. StockNews.com started coverage on Fiserv in a research note on Sunday, March 23rd. They issued a "buy" rating on the stock. Barclays dropped their price objective on Fiserv from $265.00 to $230.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Piper Sandler set a $218.00 target price on Fiserv in a research report on Friday, April 25th. The Goldman Sachs Group raised Fiserv from a "neutral" rating to a "buy" rating and increased their target price for the company from $246.00 to $260.00 in a research report on Wednesday, April 2nd. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $268.00 target price (up previously from $267.00) on shares of Fiserv in a research 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 assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $230.00.

About Fiserv

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.

Want to see what other hedge funds are holding FI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fiserv, Inc. (NYSE:FI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.