Synovus Financial Corp Trims Stake in Fiserv, Inc. (NYSE:FI)

Synovus Financial Corp trimmed its holdings in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 47.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,586 shares of the business services provider's stock after selling 52,981 shares during the period. Synovus Financial Corp's holdings in Fiserv were worth $11,829,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of FI. Geode Capital Management LLC grew its holdings 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 raised its stake in shares of 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 during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of 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 last quarter. Norges Bank purchased a new stake in Fiserv in the 4th quarter valued at $1,406,452,000. Finally, Alliancebernstein L.P. lifted its stake 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 acquiring an additional 2,153,554 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Stephens increased their target price on shares of Fiserv from $255.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Susquehanna cut their target price on Fiserv from $270.00 to $250.00 and set a "positive" rating on the stock in a research note on Tuesday. Morgan Stanley lifted their price target on Fiserv from $258.00 to $267.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. The Goldman Sachs Group upgraded Fiserv from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $246.00 to $260.00 in a research note on Wednesday, April 2nd. Finally, Oppenheimer boosted their target price 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. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Fiserv currently has an average rating of "Moderate Buy" and a consensus target price of $234.79.

Fiserv Stock Down 0.8 %

Shares of FI stock traded down $1.60 during trading hours on Friday, hitting $208.51. 3,571,247 shares of the company's stock traded hands, compared to its average volume of 2,715,057. Fiserv, Inc. has a 12-month low of $145.98 and a 12-month high of $238.59. The stock has a market cap of $116.47 billion, a price-to-earnings ratio of 38.68, a PEG ratio of 1.52 and a beta of 0.91. The stock's fifty day simple moving average is $219.74 and its two-hundred day simple moving average is $211.11. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86.

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

Fiserv declared that its board has authorized a stock repurchase plan on Thursday, February 20th that permits the company to buyback 60,000,000 outstanding shares. This buyback authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the transaction, the chief operating officer now owns 227,711 shares in the company, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.75% of the company's stock.

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.