Logan Capital Management Inc. Sells 4,355 Shares of Fiserv, Inc. (NYSE:FI)

Logan Capital Management Inc. cut its holdings in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,805 shares of the business services provider's stock after selling 4,355 shares during the quarter. Logan Capital Management Inc.'s holdings in Fiserv were worth $16,599,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in 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 purchasing an additional 218,833 shares in the last quarter. FMR LLC lifted its position 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 buying an additional 2,126,419 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Fiserv by 16.2% in the 4th 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 in the last quarter. Norges Bank acquired a new stake in Fiserv in the 4th quarter valued at $1,406,452,000. Finally, Northern Trust Corp grew its position in Fiserv by 19.5% in the fourth quarter. Northern Trust Corp now owns 6,206,720 shares of the business services provider's stock valued at $1,274,984,000 after acquiring an additional 1,014,126 shares during the period. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FI. Royal Bank of Canada set a $237.00 price objective on Fiserv in a report on Friday, April 25th. Citigroup cut their price target on shares of Fiserv from $267.00 to $240.00 and set a "buy" rating for the company in a report on Friday, April 25th. UBS Group reduced their price target on shares of Fiserv from $265.00 to $255.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Monness Crespi & Hardt lowered shares of Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 price objective for the company. in a report on Wednesday, April 9th. Finally, StockNews.com started coverage on shares of Fiserv in a research note on Sunday, March 23rd. They issued a "buy" rating for the company. 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $230.00.

Fiserv Trading Down 16.3%

FI stock traded down $30.91 during midday trading on Thursday, reaching $158.95. The stock had a trading volume of 23,331,656 shares, compared to its average volume of 2,952,655. The firm has a market cap of $88.13 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 1.52 and a beta of 0.97. Fiserv, Inc. has a twelve month low of $146.25 and a twelve month high of $238.59. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. The business has a fifty day simple moving average of $204.31 and a two-hundred day simple moving average of $210.78.

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 the consensus estimate of $2.08 by $0.06. The company had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.86 billion. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. Fiserv's revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.88 EPS. As a group, research analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other news, COO Guy Chiarello sold 45,000 shares of the business'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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.74% 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.