Boston Partners Cuts Stock Position in Fiserv, Inc. (NYSE:FI)

Boston Partners trimmed its position in shares of Fiserv, Inc. (NYSE:FI) by 37.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,471 shares of the business services provider’s stock after selling 3,850 shares during the quarter. Boston Partners’ holdings in Fiserv were worth $1,329,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Sanders Capital LLC purchased a new stake in Fiserv during the 3rd quarter worth approximately $764,543,000. Raymond James Financial Inc. purchased a new stake in shares of Fiserv during the 4th quarter worth $614,982,000. FMR LLC boosted its position in shares of Fiserv by 17.8% during the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after acquiring an additional 1,427,664 shares in the last quarter. Madison Investment Advisors LLC acquired a new stake in Fiserv during the 4th quarter worth $134,710,000. Finally, Kovitz Investment Group Partners LLC boosted its stake in Fiserv by 788.7% in the third quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock valued at $109,700,000 after acquiring an additional 561,377 shares in the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Barclays upped their price target on shares of Fiserv from $235.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Royal Bank of Canada boosted their price target on Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. The Goldman Sachs Group upped their price objective on Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods lifted their target price on Fiserv from $238.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Citigroup increased their price target on Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Fiserv presently has a consensus rating of “Moderate Buy” and an average target price of $239.83.

Insider Transactions at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction on 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 owns 227,711 shares of the company’s stock, valued at $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 0.75% of the company’s stock.

Fiserv Stock Down 1.7 %

Fiserv stock opened at $218.01 on Friday. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $238.59. The firm has a market capitalization of $122.37 billion, a price-to-earnings ratio of 40.45, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The stock’s fifty day moving average is $220.46 and its two-hundred day moving average is $206.23. 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 (NYSE:FI) last issued its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 EPS 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%. Analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its board has initiated a stock buyback 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 purchase 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.

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.