Whittier Trust Co. Increases Stock Holdings in Fiserv, Inc. (NYSE:FI)

Whittier Trust Co. grew its holdings in shares of Fiserv, Inc. (NYSE:FI) by 2.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,312 shares of the business services provider’s stock after purchasing an additional 125 shares during the quarter. Whittier Trust Co.’s holdings in Fiserv were worth $1,091,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FI. Quest Partners LLC raised its stake in Fiserv by 72,800.0% during the 3rd quarter. Quest Partners LLC now owns 729 shares of the business services provider’s stock worth $131,000 after acquiring an additional 728 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Fiserv by 10.0% during the 3rd quarter. Pacer Advisors Inc. now owns 68,721 shares of the business services provider’s stock valued at $12,346,000 after buying an additional 6,266 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in shares of Fiserv by 16.1% during the 3rd quarter. Eagle Asset Management Inc. now owns 73,797 shares of the business services provider’s stock valued at $13,258,000 after buying an additional 10,232 shares in the last quarter. Raymond James Trust N.A. increased its stake in Fiserv by 10.4% in the 3rd quarter. Raymond James Trust N.A. now owns 21,208 shares of the business services provider’s stock worth $3,810,000 after buying an additional 2,001 shares in the last quarter. Finally, Meridian Wealth Management LLC purchased a new stake in Fiserv in the 3rd quarter worth $905,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Trading Down 1.7 %

NYSE:FI opened at $218.01 on Friday. The firm has a 50-day simple moving average of $220.46 and a 200-day simple moving average of $206.23. Fiserv, Inc. has a one year low of $145.98 and a one year high of $238.59. The firm has a market cap of $122.37 billion, a P/E ratio of 40.45, a P/E/G ratio of 1.52 and a beta of 0.93. 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 released its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, topping the consensus estimate of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. Equities analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its board has approved a share repurchase plan on Thursday, February 20th that allows the company to repurchase 60,000,000 shares. This repurchase authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts recently commented on FI shares. Stephens boosted their price target on Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Barclays boosted their target price on shares of Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Oppenheimer raised 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. Susquehanna boosted their price target on shares of Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, February 10th. Finally, BMO Capital Markets raised their price objective on Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $239.83.

Insider Buying and Selling at Fiserv

In other 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 completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.75% of the company’s stock.

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.