Fiserv, Inc. (NYSE:FI) Shares Sold by Hemenway Trust Co LLC

Hemenway Trust Co LLC lowered its stake in Fiserv, Inc. (NYSE:FI) by 5.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 255,548 shares of the business services provider’s stock after selling 14,398 shares during the quarter. Fiserv accounts for about 4.3% of Hemenway Trust Co LLC’s portfolio, making the stock its 7th biggest holding. Hemenway Trust Co LLC’s holdings in Fiserv were worth $52,495,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. IHT Wealth Management LLC lifted its stake in Fiserv by 31.7% in the 3rd quarter. IHT Wealth Management LLC now owns 3,056 shares of the business services provider’s stock valued at $551,000 after buying an additional 735 shares in the last quarter. Royal London Asset Management Ltd. raised its holdings in shares of Fiserv by 3.7% during the third quarter. Royal London Asset Management Ltd. now owns 259,264 shares of the business services provider’s stock valued at $46,577,000 after acquiring an additional 9,274 shares during the last quarter. Quantinno Capital Management LP raised its stake in Fiserv by 19.6% in the 3rd quarter. Quantinno Capital Management LP now owns 40,972 shares of the business services provider’s stock valued at $7,361,000 after purchasing an additional 6,722 shares during the last quarter. Stifel Financial Corp lifted its holdings in Fiserv by 10.5% in the 3rd quarter. Stifel Financial Corp now owns 279,469 shares of the business services provider’s stock valued at $50,207,000 after purchasing an additional 26,459 shares in the last quarter. Finally, Sora Investors LLC acquired a new stake in Fiserv during the 3rd quarter worth $8,131,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the firm’s stock in a transaction on 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 directly owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. This trade represents a 16.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.75% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Barclays boosted their target price on Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. The Goldman Sachs Group raised Fiserv from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $246.00 to $260.00 in a research note on Wednesday. KeyCorp raised their target price on Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company boosted their price target on shares of Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $243.64.

Fiserv Stock Down 8.4 %

FI stock opened at $198.77 on Friday. The company’s 50 day moving average is $222.85 and its two-hundred day moving average is $209.18. Fiserv, Inc. has a twelve month low of $145.98 and a twelve month high of $238.59. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The stock has a market cap of $111.57 billion, a P/E ratio of 36.88, a PEG ratio of 1.52 and a beta of 0.91.

Fiserv (NYSE:FI) last announced 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 net margin of 15.31% and a return on equity of 17.93%. Research analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its board has authorized a share repurchase program on Thursday, February 20th that authorizes the company to buyback 60,000,000 shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management 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.