Wellspring Financial Advisors LLC Cuts Holdings in Fiserv, Inc. (NYSE:FI)

Wellspring Financial Advisors LLC reduced its position in shares of Fiserv, Inc. (NYSE:FI) by 55.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,690 shares of the business services provider’s stock after selling 2,110 shares during the quarter. Wellspring Financial Advisors LLC’s holdings in Fiserv were worth $347,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in Fiserv by 1.9% in 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 during the period. FMR LLC grew its stake in Fiserv by 22.5% in the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider’s stock valued at $2,376,482,000 after acquiring an additional 2,126,419 shares during the period. Massachusetts Financial Services Co. MA increased its holdings 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 worth $1,649,705,000 after acquiring an additional 1,121,597 shares in the last quarter. Norges Bank acquired a new position in Fiserv during the fourth quarter worth $1,406,452,000. Finally, Alliancebernstein L.P. lifted its holdings in Fiserv by 65.6% during the fourth quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock valued at $1,116,919,000 after purchasing an additional 2,153,554 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FI. Stephens upped their price target on shares of Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Wells Fargo & Company raised their target price on Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Barclays boosted their price target on Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. The Goldman Sachs Group raised shares of 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, StockNews.com began coverage on shares of Fiserv in a research report on Sunday, March 23rd. They issued a “buy” rating for the company. One research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Fiserv presently has an average rating of “Buy” and a consensus price target of $243.64.

Fiserv Trading Down 8.4 %

Shares of FI stock opened at $198.77 on Monday. The company has a 50-day moving average of $222.85 and a two-hundred day moving average of $209.66. The firm has a market cap of $111.57 billion, a PE ratio of 36.88, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91. Fiserv, Inc. has a 1-year low of $145.98 and a 1-year high of $238.59. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07.

Fiserv (NYSE:FI) last posted its earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, beating 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%. On average, analysts predict that Fiserv, Inc. will post 10.23 EPS for the current 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 outstanding shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total value of $10,599,750.00. Following the completion of the transaction, the chief operating officer now owns 227,711 shares in the company, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company 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.