Federated Hermes Inc. Decreases Stock Position in Fiserv, Inc. (NYSE:FI)

Federated Hermes Inc. decreased its stake in shares of Fiserv, Inc. (NYSE:FI) by 42.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,880 shares of the business services provider’s stock after selling 72,504 shares during the quarter. Federated Hermes Inc.’s holdings in Fiserv were worth $20,107,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Czech National Bank grew its stake in shares of Fiserv by 5.2% during the fourth quarter. Czech National Bank now owns 123,353 shares of the business services provider’s stock worth $25,339,000 after purchasing an additional 6,072 shares in the last quarter. Chiron Investment Management LLC purchased a new stake in Fiserv during the 3rd quarter worth about $4,709,000. Trust Co. of Vermont boosted its position in shares of Fiserv by 170.4% during the 4th quarter. Trust Co. of Vermont now owns 6,839 shares of the business services provider’s stock worth $1,405,000 after acquiring an additional 4,310 shares in the last quarter. Cardano Risk Management B.V. purchased a new position in shares of Fiserv in the 4th quarter valued at about $97,254,000. Finally, M&T Bank Corp raised its position in shares of Fiserv by 12.0% during the 3rd quarter. M&T Bank Corp now owns 140,460 shares of the business services provider’s stock worth $25,234,000 after acquiring an additional 15,103 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Stock Down 1.7 %

FI opened at $195.12 on Wednesday. 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, Inc. has a 12 month low of $145.98 and a 12 month high of $238.59. The stock has a market capitalization of $108.99 billion, a P/E ratio of 36.20, a P/E/G ratio of 1.52 and a beta of 0.91. The business has a 50 day simple moving average of $221.86 and a 200-day simple moving average of $209.81.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (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%. On average, equities analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its Board of Directors has initiated a stock buyback 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. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

FI has been the topic of several recent analyst reports. Morgan Stanley increased their price target on shares of Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Oppenheimer increased their target price on shares of Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. StockNews.com started coverage on shares of Fiserv in a research note on Sunday, March 23rd. They set a “buy” rating on the stock. BMO Capital Markets upped their price objective on shares of Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Stephens lifted their target price on Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. One 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, the stock has an average rating of “Buy” and an average price target of $243.64.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction dated 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 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 legal filing with the SEC, which is accessible through this link. 0.75% of the stock is owned by company insiders.

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.