Transcend Capital Advisors LLC Sells 327 Shares of Fiserv, Inc. (NYSE:FI)

Transcend Capital Advisors LLC reduced its stake in shares of Fiserv, Inc. (NYSE:FI) by 4.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,642 shares of the business services provider’s stock after selling 327 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Fiserv were worth $1,364,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FI. FMR LLC boosted its stake in Fiserv by 17.8% in the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after buying an additional 1,427,664 shares in the last quarter. Sanders Capital LLC bought a new stake in Fiserv in the third quarter worth $764,543,000. Barclays PLC boosted its position in Fiserv by 3.0% during the third quarter. Barclays PLC now owns 1,685,157 shares of the business services provider’s stock valued at $302,737,000 after buying an additional 48,413 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Fiserv by 0.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,317,778 shares of the business services provider’s stock worth $236,739,000 after buying an additional 4,218 shares during the period. Finally, Provident Trust Co. boosted its holdings in Fiserv by 15.8% during the 4th quarter. Provident Trust Co. now owns 1,278,089 shares of the business services provider’s stock valued at $262,545,000 after acquiring an additional 174,505 shares during the period. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FI shares. The Goldman Sachs Group boosted their price objective on shares of Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Stephens boosted their price objective on shares of Fiserv from $255.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Royal Bank of Canada raised their target price on shares of Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Compass Point assumed coverage on shares of Fiserv in a research report on Wednesday, November 20th. They set a “buy” rating and a $278.00 price target on the stock. Finally, Citigroup raised their price objective on shares of Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Fiserv has an average rating of “Buy” and an average price target of $239.83.

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the company’s 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.75% of the company’s stock.

Fiserv Stock Performance

Shares of Fiserv stock opened at $232.47 on Friday. The stock has a market cap of $132.26 billion, a price-to-earnings ratio of 43.13, a PEG ratio of 1.53 and a beta of 0.94. 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 1 year low of $145.98 and a 1 year high of $237.99. The firm’s 50-day moving average is $213.81 and its 200 day moving average is $198.28.

Fiserv (NYSE:FI) last issued its earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (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%. Sell-side analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its board has authorized a stock repurchase plan on Thursday, February 20th that authorizes the company to buyback 60,000,000 shares. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership 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.