Flputnam Investment Management Co. Lowers Stock Holdings in Fiserv, Inc. (NYSE:FI)

Flputnam Investment Management Co. decreased its position in shares of Fiserv, Inc. (NYSE:FI) by 18.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 8,139 shares of the business services provider’s stock after selling 1,874 shares during the period. Flputnam Investment Management Co.’s holdings in Fiserv were worth $1,672,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Argyle Capital Management LLC lifted its stake in shares of Fiserv by 3.1% during the 4th quarter. Argyle Capital Management LLC now owns 16,003 shares of the business services provider’s stock valued at $3,287,000 after buying an additional 480 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Fiserv by 1.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider’s stock worth $841,000 after purchasing an additional 45 shares in the last quarter. Fort Sheridan Advisors LLC purchased a new stake in Fiserv in the 4th quarter worth $200,000. QRG Capital Management Inc. lifted its stake in Fiserv by 14.4% in the 4th quarter. QRG Capital Management Inc. now owns 258,096 shares of the business services provider’s stock worth $53,018,000 after purchasing an additional 32,581 shares in the last quarter. Finally, Otter Creek Advisors LLC lifted its stake in Fiserv by 0.3% in the 4th quarter. Otter Creek Advisors LLC now owns 29,728 shares of the business services provider’s stock worth $6,107,000 after purchasing an additional 101 shares in the last quarter. 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 company’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 227,711 shares in the company, valued at $53,637,326.05. This represents a 16.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. The Goldman Sachs Group boosted their price target on shares of Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada boosted 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. StockNews.com cut shares of Fiserv from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Compass Point assumed coverage on shares of Fiserv in a research note on Wednesday, November 20th. They issued a “buy” rating and a $278.00 price target on the stock. Finally, Morgan Stanley upped their target price on shares of Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.83.

Fiserv Stock Performance

Shares of NYSE:FI opened at $235.67 on Monday. The company has a market capitalization of $132.28 billion, a price-to-earnings ratio of 43.72, a PEG ratio of 1.52 and a beta of 0.94. Fiserv, Inc. has a 12 month low of $145.98 and a 12 month high of $237.99. The firm’s 50-day moving average is $216.68 and its 200 day moving average is $201.34. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86.

Fiserv (NYSE:FI) last issued its earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, topping 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%. Research analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its Board of Directors has approved a share buyback program on Thursday, February 20th that authorizes the company to repurchase 60,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.