Cornerstone Capital Inc. Trims Stock Position in Fiserv, Inc. (NYSE:FI)

Cornerstone Capital Inc. reduced its holdings in Fiserv, Inc. (NYSE:FI) by 13.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,602 shares of the business services provider’s stock after selling 15,739 shares during the quarter. Fiserv comprises 2.3% of Cornerstone Capital Inc.’s investment portfolio, making the stock its 14th biggest holding. Cornerstone Capital Inc.’s holdings in Fiserv were worth $21,693,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FI. Marshall Investment Management LLC purchased a new stake in shares of Fiserv during the 4th quarter valued at about $29,000. Valley National Advisers Inc. bought a new stake in shares of Fiserv during the 4th quarter valued at about $29,000. Compass Financial Services Inc acquired a new position in Fiserv during the 4th quarter valued at approximately $31,000. Campbell Capital Management Inc. acquired a new stake in shares of Fiserv in the fourth quarter valued at approximately $37,000. Finally, Knuff & Co LLC acquired a new position in Fiserv during the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on FI shares. Morgan Stanley raised their price objective on Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Monness Crespi & Hardt cut shares of Fiserv from a “neutral” rating to a “sell” rating and set a $145.00 price target for the company. in a report on Wednesday, April 9th. Royal Bank of Canada boosted their price objective on shares of Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Barclays boosted their target price on shares of Fiserv from $235.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Finally, Redburn Atlantic reissued a “sell” rating and issued a $150.00 price objective on shares of Fiserv in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.79.

Fiserv Price Performance

NYSE FI opened at $208.51 on Friday. Fiserv, Inc. has a 52-week low of $145.98 and a 52-week high of $238.59. The firm’s 50 day moving average price is $219.31 and its 200-day moving average price is $211.30. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. The company has a market cap of $116.47 billion, a PE ratio of 38.68, a P/E/G ratio of 1.52 and a beta of 0.91.

Fiserv (NYSE:FI) last released 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%. Sell-side analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its board has initiated a share repurchase plan on Thursday, February 20th that authorizes the company to repurchase 60,000,000 shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction on Thursday, February 20th. The stock was 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. This represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.75% of the company’s stock.

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.