Fiserv, Inc. (NYSE:FI) Shares Sold by Pitcairn Co.

Pitcairn Co. trimmed its holdings in shares of Fiserv, Inc. (NYSE:FI) by 3.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,321 shares of the business services provider’s stock after selling 322 shares during the period. Pitcairn Co.’s holdings in Fiserv were worth $1,915,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FI. Royal Bank of Canada lifted their price target on Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Citigroup lifted their target price on shares of Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Morgan Stanley increased 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. The Goldman Sachs Group upgraded shares of Fiserv from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $246.00 to $260.00 in a research report on Wednesday. Finally, Susquehanna raised their target price on shares of Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, February 10th. One research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $243.64.

Fiserv Price Performance

Fiserv stock opened at $216.77 on Friday. 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 capitalization of $121.67 billion, a price-to-earnings ratio of 40.22, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The company’s 50 day simple moving average is $223.06 and its 200-day simple moving average is $209.02. Fiserv, Inc. has a 1 year low of $145.98 and a 1 year high of $238.59.

Fiserv (NYSE:FI) last announced its 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 return on equity of 17.93% and a net margin of 15.31%. As a group, equities research analysts expect that Fiserv, Inc. will post 10.23 earnings per share 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 the company’s stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 227,711 shares of the company’s stock, valued at $53,637,326.05. This represents a 16.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.75% of the stock is currently owned by company insiders.

About Fiserv

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.