Oarsman Capital Inc. Reduces Stock Position in Fiserv, Inc. (NYSE:FI)

Oarsman Capital Inc. reduced its holdings in shares of Fiserv, Inc. (NYSE:FI) by 1.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 47,224 shares of the business services provider’s stock after selling 660 shares during the period. Fiserv accounts for 1.7% of Oarsman Capital Inc.’s portfolio, making the stock its 13th biggest position. Oarsman Capital Inc.’s holdings in Fiserv were worth $9,701,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in FI. Czech National Bank increased its holdings in Fiserv by 5.2% in the fourth quarter. Czech National Bank now owns 123,353 shares of the business services provider’s stock valued at $25,339,000 after buying an additional 6,072 shares during the last quarter. Chiron Investment Management LLC acquired a new stake in shares of Fiserv during the 3rd quarter valued at approximately $4,709,000. Trust Co. of Vermont lifted its stake in Fiserv by 170.4% during the fourth quarter. Trust Co. of Vermont now owns 6,839 shares of the business services provider’s stock worth $1,405,000 after purchasing an additional 4,310 shares during the last quarter. Cardano Risk Management B.V. acquired a new position in Fiserv in the fourth quarter worth $97,254,000. Finally, M&T Bank Corp increased its stake in Fiserv by 12.0% during the third quarter. M&T Bank Corp now owns 140,460 shares of the business services provider’s stock valued at $25,234,000 after purchasing an additional 15,103 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FI. The Goldman Sachs Group upgraded shares of Fiserv from a “neutral” rating to a “buy” rating and raised their price target for the stock from $246.00 to $260.00 in a research report on Wednesday. Susquehanna lifted their target price on Fiserv from $230.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, February 10th. Stephens increased their price target on Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Morgan Stanley boosted their price objective on Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods increased their target price on Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. One investment 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $243.64.

Insider Transactions at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of Fiserv 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 transaction, the chief operating officer now directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.75% of the stock is currently owned by insiders.

Fiserv Stock Performance

FI opened at $198.77 on Friday. The business has a fifty day simple moving average of $222.85 and a 200-day simple moving average of $209.18. The firm has a market cap of $111.57 billion, a PE ratio of 36.88, a P/E/G ratio of 1.52 and a beta of 0.91. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $238.59.

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

Fiserv declared that its Board of Directors has authorized a share repurchase plan on Thursday, February 20th that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows the business services provider to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is 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.