Puzo Michael J Cuts Stock Holdings in Fiserv, Inc. (NYSE:FI)

Puzo Michael J decreased its stake in shares of Fiserv, Inc. (NYSE:FI) by 7.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 74,521 shares of the business services provider’s stock after selling 6,057 shares during the period. Fiserv comprises approximately 4.3% of Puzo Michael J’s holdings, making the stock its 6th largest position. Puzo Michael J’s holdings in Fiserv were worth $15,308,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Fiserv

In other news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief operating officer now owns 227,711 shares of the company’s stock, valued at $53,637,326.05. This represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. StockNews.com began coverage on shares of Fiserv in a report on Sunday, March 23rd. They set a “buy” rating on the stock. Stephens lifted their price objective on shares of Fiserv from $255.00 to $270.00 and gave the stock 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 company an “outperform” rating in a research note on Thursday, February 6th. KeyCorp increased their price objective on Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, BMO Capital Markets increased their price target on Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $243.64.

Fiserv Price Performance

Shares of Fiserv stock opened at $216.77 on Friday. The firm has a market cap of $121.67 billion, a PE ratio of 40.22, a P/E/G ratio of 1.52 and a beta of 0.93. The business has a 50-day moving average price of $223.06 and a 200 day moving average price of $209.02. 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 twelve month low of $145.98 and a twelve month high of $238.59.

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 predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its board has approved a stock 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 reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board 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.