Selway Asset Management Sells 4,350 Shares of Fiserv, Inc. (NYSE:FI)

Selway Asset Management reduced its stake in shares of Fiserv, Inc. (NYSE:FI) by 11.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 34,655 shares of the business services provider’s stock after selling 4,350 shares during the quarter. Fiserv comprises 2.8% of Selway Asset Management’s holdings, making the stock its 8th largest position. Selway Asset Management’s holdings in Fiserv were worth $7,119,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Benjamin Edwards Inc. grew its position in Fiserv by 8,027.3% during the 3rd quarter. Benjamin Edwards Inc. now owns 11,622 shares of the business services provider’s stock worth $2,088,000 after acquiring an additional 11,479 shares during the last quarter. Hilltop Holdings Inc. raised its holdings in shares of Fiserv by 47.5% in the third quarter. Hilltop Holdings Inc. now owns 4,813 shares of the business services provider’s stock valued at $865,000 after buying an additional 1,549 shares during the last quarter. Investment Management Corp of Ontario raised its holdings in shares of Fiserv by 32.9% in the third quarter. Investment Management Corp of Ontario now owns 25,443 shares of the business services provider’s stock valued at $4,571,000 after buying an additional 6,300 shares during the last quarter. IHT Wealth Management LLC lifted its position in Fiserv by 31.7% during the 3rd quarter. IHT Wealth Management LLC now owns 3,056 shares of the business services provider’s stock worth $551,000 after buying an additional 735 shares in the last quarter. Finally, Port Capital LLC grew its holdings in Fiserv by 0.6% during the 3rd quarter. Port Capital LLC now owns 348,951 shares of the business services provider’s stock worth $62,689,000 after acquiring an additional 2,148 shares during the last quarter. 90.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FI shares. Royal Bank of Canada upped their target price on shares of Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company increased their price objective on Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Stephens boosted their target price on Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. BMO Capital Markets lifted their price objective on Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Fiserv from $238.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. One 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 stock. According to MarketBeat, Fiserv presently has a consensus rating of “Buy” and a consensus target price of $243.64.

Fiserv Stock Performance

FI opened at $226.39 on Thursday. The company has a market capitalization of $127.07 billion, a price-to-earnings ratio of 42.00, a P/E/G ratio of 1.52 and a beta of 0.93. The business’s 50-day moving average price is $222.85 and its two-hundred day moving average price is $208.96. Fiserv, Inc. has a 1 year low of $145.98 and a 1 year high of $238.59. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07.

Fiserv (NYSE:FI) last released its earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, beating the consensus estimate of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. Equities analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its Board of Directors has initiated 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. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was 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 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 is accessible through this hyperlink. 0.75% of the stock is currently owned by 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.