Fiserv, Inc. (NYSE:FI) Shares Sold by Redmond Asset Management LLC

Redmond Asset Management LLC lessened its stake in Fiserv, Inc. (NYSE:FI) by 4.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 44,237 shares of the business services provider’s stock after selling 2,130 shares during the period. Fiserv comprises approximately 2.3% of Redmond Asset Management LLC’s portfolio, making the stock its 5th largest position. Redmond Asset Management LLC’s holdings in Fiserv were worth $9,087,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Valley National Advisers Inc. acquired a new stake in Fiserv in the 4th quarter valued at approximately $29,000. Compass Financial Services Inc purchased a new position in Fiserv in the 4th quarter valued at approximately $31,000. Kennebec Savings Bank purchased a new position in Fiserv in the 3rd quarter valued at approximately $40,000. Friedenthal Financial purchased a new position in Fiserv in the 4th quarter valued at approximately $49,000. Finally, Eastern Bank purchased a new position in Fiserv in the 3rd quarter valued at approximately $50,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insider Buying and Selling

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $235.55, for a total value of $10,599,750.00. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.75% of the stock is owned by insiders.

Analyst Ratings Changes

FI has been the subject of several recent research reports. Tigress Financial raised their price target on shares of Fiserv from $190.00 to $244.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Oppenheimer raised their price target on shares of Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods raised their price target 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. Citigroup lifted their price objective on shares of Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company lifted their price objective on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $239.83.

Fiserv Trading Down 0.8 %

NYSE FI opened at $232.47 on Friday. Fiserv, Inc. has a one year low of $145.98 and a one year high of $237.99. 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 firm’s fifty day moving average is $213.81 and its two-hundred day moving average is $198.28. The firm has a market cap of $132.26 billion, a PE ratio of 43.13, a P/E/G ratio of 1.53 and a beta of 0.94.

Fiserv (NYSE:FI) last released its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, topping 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%. Analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 20th that allows the company to repurchase 60,000,000 outstanding shares. This repurchase authorization allows the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors 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.