1ST Source Bank Sells 60 Shares of Fiserv, Inc. (NYSE:FI)

1ST Source Bank decreased its holdings in Fiserv, Inc. (NYSE:FI) by 1.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,700 shares of the business services provider’s stock after selling 60 shares during the period. 1ST Source Bank’s holdings in Fiserv were worth $965,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Jacobi Capital Management LLC grew its position in Fiserv by 0.4% in the fourth quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider’s stock valued at $2,281,000 after acquiring an additional 44 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Fiserv by 1.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider’s stock valued at $841,000 after purchasing an additional 45 shares during the last quarter. Catalina Capital Group LLC grew its holdings in shares of Fiserv by 2.3% during the 4th quarter. Catalina Capital Group LLC now owns 2,160 shares of the business services provider’s stock valued at $444,000 after purchasing an additional 48 shares during the last quarter. Mount Yale Investment Advisors LLC increased its position in Fiserv by 1.2% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 4,126 shares of the business services provider’s stock worth $848,000 after purchasing an additional 50 shares in the last quarter. Finally, Hemington Wealth Management lifted its stake in Fiserv by 6.1% in the 4th quarter. Hemington Wealth Management now owns 864 shares of the business services provider’s stock valued at $177,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analyst Ratings Changes

FI has been the subject of several research analyst reports. Royal Bank of Canada upped their price target on shares of Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Morgan Stanley upped their target price on Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Compass Point assumed coverage on Fiserv in a research note on Wednesday, November 20th. They set a “buy” rating and a $278.00 price target on the stock. BMO Capital Markets upped their price objective on Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company lifted their target price 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. Three equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $239.83.

Insider Activity

In related news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $235.55, for a total value of $10,599,750.00. Following the completion of the sale, the chief operating officer now directly owns 227,711 shares of the company’s stock, valued at $53,637,326.05. The trade was a 16.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.75% of the company’s stock.

Fiserv Trading Up 2.6 %

Shares of FI stock opened at $214.91 on Monday. The company has a market cap of $120.62 billion, a P/E ratio of 39.87, a PEG ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $238.59. The stock has a 50 day simple moving average of $218.96 and a two-hundred day simple moving average of $204.87. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06.

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

Fiserv announced that its Board of Directors has approved a share buyback plan on Thursday, February 20th that permits the company to repurchase 60,000,000 shares. This repurchase authorization permits 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 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.