Clearbridge Investments LLC Trims Stock Holdings in Fiserv, Inc. (NYSE:FI)

Clearbridge Investments LLC cut its holdings in shares of Fiserv, Inc. (NYSE:FI) by 34.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 718,007 shares of the business services provider’s stock after selling 384,821 shares during the quarter. Clearbridge Investments LLC’s holdings in Fiserv were worth $147,493,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. Czech National Bank lifted its position in Fiserv by 5.2% during the 4th quarter. Czech National Bank now owns 123,353 shares of the business services provider’s stock worth $25,339,000 after acquiring an additional 6,072 shares during the period. Chiron Investment Management LLC purchased a new stake in shares of Fiserv during the third quarter worth approximately $4,709,000. Trust Co. of Vermont lifted its holdings in shares of 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 period. Cardano Risk Management B.V. purchased a new position in Fiserv in the 4th quarter valued at $97,254,000. Finally, M&T Bank Corp increased its stake in Fiserv by 12.0% in the 3rd quarter. M&T Bank Corp now owns 140,460 shares of the business services provider’s stock valued at $25,234,000 after buying an additional 15,103 shares during the period. 90.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on FI. Oppenheimer raised their target price on shares of Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Stephens raised their price objective on shares of Fiserv from $255.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. StockNews.com started coverage on Fiserv in a report on Sunday, March 23rd. They issued a “buy” rating on the stock. BMO Capital Markets raised their price target on Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company upped their price objective on Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $242.32.

Insider Activity

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 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 approximately $53,637,326.05. The trade was a 16.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.75% of the company’s stock.

Fiserv Price Performance

Shares of NYSE:FI opened at $216.15 on Monday. 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 business’s fifty day moving average price is $222.00 and its two-hundred day moving average price is $208.17. The stock has a market cap of $121.32 billion, a PE ratio of 40.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a one year low of $145.98 and a one year high of $238.59.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, beating 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%. On average, analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its board has approved a stock buyback plan on Thursday, February 20th that allows the company to repurchase 60,000,000 shares. This repurchase authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is 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.