Fiserv, Inc. (NYSE:FI) Shares Sold by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC trimmed its holdings in Fiserv, Inc. (NYSE:FI) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,570 shares of the business services provider’s stock after selling 150 shares during the period. Thoroughbred Financial Services LLC’s holdings in Fiserv were worth $2,787,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in FI. Czech National Bank lifted its position in shares of Fiserv by 5.2% in the fourth quarter. Czech National Bank now owns 123,353 shares of the business services provider’s stock valued at $25,339,000 after acquiring an additional 6,072 shares in the last quarter. Chiron Investment Management LLC acquired a new stake in shares of Fiserv during the 3rd quarter worth about $4,709,000. Trust Co. of Vermont grew 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 buying an additional 4,310 shares in the last quarter. Cardano Risk Management B.V. acquired a new position in shares of Fiserv in the fourth quarter valued at approximately $97,254,000. Finally, M&T Bank Corp lifted its stake in shares of Fiserv by 12.0% during the third 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 currently owned by hedge funds and other institutional investors.

Insider Activity

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 227,711 shares of the company’s stock, valued at $53,637,326.05. This represents a 16.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.75% of the company’s stock.

Fiserv Stock Down 8.4 %

NYSE FI opened at $198.77 on Friday. 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 fifty-two week low of $145.98 and a fifty-two week high of $238.59. The business has a 50 day moving average price of $222.85 and a two-hundred day moving average price of $209.18. The stock has a market cap of $111.57 billion, a PE ratio of 36.88, a P/E/G ratio of 1.52 and a beta of 0.91.

Fiserv (NYSE:FI) last announced its earnings results 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%. As a group, sell-side analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its board has initiated a stock repurchase plan on Thursday, February 20th that authorizes the company to repurchase 60,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have commented on FI shares. Royal Bank of Canada boosted their price target on Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Stephens upped their target price on Fiserv from $255.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Keefe, Bruyette & Woods raised their price target on Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. StockNews.com started coverage on shares of Fiserv in a research note on Sunday, March 23rd. They set a “buy” rating for the company. Finally, Susquehanna raised their target price on shares of Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Fiserv has an average rating of “Buy” and a consensus target price of $243.64.

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.