Fiserv, Inc. (NYSE:FI) Stock Holdings Reduced by Parnassus Investments LLC

Parnassus Investments LLC lowered its position in Fiserv, Inc. (NYSE:FI) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,861,759 shares of the business services provider’s stock after selling 342,894 shares during the quarter. Fiserv makes up approximately 2.2% of Parnassus Investments LLC’s holdings, making the stock its 14th biggest position. Parnassus Investments LLC’s holdings in Fiserv were worth $998,703,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FI. Soros Capital Management LLC boosted its stake in shares of Fiserv by 71.7% during the 3rd quarter. Soros Capital Management LLC now owns 54,797 shares of the business services provider’s stock worth $9,844,000 after acquiring an additional 22,884 shares in the last quarter. Czech National Bank boosted its stake in shares of 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 in the last quarter. Chiron Investment Management LLC bought a new stake in shares of Fiserv during the 3rd quarter worth about $4,709,000. Trust Co. of Vermont boosted its stake in shares of Fiserv by 170.4% during the 4th quarter. Trust Co. of Vermont now owns 6,839 shares of the business services provider’s stock worth $1,405,000 after acquiring an additional 4,310 shares in the last quarter. Finally, Cardano Risk Management B.V. bought a new stake in shares of Fiserv during the 4th quarter worth about $97,254,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on FI shares. Morgan Stanley upped their price target on Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Wells Fargo & Company boosted their price objective on Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Susquehanna boosted their price objective on Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, February 10th. BMO Capital Markets boosted 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, Seaport Res Ptn raised Fiserv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $239.83.

Insider Activity

In related news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction that occurred on 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 directly owns 227,711 shares in the company, valued at $53,637,326.05. This represents a 16.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.75% of the company’s stock.

Fiserv Trading Down 1.0 %

FI stock opened at $209.23 on Friday. Fiserv, Inc. has a 1-year low of $145.98 and a 1-year high of $238.59. The firm has a market cap of $117.44 billion, a P/E ratio of 38.82, a P/E/G ratio of 1.52 and a beta of 0.93. The business’s 50 day moving average is $218.83 and its 200-day moving average is $204.09. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86.

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 return on equity of 17.93% and a net margin of 15.31%. Equities analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its board has approved a share buyback program on Thursday, February 20th that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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.