Fiserv, Inc. (NYSE:FI) Shares Sold by Suncoast Equity Management

Suncoast Equity Management cut its stake in Fiserv, Inc. (NYSE:FI) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 213,350 shares of the business services provider’s stock after selling 2,877 shares during the period. Fiserv accounts for approximately 4.9% of Suncoast Equity Management’s investment portfolio, making the stock its 10th largest holding. Suncoast Equity Management’s holdings in Fiserv were worth $43,826,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Sanders Capital LLC bought a new position in Fiserv in the 3rd quarter valued at about $764,543,000. FMR LLC raised its holdings in Fiserv by 17.8% during the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after purchasing an additional 1,427,664 shares in the last quarter. Kovitz Investment Group Partners LLC raised its holdings in Fiserv by 788.7% during the third quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock worth $109,700,000 after purchasing an additional 561,377 shares in the last quarter. Mizuho Securities USA LLC lifted its position in Fiserv by 1,238.6% in the third quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock worth $108,488,000 after purchasing an additional 558,774 shares during the period. Finally, Cardano Risk Management B.V. bought a new position in Fiserv during the 4th quarter valued at $97,254,000. 90.98% of the stock is currently owned by institutional investors.

Fiserv Trading Down 0.7 %

Shares of FI opened at $234.63 on Friday. The stock has a fifty day moving average price of $213.26 and a two-hundred day moving average price of $197.74. 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 company has a market cap of $133.48 billion, a price-to-earnings ratio of 43.53, a PEG ratio of 1.53 and a beta of 0.94. Fiserv, Inc. has a 52-week low of $145.98 and a 52-week high of $238.00.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, beating 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 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 allows the company to repurchase 60,000,000 outstanding shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of Fiserv 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 sale, the chief operating officer now owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. This trade represents a 16.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.75% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FI shares. Wells Fargo & Company upped their price objective on Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Mizuho upped their price target on shares of Fiserv from $183.00 to $222.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. BMO Capital Markets lifted their price objective on shares of Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. KeyCorp increased their target price on shares of Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, Stephens lifted their price target on shares of Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Fiserv presently has an average rating of “Buy” and a consensus target price of $239.83.

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.