Fiserv, Inc. (NYSE:FI) Shares Sold by Associated Banc Corp

Associated Banc Corp cut its stake in Fiserv, Inc. (NYSE:FI) by 8.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 410,341 shares of the business services provider’s stock after selling 36,739 shares during the quarter. Fiserv comprises approximately 2.5% of Associated Banc Corp’s investment portfolio, making the stock its 8th biggest position. Associated Banc Corp owned about 0.07% of Fiserv worth $84,292,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of FI. Sanders Capital LLC acquired a new stake in shares of Fiserv during the 3rd quarter worth about $764,543,000. Raymond James Financial Inc. acquired a new stake in shares of Fiserv during the 4th quarter worth about $614,982,000. FMR LLC increased its position in shares of Fiserv by 17.8% during the 3rd 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 during the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of Fiserv during the 4th quarter worth about $134,710,000. Finally, Kovitz Investment Group Partners LLC increased its position in shares of Fiserv by 788.7% during the 3rd 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 during the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on FI. Barclays lifted their target price on Fiserv from $235.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Susquehanna boosted their price target on shares of Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, February 10th. Oppenheimer boosted their price target 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. Seaport Res Ptn upgraded shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Finally, Compass Point assumed coverage on shares of Fiserv in a research note on Wednesday, November 20th. They set a “buy” rating and a $278.00 price target on the stock. Three investment 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.83.

Insider Activity at Fiserv

In other 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 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. This represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.75% of the stock is currently owned by corporate insiders.

Fiserv Stock Performance

Shares of FI opened at $214.91 on Friday. The stock has a 50 day moving average price of $218.96 and a 200 day moving average price of $204.40. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $120.62 billion, a price-to-earnings ratio of 39.87, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a 52-week low of $145.98 and a 52-week high of $238.59.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (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%. Research analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its board has authorized a stock 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 purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are 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.