UniSuper Management Pty Ltd Cuts Holdings in Fiserv, Inc. (NYSE:FI)

UniSuper Management Pty Ltd lowered its holdings in Fiserv, Inc. (NYSE:FI) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,187 shares of the business services provider’s stock after selling 3,502 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Fiserv were worth $26,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Fiserv in the 4th quarter worth about $614,982,000. FMR LLC raised its holdings in shares of Fiserv by 17.8% during the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after purchasing an additional 1,427,664 shares during the last quarter. Madison Investment Advisors LLC bought a new position in Fiserv during the fourth quarter valued at approximately $134,710,000. Kovitz Investment Group Partners LLC boosted its holdings in Fiserv by 788.7% in 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 during the last quarter. Finally, Proficio Capital Partners LLC grew its position in Fiserv by 30,479.9% in the 4th quarter. Proficio Capital Partners LLC now owns 484,997 shares of the business services provider’s stock worth $99,628,000 after purchasing an additional 483,411 shares during the period. 90.98% of the stock is owned by institutional investors.

Fiserv Stock Performance

Fiserv stock opened at $221.75 on Thursday. Fiserv, Inc. has a 1-year low of $145.98 and a 1-year high of $238.59. The company’s 50-day moving average is $221.58 and its 200 day moving average is $207.28. The firm has a market capitalization of $124.47 billion, a P/E ratio of 41.14, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, topping 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 forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FI shares. The Goldman Sachs Group increased their price target on Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. StockNews.com downgraded Fiserv from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. KeyCorp boosted their price target on Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Morgan Stanley increased their price objective on shares of Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Barclays lifted their price target on shares of Fiserv from $235.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Three research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $242.32.

Insider Transactions at Fiserv

In other news, COO Guy Chiarello sold 45,000 shares of the company’s 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 owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.75% of the company’s stock.

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.