Fiserv, Inc. (NYSE:FI) is Bell Asset Management Ltd’s 6th Largest Position

Bell Asset Management Ltd reduced its stake in Fiserv, Inc. (NYSE:FI) by 8.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 75,472 shares of the business services provider’s stock after selling 7,264 shares during the quarter. Fiserv accounts for approximately 2.8% of Bell Asset Management Ltd’s portfolio, making the stock its 6th largest holding. Bell Asset Management Ltd’s holdings in Fiserv were worth $15,503,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Valley National Advisers Inc. purchased a new stake in shares of Fiserv during the fourth quarter worth $29,000. Marshall Investment Management LLC bought a new position in shares of Fiserv in the fourth quarter valued at approximately $29,000. Compass Financial Services Inc bought a new position in shares of Fiserv in the fourth quarter valued at approximately $31,000. Campbell Capital Management Inc. purchased a new position in Fiserv during the fourth quarter valued at approximately $37,000. Finally, Knuff & Co LLC bought a new stake in Fiserv during the 4th quarter worth approximately $45,000. Institutional investors own 90.98% of the company’s stock.

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total transaction 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 approximately $53,637,326.05. The trade was a 16.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.75% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FI. Oppenheimer boosted their price target on shares of Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. StockNews.com started coverage on Fiserv in a research note on Sunday, March 23rd. They issued a “buy” rating on the stock. Barclays lifted their price target on Fiserv from $235.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Royal Bank of Canada upped their price objective on shares of Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Citigroup raised their target price on shares of Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $243.64.

Fiserv Stock Down 8.4 %

Shares of Fiserv stock opened at $198.77 on Monday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. Fiserv, Inc. has a 52-week low of $145.98 and a 52-week high of $238.59. The company’s 50 day moving average price is $222.85 and its 200-day moving average price is $209.66. The stock has a market capitalization of $111.57 billion, a price-to-earnings ratio of 36.88, a P/E/G ratio of 1.52 and a beta of 0.91.

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, topping 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%. Equities research analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 20th that authorizes the company to buyback 60,000,000 outstanding shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors 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.