Townsend Asset Management Corp NC ADV Decreases Position in Fiserv, Inc. (NYSE:FI)

Townsend Asset Management Corp NC ADV trimmed its position in shares of Fiserv, Inc. (NYSE:FI) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,193 shares of the business services provider’s stock after selling 102 shares during the period. Townsend Asset Management Corp NC ADV’s holdings in Fiserv were worth $1,067,000 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 the business. Marshall Investment Management LLC acquired a new stake in Fiserv in the fourth quarter worth about $29,000. Valley National Advisers Inc. acquired a new position in shares of Fiserv during the fourth quarter valued at approximately $29,000. Compass Financial Services Inc bought a new stake in Fiserv during the fourth quarter worth approximately $31,000. Kennebec Savings Bank acquired a new stake in Fiserv in the third quarter worth approximately $40,000. Finally, Roxbury Financial LLC bought a new position in Fiserv during the 4th quarter valued at $50,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the firm’s stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.75% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FI. Oppenheimer raised their target price on shares of Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Wells Fargo & Company raised their price objective on Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Keefe, Bruyette & Woods increased their price target on Fiserv from $238.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Stephens boosted their price objective on Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada raised their target price on shares of Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $239.83.

Fiserv Trading Up 1.0 %

Shares of NYSE FI opened at $226.07 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. Fiserv, Inc. has a twelve month low of $145.98 and a twelve month high of $238.59. The company’s fifty day moving average is $217.92 and its 200-day moving average is $202.41. The stock has a market cap of $126.89 billion, a price-to-earnings ratio of 41.94, a P/E/G ratio of 1.52 and a beta of 0.93.

Fiserv (NYSE:FI) last posted its 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%. Equities research analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its board has initiated a stock buyback program on Thursday, February 20th that permits the company to buyback 60,000,000 outstanding shares. This buyback authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Fiserv Company 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.