Kendall Capital Management Sells 75 Shares of Fiserv, Inc. (NYSE:FI)

Kendall Capital Management reduced its position in Fiserv, Inc. (NYSE:FI) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,073 shares of the business services provider’s stock after selling 75 shares during the quarter. Kendall Capital Management’s holdings in Fiserv were worth $3,096,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of FI. Jacobi Capital Management LLC lifted its position in shares of Fiserv by 0.4% during the 4th quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider’s stock valued at $2,281,000 after acquiring an additional 44 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of Fiserv by 1.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider’s stock valued at $841,000 after acquiring an additional 45 shares during the period. Catalina Capital Group LLC lifted its position in shares of Fiserv by 2.3% during the 4th quarter. Catalina Capital Group LLC now owns 2,160 shares of the business services provider’s stock valued at $444,000 after acquiring an additional 48 shares during the period. Mount Yale Investment Advisors LLC lifted its position in shares of Fiserv by 1.2% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 4,126 shares of the business services provider’s stock valued at $848,000 after acquiring an additional 50 shares during the period. Finally, Hemington Wealth Management lifted its position in shares of Fiserv by 6.1% during the 4th quarter. Hemington Wealth Management now owns 864 shares of the business services provider’s stock valued at $177,000 after acquiring an additional 50 shares during the period. 90.98% of the stock is owned by institutional investors.

Fiserv Price Performance

Shares of NYSE:FI opened at $218.04 on Friday. 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 firm has a market capitalization of $122.38 billion, a PE ratio of 40.45, a P/E/G ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a twelve month low of $145.98 and a twelve month high of $238.59. The company has a 50-day moving average price of $218.31 and a two-hundred day moving average price of $203.12.

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

Fiserv declared that its board has approved a share repurchase 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. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, COO Guy Chiarello sold 45,000 shares of the firm’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 transaction, the chief operating officer now directly owns 227,711 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on FI. Citigroup upped their price objective on shares of Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. 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 report on Thursday, February 6th. Compass Point began coverage on shares of Fiserv in a report on Wednesday, November 20th. They set a “buy” rating and a $278.00 price objective on the stock. Oppenheimer upped their price objective on shares of Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Finally, Seaport Res Ptn upgraded shares of Fiserv from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Three investment 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 company. Based on data from MarketBeat.com, Fiserv presently has an average rating of “Moderate Buy” and a consensus target price of $239.83.

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.