Catalyst Funds Management Pty Ltd Sells 3,300 Shares of Fiserv, Inc. (NYSE:FI)

Catalyst Funds Management Pty Ltd trimmed its position in Fiserv, Inc. (NYSE:FI) by 52.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,000 shares of the business services provider’s stock after selling 3,300 shares during the period. Catalyst Funds Management Pty Ltd’s holdings in Fiserv were worth $616,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Valley National Advisers Inc. bought a new position in shares of Fiserv in the fourth quarter worth approximately $29,000. Marshall Investment Management LLC purchased a new stake in shares of Fiserv during the 4th quarter valued at $29,000. Compass Financial Services Inc purchased a new stake in shares of Fiserv during the 4th quarter valued at $31,000. Campbell Capital Management Inc. bought a new stake in shares of Fiserv during the 4th quarter worth $37,000. Finally, Knuff & Co LLC purchased a new position in Fiserv in the fourth quarter worth $45,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Keefe, Bruyette & Woods lifted their price target on Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. BMO Capital Markets raised their price objective on Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Morgan Stanley upped their target price on Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Wells Fargo & Company boosted their price objective on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada increased their target price on shares of Fiserv from $255.00 to $270.00 and gave the company 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 given a strong buy rating to the stock. Based on data from MarketBeat, Fiserv presently has an average rating of “Moderate Buy” and a consensus target price of $239.83.

Fiserv Stock Performance

Shares of FI stock opened at $214.91 on Friday. The firm has a market capitalization of $120.62 billion, a price-to-earnings ratio of 39.87, a PEG ratio of 1.52 and a beta of 0.93. The stock has a fifty day moving average of $218.96 and a 200 day moving average of $204.64. Fiserv, Inc. has a 52 week low of $145.98 and a 52 week high of $238.59. 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 (NYSE:FI) last posted its earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, topping the consensus estimate of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. As a group, research analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current year.

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

Insiders Place Their Bets

In other 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 sale, the chief operating officer now owns 227,711 shares in the company, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company 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.