Cibc World Markets Corp Sells 22,017 Shares of Fiserv, Inc. (NYSE:FI)

Cibc World Markets Corp reduced its position in Fiserv, Inc. (NYSE:FI) by 19.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,041 shares of the business services provider’s stock after selling 22,017 shares during the quarter. Cibc World Markets Corp’s holdings in Fiserv were worth $18,496,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC increased its stake in Fiserv by 7.2% in the third quarter. Empowered Funds LLC now owns 9,328 shares of the business services provider’s stock valued at $1,676,000 after acquiring an additional 626 shares during the period. Claro Advisors LLC grew its stake in shares of Fiserv by 3.3% in the 3rd quarter. Claro Advisors LLC now owns 2,088 shares of the business services provider’s stock valued at $375,000 after purchasing an additional 66 shares during the period. Quest Partners LLC raised its holdings in shares of Fiserv by 72,800.0% in the 3rd quarter. Quest Partners LLC now owns 729 shares of the business services provider’s stock worth $131,000 after buying an additional 728 shares in the last quarter. GLOBALT Investments LLC GA lifted its position in shares of Fiserv by 2.5% during the 3rd quarter. GLOBALT Investments LLC GA now owns 12,785 shares of the business services provider’s stock worth $2,297,000 after buying an additional 306 shares during the period. Finally, Capital City Trust Co. FL boosted its stake in Fiserv by 2.4% in the 3rd quarter. Capital City Trust Co. FL now owns 27,582 shares of the business services provider’s stock valued at $4,955,000 after buying an additional 636 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the company’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 sale, the chief operating officer now owns 227,711 shares in the company, valued at $53,637,326.05. This represents a 16.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.75% of the stock is currently owned by corporate insiders.

Fiserv Stock Performance

Shares of Fiserv stock opened at $218.05 on Tuesday. The firm has a fifty day moving average of $219.21 and a two-hundred day moving average of $205.19. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. The stock has a market capitalization of $122.39 billion, a price-to-earnings ratio of 40.45, a PEG ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a 52 week low of $145.98 and a 52 week high of $238.59.

Fiserv (NYSE:FI) last released its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, beating 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%. As a group, equities research analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its board has approved a share buyback 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 reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

FI has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price objective on Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Barclays boosted their price target on shares of Fiserv from $235.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Morgan Stanley raised their price objective on shares of Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. StockNews.com downgraded Fiserv from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Compass Point assumed coverage on Fiserv in a report on Wednesday, November 20th. They set a “buy” rating and a $278.00 price target for the company. Three analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Fiserv has an average rating of “Moderate Buy” and a consensus price target of $239.83.

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.