Summitry LLC Reduces Holdings in Fiserv, Inc. (NYSE:FI)

Summitry LLC lessened its stake in shares of Fiserv, Inc. (NYSE:FI) by 17.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 519,163 shares of the business services provider’s stock after selling 108,864 shares during the period. Fiserv makes up about 5.2% of Summitry LLC’s investment portfolio, making the stock its 3rd largest holding. Summitry LLC owned 0.09% of Fiserv worth $106,646,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in FI. Sanders Capital LLC purchased a new stake in shares of Fiserv during the third quarter valued at approximately $764,543,000. Raymond James Financial Inc. bought a new position in Fiserv in the 4th quarter valued at approximately $614,982,000. FMR LLC boosted its stake in Fiserv by 17.8% during the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after purchasing an additional 1,427,664 shares during the last quarter. Madison Investment Advisors LLC purchased a new position in shares of Fiserv in the fourth quarter worth $134,710,000. Finally, Kovitz Investment Group Partners LLC lifted its holdings in shares of Fiserv by 788.7% during the third quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock valued at $109,700,000 after purchasing an additional 561,377 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insider Activity at Fiserv

In other news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 227,711 shares in the company, valued at $53,637,326.05. The trade was a 16.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.75% of the stock is owned by insiders.

Fiserv Price Performance

FI stock opened at $222.65 on Wednesday. The company has a market capitalization of $124.97 billion, a PE ratio of 41.31, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The company’s fifty day moving average price is $221.23 and its 200-day moving average price is $207.18. Fiserv, Inc. has a one year low of $145.98 and a one year high of $238.59. 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 (NYSE:FI) last released its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. On average, equities analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FI. Stephens raised their price target on shares of Fiserv from $255.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. BMO Capital Markets lifted their target price on shares of Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. StockNews.com cut Fiserv from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. KeyCorp raised their price target on Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Citigroup upped their price objective on Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Three 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 company’s stock. According to MarketBeat, Fiserv presently 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.