Penobscot Investment Management Company Inc. Sells 1,550 Shares of Fiserv, Inc. (NYSE:FI)

Penobscot Investment Management Company Inc. reduced its holdings in shares of Fiserv, Inc. (NYSE:FI) by 8.3% during the fourth quarter, Holdings Channel reports. The fund owned 17,202 shares of the business services provider’s stock after selling 1,550 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Fiserv were worth $3,534,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in FI. Quest Partners LLC lifted its stake 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 valued at $131,000 after acquiring an additional 728 shares during the last quarter. Kingsview Wealth Management LLC increased its stake in shares of Fiserv by 3.3% during the third quarter. Kingsview Wealth Management LLC now owns 6,035 shares of the business services provider’s stock valued at $1,084,000 after buying an additional 192 shares during the period. Larson Financial Group LLC lifted its position in shares of Fiserv by 17.5% in the 3rd quarter. Larson Financial Group LLC now owns 1,836 shares of the business services provider’s stock worth $330,000 after purchasing an additional 274 shares during the period. Centaurus Financial Inc. lifted its holdings in Fiserv by 25.5% in the third quarter. Centaurus Financial Inc. now owns 2,424 shares of the business services provider’s stock worth $435,000 after buying an additional 493 shares during the period. Finally, Harvest Fund Management Co. Ltd lifted its stake in shares of Fiserv by 87.8% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 4,293 shares of the business services provider’s stock valued at $771,000 after purchasing an additional 2,007 shares during the period. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Stock Performance

NYSE:FI opened at $222.65 on Wednesday. The stock has a 50-day simple moving average of $221.23 and a two-hundred day simple moving average of $207.18. 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, Inc. has a 52-week low of $145.98 and a 52-week high of $238.59. The firm has a market capitalization of $124.97 billion, a PE ratio of 41.31, a P/E/G ratio of 1.52 and a beta of 0.93.

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

Fiserv declared that its board has authorized a share repurchase program on Thursday, February 20th that allows the company to repurchase 60,000,000 shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction on Thursday, February 20th. The stock was 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 approximately $53,637,326.05. This represents a 16.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on FI. The Goldman Sachs Group boosted their price objective on shares of Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Stephens raised their price target on Fiserv from $255.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Citigroup lifted their price target on Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. StockNews.com lowered shares of Fiserv from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Fiserv currently has a consensus rating of “Moderate Buy” and a consensus price target 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.