Fiserv, Inc. (NYSE:FI) Shares Sold by Troy Asset Management Ltd

Troy Asset Management Ltd lowered its stake in Fiserv, Inc. (NYSE:FI) by 11.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 261,967 shares of the business services provider’s stock after selling 33,781 shares during the period. Fiserv comprises 1.8% of Troy Asset Management Ltd’s investment portfolio, making the stock its 16th biggest position. Troy Asset Management Ltd’s holdings in Fiserv were worth $53,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Valley National Advisers Inc. acquired a new stake in shares of Fiserv in the 4th quarter valued at about $29,000. Marshall Investment Management LLC acquired a new stake in shares of Fiserv in the fourth quarter valued at approximately $29,000. Compass Financial Services Inc purchased a new position in shares of Fiserv during the fourth quarter worth approximately $31,000. Campbell Capital Management Inc. acquired a new position in shares of Fiserv in the 4th quarter valued at $37,000. Finally, Knuff & Co LLC purchased a new stake in Fiserv in the 4th quarter valued at $45,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FI. KeyCorp upped their target price on shares of Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Keefe, Bruyette & Woods boosted their target price on Fiserv from $238.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Royal Bank of Canada increased their price target on Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Citigroup boosted their price objective on shares of Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Finally, Susquehanna raised their target price on shares of Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Fiserv has a consensus rating of “Buy” and a consensus price target of $242.32.

Insiders Place Their Bets

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

Fiserv Stock Performance

NYSE:FI opened at $216.15 on Friday. Fiserv, Inc. has a 1-year low of $145.98 and a 1-year high of $238.59. The firm has a 50 day simple moving average of $222.00 and a 200-day simple moving average of $207.67. The firm has a market cap of $121.32 billion, a PE ratio of 40.10, a P/E/G ratio of 1.52 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07.

Fiserv (NYSE:FI) last issued 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 expect that Fiserv, Inc. will post 10.23 EPS for the current year.

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

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.