Lake Street Advisors Group LLC Sells 167 Shares of Fiserv, Inc. (NYSE:FI)

Lake Street Advisors Group LLC reduced its stake in shares of Fiserv, Inc. (NYSE:FI) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,327 shares of the business services provider’s stock after selling 167 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Fiserv were worth $1,300,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Soros Capital Management LLC boosted its position in shares of Fiserv by 71.7% during the third quarter. Soros Capital Management LLC now owns 54,797 shares of the business services provider’s stock valued at $9,844,000 after purchasing an additional 22,884 shares in the last quarter. Czech National Bank lifted its position in Fiserv by 5.2% during the fourth quarter. Czech National Bank now owns 123,353 shares of the business services provider’s stock valued at $25,339,000 after buying an additional 6,072 shares during the period. Chiron Investment Management LLC bought a new stake in shares of Fiserv during the 3rd quarter valued at $4,709,000. Trust Co. of Vermont grew its position in shares of Fiserv by 170.4% in the 4th quarter. Trust Co. of Vermont now owns 6,839 shares of the business services provider’s stock worth $1,405,000 after buying an additional 4,310 shares during the period. Finally, Cardano Risk Management B.V. bought a new position in shares of Fiserv in the 4th quarter worth about $97,254,000. 90.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FI. 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 research note on Thursday, February 6th. Stephens boosted their price target on Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Compass Point began coverage on Fiserv in a research report on Wednesday, November 20th. They set a “buy” rating and a $278.00 price objective for the company. Keefe, Bruyette & Woods boosted their target price on Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada increased their target price on Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Three investment 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $239.83.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the completion of the sale, the chief operating officer now owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.75% of the company’s stock.

Fiserv Stock Down 1.2 %

Fiserv stock opened at $229.58 on Thursday. The stock has a market cap of $128.86 billion, a PE ratio of 42.59, a price-to-earnings-growth ratio of 1.52 and a beta of 0.94. 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 fifty day moving average of $215.50 and a 200 day moving average of $200.07. Fiserv, Inc. has a one year low of $145.98 and a one year high of $237.99.

Fiserv (NYSE:FI) last released its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, beating 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, sell-side analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its Board of Directors has initiated a share buyback plan on Thursday, February 20th that authorizes the company to buyback 60,000,000 shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.