Fiserv, Inc. (NYSE:FI) is Torray Investment Partners LLC’s 2nd Largest Position

Torray Investment Partners LLC reduced its position in shares of Fiserv, Inc. (NYSE:FI) by 17.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 125,485 shares of the business services provider’s stock after selling 25,965 shares during the period. Fiserv comprises approximately 3.7% of Torray Investment Partners LLC’s portfolio, making the stock its 2nd largest position. Torray Investment Partners LLC’s holdings in Fiserv were worth $25,777,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Commerzbank Aktiengesellschaft FI boosted its stake in Fiserv by 18.7% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 3,824 shares of the business services provider’s stock valued at $789,000 after acquiring an additional 603 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Fiserv by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,620,785 shares of the business services provider’s stock valued at $743,782,000 after acquiring an additional 90,475 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Fiserv by 1.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 120,595 shares of the business services provider’s stock valued at $24,773,000 after purchasing an additional 1,443 shares in the last quarter. Mission Wealth Management LP increased its position in Fiserv by 1.5% during the 4th quarter. Mission Wealth Management LP now owns 20,621 shares of the business services provider’s stock worth $4,236,000 after purchasing an additional 298 shares during the period. Finally, Financial Council LLC purchased a new position in shares of Fiserv during the 4th quarter worth approximately $200,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Susquehanna upped their price objective on Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, February 10th. Wells Fargo & Company upped their price target 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. Morgan Stanley raised their price objective on shares of Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. 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 report on Thursday, February 6th. Finally, Seaport Res Ptn upgraded shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $239.83.

Insider Activity

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction that occurred on 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.75% of the company’s stock.

Fiserv Trading Up 0.8 %

NYSE:FI opened at $237.65 on Tuesday. The business’s 50-day moving average is $217.30 and its two-hundred day moving average is $201.84. The firm has a market capitalization of $133.39 billion, a PE ratio of 44.09, a price-to-earnings-growth ratio of 1.52 and a beta of 0.94. Fiserv, Inc. has a 12 month low of $145.98 and a 12 month high of $238.59. 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 announced its 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 return on equity of 17.93% and a net margin of 15.31%. Research analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its Board of Directors has authorized a stock buyback program 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. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are 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.