Franklin Resources Inc. Trims Stock Holdings in Fiserv, Inc. (NYSE:FI)

Franklin Resources Inc. lessened its stake in shares of Fiserv, Inc. (NYSE:FI) by 22.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,060,508 shares of the business services provider’s stock after selling 610,730 shares during the quarter. Franklin Resources Inc. owned 0.36% of Fiserv worth $423,270,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Marshall Investment Management LLC purchased a new stake in shares of Fiserv in the 4th quarter valued at $29,000. Valley National Advisers Inc. acquired a new position in Fiserv in the 4th quarter valued at about $29,000. Compass Financial Services Inc acquired a new position in Fiserv in the 4th quarter valued at about $31,000. Campbell Capital Management Inc. purchased a new stake in Fiserv during the fourth quarter worth about $37,000. Finally, Knuff & Co LLC acquired a new stake in shares of Fiserv during the fourth quarter worth about $45,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Fiserv

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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Keefe, Bruyette & Woods boosted their price target 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. Susquehanna increased their price objective on Fiserv from $230.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, February 10th. The Goldman Sachs Group lifted their target price on Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley upped their price target on Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $242.32.

Fiserv Stock Performance

NYSE FI opened at $221.19 on Tuesday. The company has a fifty day moving average of $222.25 and a two-hundred day moving average of $208.51. The company has a market capitalization of $124.15 billion, a PE ratio of 41.04, a P/E/G ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a 1 year low of $145.98 and a 1 year 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. As a group, analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv announced that its board has authorized a share repurchase 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 a sign that the company’s management believes its shares are undervalued.

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.