Fiserv, Inc. (NYSE:FI) Stock Holdings Lowered by Argent Trust Co

Argent Trust Co cut its position in shares of Fiserv, Inc. (NYSE:FI) by 2.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 32,130 shares of the business services provider’s stock after selling 868 shares during the period. Argent Trust Co’s holdings in Fiserv were worth $6,600,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in FI. First Foundation Advisors acquired a new position in shares of Fiserv during the 4th quarter worth about $211,000. Accredited Investors Inc. purchased a new position in shares of Fiserv in the fourth quarter valued at $361,000. Scotia Capital Inc. lifted its stake in Fiserv by 24.6% during the fourth quarter. Scotia Capital Inc. now owns 16,283 shares of the business services provider’s stock worth $3,345,000 after purchasing an additional 3,215 shares during the last quarter. CenterBook Partners LP grew its position in shares of Fiserv by 420.4% in the 4th quarter. CenterBook Partners LP now owns 18,171 shares of the business services provider’s stock worth $3,733,000 after buying an additional 14,679 shares during the period. Finally, DRW Securities LLC lifted its stake in Fiserv by 4.5% during the 4th quarter. DRW Securities LLC now owns 5,344 shares of the business services provider’s stock valued at $1,098,000 after acquiring an additional 228 shares during the period. 90.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FI has been the subject of several research analyst reports. KeyCorp lifted their target price on Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Citigroup lifted their price objective on Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Oppenheimer boosted their price target on Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. StockNews.com initiated coverage on Fiserv in a research report on Sunday, March 23rd. They set a “buy” rating on the stock. Finally, Barclays lifted their price objective on Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, one has given a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $239.35.

Insider Activity

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $235.55, for a total value 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. The trade was a 16.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.75% of the company’s stock.

Fiserv Stock Performance

Shares of FI stock traded down $4.01 on Thursday, hitting $206.37. 242,206 shares of the stock traded hands, compared to its average volume of 2,695,688. The company’s fifty day moving average is $221.65 and its 200 day moving average is $210.03. Fiserv, Inc. has a 1-year low of $145.98 and a 1-year high of $238.59. The company has a market capitalization of $115.27 billion, a PE ratio of 38.29, a PEG ratio of 1.52 and a beta of 0.91. 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 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%. On average, equities research analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its board has initiated a share repurchase plan on Thursday, February 20th that permits the company to buyback 60,000,000 outstanding shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign 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.