Fiserv, Inc. (NYSE:FI) Stock Position Lessened by Redmond Asset Management LLC

Redmond Asset Management LLC decreased its position in shares of Fiserv, Inc. (NYSE:FI) by 4.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 44,237 shares of the business services provider’s stock after selling 2,130 shares during the period. Fiserv accounts for approximately 2.3% of Redmond Asset Management LLC’s portfolio, making the stock its 5th largest holding. Redmond Asset Management LLC’s holdings in Fiserv were worth $9,087,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Soros Capital Management LLC lifted its stake 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 buying an additional 22,884 shares during the period. Czech National Bank lifted its stake in shares of 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 acquired a new position in Fiserv during the third quarter worth approximately $4,709,000. Trust Co. of Vermont increased its position in Fiserv by 170.4% during the fourth quarter. Trust Co. of Vermont now owns 6,839 shares of the business services provider’s stock worth $1,405,000 after purchasing an additional 4,310 shares during the last quarter. Finally, Cardano Risk Management B.V. acquired a new position in Fiserv during the fourth quarter worth approximately $97,254,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Trading Down 0.8 %

NYSE FI opened at $232.47 on Friday. Fiserv, Inc. has a 12 month low of $145.98 and a 12 month high of $237.99. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The company has a market capitalization of $132.26 billion, a price-to-earnings ratio of 43.13, a price-to-earnings-growth ratio of 1.53 and a beta of 0.94. The company’s fifty day moving average price is $213.81 and its two-hundred day moving average price is $198.28.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, research analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

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

Insider Transactions at Fiserv

In other news, COO Guy Chiarello sold 45,000 shares of the firm’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 approximately $53,637,326.05. This trade represents a 16.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

FI has been the subject of several research analyst reports. Citigroup upped their price target on shares of Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Oppenheimer upped their price target on shares of Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Tigress Financial upped their price target on shares of Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Morgan Stanley upped their price target on shares of Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods increased their price objective 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. Two investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Fiserv has a consensus rating of “Buy” and a consensus target price of $239.83.

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.