Nicollet Investment Management Inc. Sells 176 Shares of Fiserv, Inc. (NYSE:FI)

Nicollet Investment Management Inc. cut its stake in shares of Fiserv, Inc. (NYSE:FI) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,122 shares of the business services provider’s stock after selling 176 shares during the quarter. Fiserv comprises approximately 2.4% of Nicollet Investment Management Inc.’s portfolio, making the stock its 12th biggest position. Nicollet Investment Management Inc.’s holdings in Fiserv were worth $7,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of FI. Czech National Bank boosted its stake in Fiserv by 5.2% during the 4th quarter. Czech National Bank now owns 123,353 shares of the business services provider’s stock valued at $25,339,000 after purchasing an additional 6,072 shares during the last quarter. Chiron Investment Management LLC purchased a new position in Fiserv in the 3rd quarter worth about $4,709,000. Trust Co. of Vermont raised its position in 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 last quarter. Cardano Risk Management B.V. purchased a new stake in shares of Fiserv during the 4th quarter valued at about $97,254,000. Finally, M&T Bank Corp grew its stake in shares of Fiserv by 12.0% in the third quarter. M&T Bank Corp now owns 140,460 shares of the business services provider’s stock worth $25,234,000 after acquiring an additional 15,103 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Price Performance

Shares of NYSE:FI opened at $221.19 on Tuesday. The firm has a market cap of $124.15 billion, a price-to-earnings ratio of 41.04, a P/E/G ratio of 1.52 and a beta of 0.93. The firm has a fifty day moving average price of $222.25 and a 200 day moving average price of $208.51. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $238.59. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06.

Fiserv (NYSE:FI) last released its quarterly earnings data 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 expect that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. StockNews.com assumed coverage on Fiserv in a report on Sunday, March 23rd. They set a “buy” rating on the stock. Susquehanna raised their price target on Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, February 10th. BMO Capital Markets upped their price objective on Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Oppenheimer upped their price target on shares of Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Two research 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 MarketBeat, the stock has an average rating of “Buy” and an average target price of $242.32.

Insiders Place Their Bets

In related news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction on 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 sale, the chief operating officer now owns 227,711 shares in the company, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.75% of the company’s stock.

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.