Cannell & Spears LLC Sells 31,477 Shares of Fiserv, Inc. (NYSE:FI)

Cannell & Spears LLC trimmed its holdings in shares of Fiserv, Inc. (NYSE:FI) by 14.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 183,795 shares of the business services provider’s stock after selling 31,477 shares during the period. Cannell & Spears LLC’s holdings in Fiserv were worth $37,755,000 as of its most recent filing with the SEC.

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

Fiserv Trading Down 1.4 %

Shares of FI opened at $216.15 on Monday. 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 $121.32 billion, a P/E ratio of 40.10, a P/E/G ratio of 1.52 and a beta of 0.93. 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 firm’s 50 day simple moving average is $222.00 and its 200 day simple moving average is $208.17.

Fiserv (NYSE:FI) last posted its quarterly earnings data 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%. Sell-side analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its Board of Directors has initiated a share repurchase 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 often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FI shares. StockNews.com assumed coverage on shares of Fiserv in a report on Sunday, March 23rd. They issued a “buy” rating for the company. Wells Fargo & Company lifted their target price on Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Royal Bank of Canada upped their price target on Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Stephens lifted their price objective on Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Oppenheimer upped their target price 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 investment 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $242.32.

Insiders Place Their Bets

In other news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $235.55, for a total value of $10,599,750.00. Following the completion of the sale, the chief operating officer now owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.75% of the stock is owned by insiders.

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.