Selway Asset Management Sells 4,350 Shares of Fiserv, Inc. (NYSE:FI)

Selway Asset Management decreased its stake in Fiserv, Inc. (NYSE:FI) by 11.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,655 shares of the business services provider’s stock after selling 4,350 shares during the quarter. Fiserv accounts for about 2.8% of Selway Asset Management’s investment portfolio, making the stock its 8th largest holding. Selway Asset Management’s holdings in Fiserv were worth $7,119,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Valley National Advisers Inc. purchased a new stake in shares of Fiserv in the fourth quarter valued at $29,000. Marshall Investment Management LLC purchased a new stake in Fiserv in the 4th quarter worth about $29,000. Compass Financial Services Inc acquired a new stake in Fiserv during the 4th quarter worth about $31,000. Campbell Capital Management Inc. purchased a new position in Fiserv during the 4th quarter valued at about $37,000. Finally, Knuff & Co LLC acquired a new position in shares of Fiserv in the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Trading Up 2.0 %

Shares of Fiserv stock opened at $226.39 on Thursday. The company has a market cap of $127.07 billion, a price-to-earnings ratio of 42.00, a PEG 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’s fifty day simple moving average is $222.85 and its 200-day simple moving average is $208.96. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86.

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 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 EPS for the current year.

Fiserv declared that its board has approved a share repurchase program on Thursday, February 20th that allows the company to buyback 60,000,000 shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Morgan Stanley raised their price target on shares of Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Royal Bank of Canada boosted their price target on shares of Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. KeyCorp increased their price objective on Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. StockNews.com initiated coverage on Fiserv in a research report on Sunday, March 23rd. They issued a “buy” rating on the stock. Finally, BMO Capital Markets lifted their price target on Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Fiserv has an average rating of “Buy” and an average price target of $243.64.

About Fiserv

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.