Todd Asset Management LLC Reduces Holdings in Fiserv, Inc. (NYSE:FI)

Todd Asset Management LLC reduced its position in shares of Fiserv, Inc. (NYSE:FI) by 15.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 219,895 shares of the business services provider’s stock after selling 41,463 shares during the period. Fiserv accounts for about 1.1% of Todd Asset Management LLC’s investment portfolio, making the stock its 29th largest position. Todd Asset Management LLC’s holdings in Fiserv were worth $45,171,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. FMR LLC boosted its stake in shares of Fiserv by 17.8% during the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after purchasing an additional 1,427,664 shares during the last quarter. Sanders Capital LLC acquired a new stake in shares of Fiserv during the 3rd quarter worth about $764,543,000. Bank of New York Mellon Corp boosted its stake in shares of Fiserv by 4.7% during the 4th quarter. Bank of New York Mellon Corp now owns 3,711,072 shares of the business services provider’s stock worth $762,328,000 after purchasing an additional 164,949 shares during the last quarter. Barclays PLC boosted its stake in shares of Fiserv by 3.0% during the 3rd quarter. Barclays PLC now owns 1,685,157 shares of the business services provider’s stock worth $302,737,000 after purchasing an additional 48,413 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Fiserv by 0.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,317,778 shares of the business services provider’s stock worth $236,739,000 after acquiring an additional 4,218 shares during the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Fiserv Trading Down 0.2 %

Shares of NYSE FI opened at $231.83 on Tuesday. The stock has a market cap of $130.12 billion, a price-to-earnings ratio of 43.01, a PEG ratio of 1.52 and a beta of 0.94. The business has a 50 day simple moving average of $214.38 and a 200 day simple moving average of $199.36. Fiserv, Inc. has a 52 week low of $145.98 and a 52 week high of $237.99. 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 announced its quarterly earnings results 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 return on equity of 17.93% and a net margin of 15.31%. On average, research analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its board has initiated a stock repurchase program on Thursday, February 20th that authorizes the company to buyback 60,000,000 shares. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the company’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 in the company, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.75% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. BMO Capital Markets raised their price target on shares of Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company raised their price target on shares of Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Citigroup lifted their price target on shares of Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research note 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Fiserv has a consensus rating of “Buy” and an average price target 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.