Cibc World Markets Corp Sells 22,017 Shares of Fiserv, Inc. (NYSE:FI)

Cibc World Markets Corp reduced its stake in Fiserv, Inc. (NYSE:FI) by 19.6% during the 4th quarter, HoldingsChannel reports. The fund owned 90,041 shares of the business services provider’s stock after selling 22,017 shares during the quarter. Cibc World Markets Corp’s holdings in Fiserv were worth $18,496,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Soros Capital Management LLC raised its holdings in shares of Fiserv by 71.7% in 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 purchasing an additional 22,884 shares during the last quarter. Czech National Bank increased its stake in Fiserv by 5.2% in the 4th 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 last quarter. Chiron Investment Management LLC acquired a new stake in Fiserv in the 3rd quarter valued at $4,709,000. Trust Co. of Vermont lifted its position in Fiserv by 170.4% during 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 in the last quarter. Finally, Cardano Risk Management B.V. acquired a new position in shares of Fiserv during the 4th quarter worth about $97,254,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on FI shares. Royal Bank of Canada upped their target price on Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Barclays upped their price objective on Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Compass Point initiated coverage on shares of Fiserv in a research note on Wednesday, November 20th. They issued a “buy” rating and a $278.00 target price for the company. Seaport Res Ptn raised shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Finally, Susquehanna boosted their price objective on shares of Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Fiserv presently has a consensus rating of “Moderate Buy” and an average target price of $239.83.

Fiserv Stock Performance

NYSE FI opened at $218.05 on Tuesday. The firm has a 50-day moving average price of $219.21 and a two-hundred day moving average price of $205.19. Fiserv, Inc. has a 12-month low of $145.98 and a 12-month high of $238.59. The company has a market capitalization of $122.39 billion, a P/E ratio of 40.45, a P/E/G ratio of 1.52 and a beta of 0.93. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86.

Fiserv (NYSE:FI) last issued 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 return on equity of 17.93% and a net margin of 15.31%. Analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv announced that its Board of Directors has authorized a stock 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 purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Fiserv 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 transaction of $10,599,750.00. Following the completion of the sale, the chief operating officer now directly owns 227,711 shares in the company, valued at $53,637,326.05. This represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.75% of the stock is owned by company insiders.

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.