ProVise Management Group LLC Cuts Position in Fiserv, Inc. (NYSE:FI)

ProVise Management Group LLC trimmed its position in shares of Fiserv, Inc. (NYSE:FI) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 58,230 shares of the business services provider’s stock after selling 987 shares during the period. ProVise Management Group LLC’s holdings in Fiserv were worth $11,962,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Marshall Investment Management LLC purchased a new position in Fiserv in the fourth quarter valued at approximately $29,000. Valley National Advisers Inc. purchased a new position in Fiserv in the fourth quarter valued at approximately $29,000. Compass Financial Services Inc purchased a new position in Fiserv in the fourth quarter valued at approximately $31,000. Campbell Capital Management Inc. purchased a new position in Fiserv in the fourth quarter valued at approximately $37,000. Finally, Knuff & Co LLC purchased a new position in Fiserv in the fourth quarter valued at approximately $45,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on FI shares. Compass Point started coverage on Fiserv in a report on Wednesday, November 20th. They issued a “buy” rating and a $278.00 price objective for the company. Seaport Res Ptn raised Fiserv from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. The Goldman Sachs Group increased their price objective on Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Royal Bank of Canada increased their price objective on Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods increased their price objective on Fiserv from $238.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Fiserv presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.83.

Insider Activity

In other 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 owns 227,711 shares in the company, 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 filing with the SEC, which is available through the SEC website. Company insiders own 0.75% of the company’s stock.

Fiserv Price Performance

Fiserv stock opened at $216.77 on Wednesday. Fiserv, Inc. has a one year low of $145.98 and a one year 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. The business has a fifty day moving average of $219.47 and a two-hundred day moving average of $205.48. The company has a market cap of $121.67 billion, a P/E ratio of 40.22, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, beating 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%. As a group, analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its board has approved a share 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 buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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.