Summitry LLC Has $106.65 Million Position in Fiserv, Inc. (NYSE:FI)

Summitry LLC reduced its stake in Fiserv, Inc. (NYSE:FI) by 17.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 519,163 shares of the business services provider’s stock after selling 108,864 shares during the quarter. Fiserv makes up 5.2% of Summitry LLC’s investment portfolio, making the stock its 3rd biggest position. Summitry LLC’s holdings in Fiserv were worth $106,646,000 at the end of the most recent reporting period.

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

Insider Activity at Fiserv

In other news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 0.75% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FI. KeyCorp lifted their price target on Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. StockNews.com lowered shares of Fiserv from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Citigroup lifted their price objective on shares of Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods increased their target price on shares of Fiserv from $238.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Seaport Res Ptn raised Fiserv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $239.83.

Fiserv Price Performance

Shares of NYSE FI opened at $222.65 on Wednesday. The firm’s 50 day simple moving average is $221.23 and its 200-day simple moving average is $207.18. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. Fiserv, Inc. has a 12 month low of $145.98 and a 12 month high of $238.59. The stock has a market capitalization of $124.97 billion, a price-to-earnings ratio of 41.31, a PEG ratio of 1.52 and a beta of 0.93.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 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%. Analysts expect that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its board has approved a share buyback plan on Thursday, February 20th that allows the company to repurchase 60,000,000 outstanding shares. This repurchase authorization allows the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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.