1ST Source Bank Sells 60 Shares of Fiserv, Inc. (NYSE:FI)

1ST Source Bank reduced its stake in shares of Fiserv, Inc. (NYSE:FI) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,700 shares of the business services provider’s stock after selling 60 shares during the quarter. 1ST Source Bank’s holdings in Fiserv were worth $965,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Empowered Funds LLC boosted its position in shares of Fiserv by 7.2% during the third quarter. Empowered Funds LLC now owns 9,328 shares of the business services provider’s stock worth $1,676,000 after purchasing an additional 626 shares in the last quarter. Natixis Advisors LLC grew its stake in Fiserv by 5.2% in the third quarter. Natixis Advisors LLC now owns 462,137 shares of the business services provider’s stock valued at $83,023,000 after acquiring an additional 22,913 shares during the period. Adero Partners LLC raised its position in shares of Fiserv by 3.3% during the third quarter. Adero Partners LLC now owns 2,370 shares of the business services provider’s stock worth $426,000 after purchasing an additional 76 shares during the period. Claro Advisors LLC grew its position in shares of Fiserv by 3.3% in the 3rd quarter. Claro Advisors LLC now owns 2,088 shares of the business services provider’s stock valued at $375,000 after purchasing an additional 66 shares during the period. Finally, Quest Partners LLC increased its stake in Fiserv by 72,800.0% during the 3rd quarter. Quest Partners LLC now owns 729 shares of the business services provider’s stock worth $131,000 after purchasing an additional 728 shares in the last quarter. 90.98% of the stock is owned by institutional investors.

Fiserv Price Performance

NYSE:FI opened at $214.91 on Monday. 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, Inc. has a 12-month low of $145.98 and a 12-month high of $238.59. The stock’s 50 day moving average price is $218.96 and its two-hundred day moving average price is $204.87. The firm has a market capitalization of $120.62 billion, a price-to-earnings ratio of 39.87, a P/E/G ratio of 1.52 and a beta of 0.93.

Fiserv (NYSE:FI) last posted 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%. On average, 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 repurchase 60,000,000 shares. This repurchase authorization allows the business services provider to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

FI has been the subject of several research reports. KeyCorp increased their price objective on shares of Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. StockNews.com cut Fiserv from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Wells Fargo & Company boosted their price target on Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. The Goldman Sachs Group increased their price objective on Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Citigroup upped their price target on Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $239.83.

Insider Transactions at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.75% of the stock is currently owned by corporate insiders.

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.