Centricity Wealth Management LLC Takes $79,000 Position in Fiserv, Inc. (NYSE:FI)

Centricity Wealth Management LLC bought a new position in Fiserv, Inc. (NYSE:FI) during the fourth quarter, HoldingsChannel reports. The firm bought 384 shares of the business services provider’s stock, valued at approximately $79,000.

Other hedge funds have also recently made changes to their positions in the company. Valley National Advisers Inc. purchased a new stake in Fiserv in the 4th quarter valued at about $29,000. Compass Financial Services Inc bought a new position in shares of Fiserv in the fourth quarter valued at approximately $31,000. Kennebec Savings Bank purchased a new stake in shares of Fiserv during the third quarter valued at approximately $40,000. Friedenthal Financial bought a new stake in Fiserv during the fourth quarter worth $49,000. Finally, Eastern Bank purchased a new position in Fiserv in the third quarter worth $50,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Fiserv 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 completion of the sale, the chief operating officer now directly owns 227,711 shares in the company, valued at $53,637,326.05. The trade was 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 owned by company insiders.

Fiserv Stock Down 0.8 %

FI opened at $232.47 on Friday. The firm has a market capitalization of $132.26 billion, a P/E ratio of 43.13, a price-to-earnings-growth ratio of 1.53 and a beta of 0.94. Fiserv, Inc. has a one year low of $145.98 and a one year high of $237.99. The company has a fifty day moving average price of $213.81 and a 200-day moving average price of $198.28. 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 (NYSE:FI) last posted its 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 return on equity of 17.93% and a net margin of 15.31%. Equities research analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its board has initiated 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 purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have recently commented on FI. Tigress Financial lifted their target price on Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Oppenheimer lifted their price objective on shares of Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. BMO Capital Markets increased their target price on shares of Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. KeyCorp lifted their price target on shares of Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, Citigroup increased their price objective on Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Fiserv has an average rating of “Buy” and a consensus target price of $239.83.

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.