New South Capital Management Inc. Cuts Stake in Fiserv, Inc. (NYSE:FI)

New South Capital Management Inc. lessened its stake in shares of Fiserv, Inc. (NYSE:FI) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 566,754 shares of the business services provider’s stock after selling 30,572 shares during the quarter. Fiserv comprises 4.9% of New South Capital Management Inc.’s investment portfolio, making the stock its 5th biggest holding. New South Capital Management Inc. owned about 0.10% of Fiserv worth $116,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. FMR LLC raised its holdings in shares of Fiserv by 17.8% in the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after acquiring an additional 1,427,664 shares during the last quarter. Sanders Capital LLC acquired a new stake in shares of Fiserv in the 3rd quarter worth about $764,543,000. Bank of New York Mellon Corp raised its holdings in shares of Fiserv by 4.7% in the 4th quarter. Bank of New York Mellon Corp now owns 3,711,072 shares of the business services provider’s stock worth $762,328,000 after acquiring an additional 164,949 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Fiserv by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,620,785 shares of the business services provider’s stock worth $743,782,000 after acquiring an additional 90,475 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of Fiserv by 3.0% in the 3rd quarter. Barclays PLC now owns 1,685,157 shares of the business services provider’s stock worth $302,737,000 after acquiring an additional 48,413 shares during the last quarter. Institutional investors own 90.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on FI. Seaport Res Ptn upgraded shares of Fiserv from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Wells Fargo & Company increased their price objective on shares of Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. 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 price objective for the company. Citigroup raised their price target on shares of Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Finally, BMO Capital Markets raised their price target on shares of Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Three equities research 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $239.83.

Insider Activity

In related news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.75% of the company’s stock.

Fiserv Stock Up 1.0 %

Shares of NYSE:FI opened at $226.07 on Thursday. The firm has a fifty day moving average price of $217.92 and a two-hundred day moving average price of $202.41. 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 one year low of $145.98 and a one year high of $238.59. The company has a market cap of $126.89 billion, a price-to-earnings ratio of 41.94, a PEG ratio of 1.52 and a beta of 0.93.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, beating 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 anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its Board of Directors has approved a share repurchase program on Thursday, February 20th that allows the company to repurchase 60,000,000 outstanding shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are 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.