Riverwater Partners LLC Reduces Stock Holdings in Fiserv, Inc. (NYSE:FI)

Riverwater Partners LLC lowered its stake in shares of Fiserv, Inc. (NYSE:FI) by 26.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,163 shares of the business services provider’s stock after selling 1,165 shares during the quarter. Riverwater Partners LLC’s holdings in Fiserv were worth $650,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Jacobi Capital Management LLC boosted its position in shares of Fiserv by 0.4% during the fourth quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider’s stock valued at $2,281,000 after buying an additional 44 shares during the period. Parkside Financial Bank & Trust increased its stake in Fiserv by 1.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider’s stock worth $841,000 after purchasing an additional 45 shares during the period. Catalina Capital Group LLC increased its stake in Fiserv by 2.3% in the fourth quarter. Catalina Capital Group LLC now owns 2,160 shares of the business services provider’s stock worth $444,000 after purchasing an additional 48 shares during the period. Mount Yale Investment Advisors LLC boosted its stake in shares of Fiserv by 1.2% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 4,126 shares of the business services provider’s stock valued at $848,000 after purchasing an additional 50 shares during the period. Finally, Hemington Wealth Management grew its holdings in shares of Fiserv by 6.1% in the fourth quarter. Hemington Wealth Management now owns 864 shares of the business services provider’s stock worth $177,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on FI. BMO Capital Markets boosted their price objective 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. StockNews.com started coverage on Fiserv in a research note on Sunday, March 23rd. They issued a “buy” rating on the stock. Citigroup upped their target price on Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Barclays upped their price objective on shares of Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, Royal Bank of Canada raised their target price on shares of Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $243.64.

Insider Activity

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction dated 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 sale, the chief operating officer now directly owns 227,711 shares of the company’s stock, valued at approximately $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 accessible through this link. Corporate insiders own 0.75% of the company’s stock.

Fiserv Stock Performance

Shares of Fiserv stock opened at $198.77 on Friday. The company has a 50 day moving average price of $222.85 and a 200 day moving average price of $209.18. The firm has a market capitalization of $111.57 billion, a P/E ratio of 36.88, a PEG ratio of 1.52 and a beta of 0.91. 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 52 week low of $145.98 and a 52 week high of $238.59.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. Sell-side analysts expect that Fiserv, Inc. will post 10.23 EPS for the current year.

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

Fiserv 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.