Thoroughbred Financial Services LLC Cuts Stock Position in Fiserv, Inc. (NYSE:FI)

Thoroughbred Financial Services LLC decreased its holdings in Fiserv, Inc. (NYSE:FI) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,570 shares of the business services provider’s stock after selling 150 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Fiserv were worth $2,787,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jacobi Capital Management LLC increased its holdings in Fiserv by 0.4% during the 4th quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider’s stock worth $2,281,000 after purchasing an additional 44 shares during the period. Parkside Financial Bank & Trust raised its holdings 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 valued at $841,000 after acquiring an additional 45 shares in the last quarter. Catalina Capital Group LLC lifted 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 acquiring an additional 48 shares during the last quarter. Mount Yale Investment Advisors LLC grew its holdings in Fiserv by 1.2% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 4,126 shares of the business services provider’s stock worth $848,000 after acquiring an additional 50 shares in the last quarter. Finally, Hemington Wealth Management increased its position in shares of Fiserv by 6.1% in the 4th quarter. Hemington Wealth Management now owns 864 shares of the business services provider’s stock valued at $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.

Wall Street Analyst Weigh In

FI has been the subject of a number of analyst reports. StockNews.com assumed coverage on shares of Fiserv in a research note on Sunday, March 23rd. They set a “buy” rating for the company. Seaport Res Ptn raised Fiserv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Morgan Stanley boosted their target price on Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. The Goldman Sachs Group upgraded shares of Fiserv from a “neutral” rating to a “buy” rating and increased their price target for the company from $246.00 to $260.00 in a research note on Wednesday. Finally, BMO Capital Markets boosted their price objective on shares of Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. One equities research 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $243.64.

Fiserv Stock Down 8.4 %

Shares of NYSE:FI opened at $198.77 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. The company has a market cap of $111.57 billion, a price-to-earnings ratio of 36.88, a PEG ratio of 1.52 and a beta of 0.91. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $238.59. The firm’s 50-day simple moving average is $222.85 and its 200-day simple moving average is $209.18.

Fiserv (NYSE:FI) last issued its 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 return on equity of 17.93% and a net margin of 15.31%. As a group, equities research analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv announced that its board has initiated a share buyback plan on Thursday, February 20th that authorizes the company to buyback 60,000,000 shares. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, COO Guy Chiarello sold 45,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.75% of the company’s stock.

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.