Somerville Kurt F Decreases Stock Holdings in Fiserv, Inc. (NYSE:FI)
Somerville Kurt F lessened its holdings in Fiserv, Inc. (NYSE:FI - Free Report) by 5.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 128,150 shares of the business services provider's stock after selling 7,526 shares during the period. Fiserv accounts for approximately 4.4% of Somerville Kurt F's portfolio, making the stock its 5th largest holding. Somerville Kurt F's holdings in Fiserv were worth $26,325,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of Fiserv by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 11,891,207 shares of the business services provider's stock valued at $2,435,280,000 after acquiring an additional 218,833 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Fiserv by 16.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,030,889 shares of the business services provider's stock valued at $1,649,705,000 after purchasing an additional 1,121,597 shares in the last quarter. Norges Bank bought a new stake in Fiserv during the fourth quarter valued at approximately $1,406,452,000. Alliancebernstein L.P. grew its stake in Fiserv by 65.6% in the 4th quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider's stock worth $1,116,919,000 after buying an additional 2,153,554 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in 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 buying an additional 164,949 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.
FI stock opened at $216.77 on Friday. The firm has a 50-day moving average of $223.06 and a 200 day moving average of $209.02. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The company has a market cap of $121.67 billion, a P/E ratio of 40.22, a PEG ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a 1 year low of $145.98 and a 1 year high of $238.59.
Fiserv (NYSE:FI - Get Free Report) last released its earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS 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, sell-side analysts forecast 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 purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.
A number of research firms have recently issued reports on FI. Royal Bank of Canada lifted their price objective on shares of Fiserv from $255.00 to $270.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. The Goldman Sachs Group raised Fiserv from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $246.00 to $260.00 in a research note on Wednesday. StockNews.com began coverage on Fiserv in a report on Sunday, March 23rd. They set a "buy" rating on the stock. Oppenheimer upped their target price on Fiserv from $214.00 to $239.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. Finally, Morgan Stanley lifted their price target on shares of Fiserv from $258.00 to $267.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Fiserv currently has an average rating of "Buy" and an average target price of $243.64.
Check Out Our Latest Stock Report on Fiserv
In related news, COO Guy Chiarello sold 45,000 shares of the business's stock in a transaction dated 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 sale, the chief operating officer now owns 227,711 shares of the company's stock, valued at $53,637,326.05. The trade was a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.75% of the company's stock.
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.
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