Forvis Mazars Wealth Advisors LLC Cuts Stake in Fiserv, Inc. (NYSE:FI)

Forvis Mazars Wealth Advisors LLC lowered its position in Fiserv, Inc. (NYSE:FI) by 4.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 22,383 shares of the business services provider’s stock after selling 1,014 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Fiserv were worth $4,598,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FI. Catalina Capital Group LLC boosted its position in shares of Fiserv by 2.3% during the fourth quarter. Catalina Capital Group LLC now owns 2,160 shares of the business services provider’s stock valued at $444,000 after buying an additional 48 shares during the last quarter. Mount Yale Investment Advisors LLC boosted its position in Fiserv by 1.2% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 4,126 shares of the business services provider’s stock worth $848,000 after purchasing an additional 50 shares during the last quarter. Hemington Wealth Management boosted its position in 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. Wealthcare Advisory Partners LLC boosted its position in Fiserv by 3.0% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 1,752 shares of the business services provider’s stock worth $360,000 after purchasing an additional 51 shares during the last quarter. Finally, Optas LLC boosted its position in Fiserv by 1.7% in the third quarter. Optas LLC now owns 3,216 shares of the business services provider’s stock worth $578,000 after purchasing an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FI. Morgan Stanley raised their target price on Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Barclays raised their target price on Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Wells Fargo & Company raised their target price on Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Citigroup raised their target price on Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, Tigress Financial raised their target price on Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Two analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $239.83.

Fiserv Stock Performance

NYSE:FI opened at $232.47 on Friday. 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 1 year low of $145.98 and a 1 year high of $237.99. The stock’s 50 day simple moving average is $213.81 and its two-hundred day simple moving average is $198.56. The company has a market cap of $132.26 billion, a price-to-earnings ratio of 43.13, a PEG ratio of 1.52 and a beta of 0.94.

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

Fiserv declared that its board has approved a stock buyback program on Thursday, February 20th that authorizes the company to repurchase 60,000,000 shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Activity at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was 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 directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.75% of the stock is owned by company insiders.

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.