Addison Advisors LLC Decreases Stock Position in Fiserv, Inc. (NYSE:FI)

Addison Advisors LLC lessened its stake in shares of Fiserv, Inc. (NYSE:FI) by 2.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 8,159 shares of the business services provider’s stock after selling 238 shares during the period. Addison Advisors LLC’s holdings in Fiserv were worth $1,676,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of FI. Hennion & Walsh Asset Management Inc. raised its holdings in Fiserv by 46.4% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 4,867 shares of the business services provider’s stock valued at $874,000 after buying an additional 1,542 shares during the period. Allworth Financial LP raised its holdings in Fiserv by 11.9% during the 3rd quarter. Allworth Financial LP now owns 4,808 shares of the business services provider’s stock valued at $864,000 after buying an additional 510 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Fiserv by 16.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 55,801 shares of the business services provider’s stock valued at $10,025,000 after buying an additional 7,817 shares during the period. PFG Investments LLC increased its stake in Fiserv by 2.7% in the third quarter. PFG Investments LLC now owns 2,807 shares of the business services provider’s stock worth $504,000 after purchasing an additional 73 shares during the period. Finally, Boston Trust Walden Corp increased its stake in Fiserv by 5.6% in the third quarter. Boston Trust Walden Corp now owns 6,308 shares of the business services provider’s stock worth $1,133,000 after purchasing an additional 333 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the firm’s stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FI. Keefe, Bruyette & Woods increased their target price on Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Compass Point began coverage on Fiserv in a research note on Wednesday, November 20th. They issued a “buy” rating and a $278.00 target price on the stock. Royal Bank of Canada increased their target price on Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. The Goldman Sachs Group increased their target price on Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Citigroup increased their target price on Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $239.83.

Fiserv Price Performance

Shares of FI stock opened at $231.83 on Tuesday. Fiserv, Inc. has a 1-year low of $145.98 and a 1-year high of $237.99. The stock’s 50-day moving average is $214.38 and its 200 day moving average is $199.36. The company has a market cap of $130.12 billion, a P/E ratio of 43.01, a PEG ratio of 1.52 and a beta of 0.94. 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 (NYSE:FI) last issued its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share 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%. Research analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 20th that allows the company to repurchase 60,000,000 shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Fiserv Company 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.