Mill Capital Management LLC Sells 344 Shares of Fiserv, Inc. (NYSE:FI)

Mill Capital Management LLC cut its position in shares of Fiserv, Inc. (NYSE:FI) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 135,857 shares of the business services provider’s stock after selling 344 shares during the period. Fiserv makes up about 2.2% of Mill Capital Management LLC’s portfolio, making the stock its 14th biggest holding. Mill Capital Management LLC’s holdings in Fiserv were worth $27,908,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Valley National Advisers Inc. purchased a new stake in Fiserv during the fourth quarter valued at approximately $29,000. Marshall Investment Management LLC purchased a new stake in Fiserv during the fourth quarter valued at approximately $29,000. Compass Financial Services Inc purchased a new stake in Fiserv during the fourth quarter valued at approximately $31,000. Campbell Capital Management Inc. purchased a new stake in Fiserv during the fourth quarter valued at approximately $37,000. Finally, Knuff & Co LLC purchased a new stake in Fiserv during the fourth quarter valued at approximately $45,000. 90.98% of the stock is owned by institutional investors.

Fiserv Stock Down 1.7 %

Shares of FI stock opened at $218.01 on Monday. Fiserv, Inc. has a 1-year low of $145.98 and a 1-year high of $238.59. The stock’s fifty day moving average price is $220.46 and its 200 day moving average price is $206.46. 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 $122.37 billion, a price-to-earnings ratio of 40.45, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

Fiserv (NYSE:FI) last announced its earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. On average, research analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FI. Morgan Stanley upped their price objective on Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Citigroup upped their price objective on Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. StockNews.com downgraded Fiserv from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Wells Fargo & Company increased their price target on Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, Seaport Res Ptn upgraded Fiserv from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $239.83.

Insider Buying and Selling

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the business’s 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 owns 227,711 shares in the company, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.75% of the stock is owned by company insiders.

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.