Twin Capital Management Inc. Reduces Stake in Fiserv, Inc. (NYSE:FI)

Twin Capital Management Inc. trimmed its position in shares of Fiserv, Inc. (NYSE:FI) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,765 shares of the business services provider’s stock after selling 87 shares during the quarter. Twin Capital Management Inc.’s holdings in Fiserv were worth $2,417,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in FI. Geode Capital Management LLC lifted its position in shares of Fiserv by 1.9% in the fourth 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. FMR LLC boosted its position in Fiserv by 22.5% during the fourth quarter. FMR LLC now owns 11,568,895 shares of the business services provider’s stock worth $2,376,482,000 after acquiring an additional 2,126,419 shares during the last quarter. Massachusetts Financial Services Co. MA increased 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 during the last quarter. Norges Bank purchased a new position in Fiserv during the fourth quarter worth about $1,406,452,000. Finally, Alliancebernstein L.P. boosted 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 during the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FI has been the topic of several research reports. Oppenheimer increased their target price on Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Morgan Stanley raised their target price on shares of Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Barclays increased their target price on Fiserv from $235.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. The Goldman Sachs Group upgraded Fiserv from a “neutral” rating to a “buy” rating and upped their price target for the stock from $246.00 to $260.00 in a report on Wednesday, April 2nd. Finally, Royal Bank of Canada boosted their target price on shares of Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Fiserv currently has a consensus rating of “Buy” and a consensus target price of $243.64.

Insider Activity at Fiserv

In related 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 transaction of $10,599,750.00. Following the transaction, the chief operating officer now directly owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.75% of the stock is owned by insiders.

Fiserv Price Performance

NYSE FI opened at $198.77 on Monday. The business’s fifty day moving average is $222.85 and its two-hundred day moving average is $209.66. The stock has a market capitalization of $111.57 billion, a P/E ratio of 36.88, a P/E/G ratio of 1.52 and a beta of 0.91. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. Fiserv, Inc. has a 1 year low of $145.98 and a 1 year high of $238.59.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) 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 forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

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

Fiserv 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.