Reynders McVeigh Capital Management LLC Has $7.01 Million Stock Holdings in Fiserv, Inc. (NYSE:FI)

Reynders McVeigh Capital Management LLC lessened its position in shares of Fiserv, Inc. (NYSE:FI) by 3.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 34,136 shares of the business services provider’s stock after selling 1,218 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Fiserv were worth $7,012,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of FI. Norges Bank bought a new stake in shares of Fiserv during the fourth quarter worth $1,406,452,000. Raymond James Financial Inc. acquired a new stake in shares of Fiserv during the 4th quarter valued at $614,982,000. Alliancebernstein L.P. grew its position in Fiserv by 65.6% during 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 acquiring an additional 2,153,554 shares during the last quarter. FMR LLC increased its holdings in Fiserv by 22.5% in the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider’s stock worth $2,376,482,000 after purchasing an additional 2,126,419 shares in the last quarter. Finally, Winslow Capital Management LLC bought a new position in Fiserv in the fourth quarter valued at about $363,031,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Stock Performance

Shares of Fiserv stock opened at $207.98 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. The business has a 50 day moving average price of $221.27 and a 200-day moving average price of $210.44. Fiserv, Inc. has a 52 week low of $145.98 and a 52 week high of $238.59. The company has a market cap of $116.17 billion, a PE ratio of 38.59, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91.

Fiserv (NYSE:FI) last issued its quarterly 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%. 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 share repurchase plan on Thursday, February 20th that permits the company to buyback 60,000,000 shares. This buyback authorization permits the business services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, COO Guy Chiarello sold 45,000 shares of the firm’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 transaction, the chief operating officer now directly owns 227,711 shares of the company’s stock, valued at $53,637,326.05. This trade represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on FI shares. KeyCorp lifted their target price on shares of Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Wells Fargo & Company lifted their price target on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. BMO Capital Markets increased their price objective on Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a 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, Seaport Res Ptn upgraded Fiserv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $239.35.

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.