DORCHESTER WEALTH MANAGEMENT Co Decreases Stock Holdings in Fiserv, Inc. (NYSE:FI)

DORCHESTER WEALTH MANAGEMENT Co decreased its holdings in shares of Fiserv, Inc. (NYSE:FI) by 0.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 9,247 shares of the business services provider’s stock after selling 50 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Fiserv were worth $1,900,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. FMR LLC raised its stake in Fiserv by 17.8% during the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after purchasing an additional 1,427,664 shares in the last quarter. Sanders Capital LLC purchased a new stake in Fiserv during the third quarter valued at $764,543,000. Barclays PLC raised its stake in Fiserv by 3.0% during the third quarter. Barclays PLC now owns 1,685,157 shares of the business services provider’s stock valued at $302,737,000 after purchasing an additional 48,413 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Fiserv by 0.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,317,778 shares of the business services provider’s stock valued at $236,739,000 after purchasing an additional 4,218 shares in the last quarter. Finally, Provident Trust Co. raised its stake in Fiserv by 15.8% during the fourth quarter. Provident Trust Co. now owns 1,278,089 shares of the business services provider’s stock valued at $262,545,000 after purchasing an additional 174,505 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insiders Place Their Bets

In other news, COO Guy Chiarello sold 45,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $235.55, for a total value of $10,599,750.00. Following the sale, the chief operating officer now directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. This trade represents a 16.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.75% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

FI has been the topic of a number of recent research reports. Royal Bank of Canada upped their price target on shares of Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Wells Fargo & Company increased their target price on shares of Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Barclays increased their target price on shares of 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 increased their target price on shares of Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, KeyCorp increased their target price on shares of Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Fiserv has an average rating of “Buy” and a consensus target price of $239.83.

Fiserv Stock Down 0.8 %

Shares of Fiserv stock 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 firm’s 50-day moving average is $213.81 and its two-hundred day moving average is $198.56. The stock 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 issued its earnings results 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 net margin of 15.31% and a return on equity of 17.93%. As a group, 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 share repurchase plan on Thursday, February 20th that permits the company to repurchase 60,000,000 outstanding shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign 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.