LGT Group Foundation Sells 7,193 Shares of Fiserv, Inc. (NYSE:FI)

LGT Group Foundation trimmed its stake in Fiserv, Inc. (NYSE:FI) by 66.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,579 shares of the business services provider’s stock after selling 7,193 shares during the quarter. LGT Group Foundation’s holdings in Fiserv were worth $735,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Valley National Advisers Inc. bought a new stake in Fiserv in the fourth quarter worth $29,000. Marshall Investment Management LLC bought a new stake in Fiserv in the fourth quarter worth $29,000. Compass Financial Services Inc bought a new stake in Fiserv in the fourth quarter worth $31,000. Kennebec Savings Bank bought a new stake in Fiserv in the third quarter worth $40,000. Finally, Friedenthal Financial bought a new stake in Fiserv in the fourth quarter worth $49,000. 90.98% of the stock is owned by institutional investors.

Fiserv Stock Performance

Shares of FI opened at $237.65 on Tuesday. 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 simple moving average of $217.30 and a two-hundred day simple moving average of $201.84. The stock has a market cap of $133.39 billion, a price-to-earnings ratio of 44.09, a PEG ratio of 1.52 and a beta of 0.94. Fiserv, Inc. has a 52 week low of $145.98 and a 52 week high of $238.59.

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%. On average, analysts expect that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its board has initiated a stock repurchase program on Thursday, February 20th that allows the company to buyback 60,000,000 shares. This buyback authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, COO Guy Chiarello sold 45,000 shares of the 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 completion of the sale, the chief operating officer now owns 227,711 shares in the company, valued at approximately $53,637,326.05. This trade represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FI shares. Oppenheimer boosted their target price on Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. BMO Capital Markets upped their price target on Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. KeyCorp upped their price target on Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Seaport Res Ptn raised Fiserv from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Finally, Morgan Stanley upped their price target on Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Fiserv currently has a consensus rating of “Moderate Buy” and an average target price of $239.83.

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.