Skandinaviska Enskilda Banken AB publ Cuts Position in Fiserv, Inc. (NYSE:FI)

Skandinaviska Enskilda Banken AB publ decreased its position in Fiserv, Inc. (NYSE:FI) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 116,725 shares of the business services provider’s stock after selling 3,545 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Fiserv were worth $24,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Valley National Advisers Inc. bought a new position in shares of Fiserv in the 4th quarter valued at about $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 bought a new stake in shares of Fiserv in the 4th quarter valued at approximately $31,000. Knuff & Co LLC purchased a new position in shares of Fiserv in the 4th quarter worth approximately $45,000. Finally, Friedenthal Financial bought a new position in shares of Fiserv during the 4th quarter valued at approximately $49,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Price Performance

NYSE FI opened at $209.23 on Friday. The company has a market cap of $117.44 billion, a PE ratio of 38.82, a P/E/G ratio of 1.52 and a beta of 0.93. The firm’s 50 day moving average price is $218.83 and its 200-day moving average price is $204.09. 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 52-week low of $145.98 and a 52-week high of $238.59.

Fiserv (NYSE:FI) last announced its earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its Board of Directors has approved a stock repurchase plan on Thursday, February 20th that allows the company to buyback 60,000,000 shares. This buyback authorization allows the business services provider to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Compass Point began coverage on shares of Fiserv in a research note on Wednesday, November 20th. They set a “buy” rating and a $278.00 price objective for the company. Oppenheimer raised their target price on shares of Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Morgan Stanley increased their price objective on shares of Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. BMO Capital Markets raised their price objective on shares of Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, StockNews.com lowered Fiserv from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $239.83.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were 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 of the company’s stock, valued at $53,637,326.05. This represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.75% of the stock is owned by corporate 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.