Fiserv, Inc. (NYSE:FI) Stock Holdings Lessened by Covey Capital Advisors LLC

Covey Capital Advisors LLC reduced its holdings in Fiserv, Inc. (NYSE:FI) by 4.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 11,983 shares of the business services provider’s stock after selling 594 shares during the quarter. Fiserv makes up 2.8% of Covey Capital Advisors LLC’s portfolio, making the stock its 13th biggest position. Covey Capital Advisors LLC’s holdings in Fiserv were worth $2,462,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FI. Foundations Investment Advisors LLC lifted its position in shares of Fiserv by 3.7% in the 3rd quarter. Foundations Investment Advisors LLC now owns 4,660 shares of the business services provider’s stock worth $837,000 after buying an additional 165 shares during the last quarter. Eastern Bank acquired a new stake in shares of Fiserv in the 3rd quarter worth about $50,000. Commerzbank Aktiengesellschaft FI increased its holdings in shares of Fiserv by 41.4% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 3,221 shares of the business services provider’s stock worth $579,000 after acquiring an additional 943 shares during the period. Courier Capital LLC acquired a new stake in shares of Fiserv in the 3rd quarter worth about $238,000. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of Fiserv in the 3rd quarter worth about $202,000. 90.98% of the stock is currently owned by institutional investors.

Fiserv Stock Performance

Shares of FI opened at $234.63 on Friday. The company’s 50 day moving average price is $213.26 and its 200 day moving average price is $197.74. Fiserv, Inc. has a 52 week low of $145.98 and a 52 week high of $238.00. The company has a market capitalization of $133.48 billion, a PE ratio of 43.53, a PEG ratio of 1.53 and a beta of 0.94. 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 (NYSE:FI) last announced its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. Research analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

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

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays increased their price objective on shares of Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. BMO Capital Markets lifted 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. Wells Fargo & Company lifted their price objective on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Tigress Financial lifted their price objective on shares of Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Finally, Stephens lifted their price objective on shares of Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $239.83.

Insider Activity at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief operating officer now directly owns 227,711 shares of the company’s stock, valued at $53,637,326.05. The trade was 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 hyperlink. 0.75% of the stock is currently owned by insiders.

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.