Cerity Partners LLC Sells 2,760 Shares of Fiserv, Inc. (NYSE:FI)

Cerity Partners LLC reduced its holdings in shares of Fiserv, Inc. (NYSE:FI) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 406,592 shares of the business services provider’s stock after selling 2,760 shares during the period. Cerity Partners LLC owned 0.07% of Fiserv worth $82,863,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Jacobi Capital Management LLC grew its stake in Fiserv by 0.4% during the fourth quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider’s stock valued at $2,281,000 after acquiring an additional 44 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Fiserv by 1.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider’s stock valued at $841,000 after purchasing an additional 45 shares during the last quarter. Catalina Capital Group LLC grew its position in shares of Fiserv by 2.3% during the fourth quarter. Catalina Capital Group LLC now owns 2,160 shares of the business services provider’s stock valued at $444,000 after purchasing an additional 48 shares in the last quarter. Mount Yale Investment Advisors LLC increased its holdings in shares of Fiserv by 1.2% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 4,126 shares of the business services provider’s stock worth $848,000 after purchasing an additional 50 shares during the last quarter. Finally, Hemington Wealth Management lifted its position in shares of Fiserv by 6.1% in the fourth quarter. Hemington Wealth Management now owns 864 shares of the business services provider’s stock worth $177,000 after buying an additional 50 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

Fiserv Price Performance

FI opened at $198.07 on Tuesday. The company has a market capitalization of $111.17 billion, a price-to-earnings ratio of 36.75, a PEG ratio of 1.52 and a beta of 0.91. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. Fiserv, Inc. has a 12-month low of $145.98 and a 12-month high of $238.59. The business’s fifty day simple moving average is $222.55 and its 200-day simple moving average is $209.79.

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%. On average, equities research 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 stock repurchase program on Thursday, February 20th that permits the company to buyback 60,000,000 shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FI shares. Stephens raised their price target on Fiserv from $255.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Susquehanna boosted their price target on shares of Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, February 10th. Wells Fargo & Company increased their price objective on shares of Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Seaport Res Ptn raised shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Finally, StockNews.com initiated coverage on Fiserv in a research note on Sunday, March 23rd. They set a “buy” rating on the stock. One research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $243.64.

Insider Buying and Selling

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the business’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 completion of the transaction, the chief operating officer now directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.75% of the stock is currently owned by 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.