Penobscot Investment Management Company Inc. Sells 1,550 Shares of Fiserv, Inc. (NYSE:FI)

Penobscot Investment Management Company Inc. trimmed its position in Fiserv, Inc. (NYSE:FI) by 8.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,202 shares of the business services provider’s stock after selling 1,550 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Fiserv were worth $3,534,000 at the end of the most recent quarter.

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

Insider Buying and Selling

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 transaction, the chief operating officer now owns 227,711 shares of the company’s stock, valued at $53,637,326.05. The trade was a 16.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.75% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FI. Susquehanna increased their target price on shares of Fiserv from $230.00 to $270.00 and gave the company a “positive” rating in a report on Monday, February 10th. The Goldman Sachs Group increased their price objective 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. Keefe, Bruyette & Woods boosted their target price on Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Seaport Res Ptn raised Fiserv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley boosted their price objective on Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $239.83.

Fiserv Stock Performance

NYSE FI opened at $222.65 on Wednesday. The company’s 50 day simple moving average is $221.23 and its two-hundred day simple moving average is $207.18. 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 $238.59. The stock has a market capitalization of $124.97 billion, a PE ratio of 41.31, a P/E/G ratio of 1.52 and a beta of 0.93.

Fiserv (NYSE:FI) last posted its quarterly earnings data 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%. Analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

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

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.