Fiserv, Inc. (NYSE:FI) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. decreased its position in Fiserv, Inc. (NYSE:FI) by 22.9% during the 4th quarter, Holdings Channel reports. The fund owned 2,060,508 shares of the business services provider’s stock after selling 610,730 shares during the quarter. Franklin Resources Inc.’s holdings in Fiserv were worth $423,270,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in FI. B. Metzler seel. Sohn & Co. AG increased its position in Fiserv by 4.5% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 31,392 shares of the business services provider’s stock worth $6,449,000 after purchasing an additional 1,347 shares during the period. Seven Mile Advisory acquired a new position in Fiserv during the fourth quarter worth $246,000. Summit Financial LLC grew its holdings in Fiserv by 30.7% during the fourth quarter. Summit Financial LLC now owns 5,520 shares of the business services provider’s stock worth $1,134,000 after acquiring an additional 1,295 shares during the period. Alliancebernstein L.P. raised its position in Fiserv by 65.6% in the fourth quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock worth $1,116,919,000 after acquiring an additional 2,153,554 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in Fiserv by 635.5% in the fourth quarter. Meeder Asset Management Inc. now owns 1,346 shares of the business services provider’s stock valued at $276,000 after acquiring an additional 1,163 shares during the period. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction 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 transaction, the chief operating officer now owns 227,711 shares in the company, valued at $53,637,326.05. This trade represents a 16.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.75% of the stock is currently owned by company insiders.

Fiserv Price Performance

FI stock opened at $221.19 on Tuesday. The stock has a market capitalization of $124.15 billion, a price-to-earnings ratio of 41.04, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. Fiserv, Inc. has a 52-week low of $145.98 and a 52-week high of $238.59. The stock’s fifty day simple moving average is $222.25 and its 200-day simple moving average is $208.51.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (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%. Equities research analysts expect that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its Board of Directors has authorized a share buyback plan on Thursday, February 20th that permits the company to repurchase 60,000,000 outstanding shares. This repurchase authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FI. Seaport Res Ptn upgraded shares of Fiserv from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Keefe, Bruyette & Woods boosted their price target on Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Wells Fargo & Company upped their price target on Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. BMO Capital Markets lifted their price objective on Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Citigroup upped their target price on Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $242.32.

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.