Nicollet Investment Management Inc. Sells 176 Shares of Fiserv, Inc. (NYSE:FI)

Nicollet Investment Management Inc. cut its stake in Fiserv, Inc. (NYSE:FI) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,122 shares of the business services provider’s stock after selling 176 shares during the quarter. Fiserv comprises approximately 2.4% of Nicollet Investment Management Inc.’s holdings, making the stock its 12th largest holding. Nicollet Investment Management Inc.’s holdings in Fiserv were worth $7,009,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Valley National Advisers Inc. purchased a new stake in shares of Fiserv in the fourth quarter worth approximately $29,000. Marshall Investment Management LLC purchased a new stake in Fiserv in the fourth quarter worth $29,000. Compass Financial Services Inc purchased a new stake in shares of Fiserv during the fourth quarter valued at $31,000. Campbell Capital Management Inc. bought a new position in shares of Fiserv in the fourth quarter worth about $37,000. Finally, Knuff & Co LLC bought a new stake in Fiserv during the 4th quarter valued at about $45,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Trading Up 2.3 %

Shares of FI opened at $221.19 on Tuesday. Fiserv, Inc. has a 52-week low of $145.98 and a 52-week high of $238.59. The stock has a market cap of $124.15 billion, a PE ratio of 41.04, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The firm’s fifty day moving average is $222.25 and its two-hundred day moving average is $208.51. 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 (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, 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%. Research analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its board has authorized a share repurchase program on Thursday, February 20th that allows the company to buyback 60,000,000 shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FI. Royal Bank of Canada upped their target price on shares of Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Barclays raised their price target on Fiserv from $235.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. BMO Capital Markets boosted 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. Morgan Stanley raised their price target on shares of Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, Stephens boosted 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 research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $242.32.

Insiders Place Their Bets

In related news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was 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. This represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.75% of the stock is owned by insiders.

Fiserv 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.