Welch & Forbes LLC Reduces Stake in Fiserv, Inc. (NYSE:FI)

Welch & Forbes LLC has cut its shares in Fiserv, Inc. (NYSE:FI - Free Report) by 2.4% during the fourth quarter. This information was revealed in the firm's latest Form 13F filing with the Securities and Exchange Commission (SEC). Following the sale of 21,833 shares during the quarter, Welch & Forbes LLC now holds 874,761 shares of this business services provider. This investment represents approximately 2.3% of the company's overall portfolio, making Fiserv its eighth largest position. As per the most recent SEC filing, the firm’s holdings in Fiserv are valued at about $179,694,000, accounting for around 0.15% of the total shares.

In addition, a number of other hedge funds have adjusted their stakes in Fiserv. Valley National Advisers Inc. and Marshall Investment Management LLC both acquired new stakes in the company during the fourth quarter, each valued at about $29,000. Compass Financial Services Inc increased its stake, valuing its new investment at around $31,000. Kennebec Savings Bank also entered the scene by investing approximately $40,000 in the third quarter. Lastly, Friedenthal Financial acquired a new stake worth around $49,000 in Fiserv in the fourth quarter. Collectively, institutional investors and hedge funds own about 90.98% of Fiserv's stock.

Updated Analyst Forecasts

A number of equity research analysts have recently published reports regarding Fiserv shares. On February 6th, Stephens raised their target price for Fiserv from $255.00 to $270.00, rating the stock as “overweight.” Conversely, StockNews.com downgraded Fiserv from a “buy” rating to a “hold” rating in a report published on February 25th. The Goldman Sachs Group also increased their target price, moving it from $208.00 to $231.00 while maintaining a “neutral” rating as per their report dated December 3rd. Royal Bank of Canada similarly adjusted their target price from $255.00 to $270.00 and rated the stock as “outperform.” Finally, Wells Fargo & Company raised their target price from $240.00 to $270.00, designating Fiserv as “overweight.” Overall, three analysts rate the stock with a hold, twenty-one analysts with a buy, and two with a strong buy rating. Based on MarketBeat.com data, the stock has a consensus rating of “Moderate Buy” and an average target price set at $239.83.

Recent Insider Transactions

In related insider activity, Fiserv's COO, Guy Chiarello, sold 45,000 shares of the company on February 20th. The shares were sold at an average price of $235.55, accumulating a total value of $10,599,750. As a result of this transaction, Chiarello now directly holds 227,711 shares valued at approximately $53,637,326.05, marking a 16.50% decrease in his ownership stake. This transaction was disclosed to the SEC, where the information is accessible for public view. Currently, corporate insiders possess about 0.75% of the Fiserv stock.

Stock Performance Overview

Fiserv shares opened at $219.75 on Friday. The company presents a current ratio of 1.06, a quick ratio of 1.07, and a debt-to-equity ratio of 0.86. Over the past year, Fiserv has seen a low of $145.98 and a high of $238.59. The stock maintains a 50-day moving average at $218.11 and a 200-day moving average at $202.53. With a market capitalization of $123.34 billion, the company has a price-to-earnings (P/E) ratio of 40.77 and a P/E growth (P/E/G) ratio of 1.52. Fiserv’s beta is rated at 0.93, indicating a relatively low volatility compared to the market.

Fiserv reported its earnings results on February 5th, announcing earnings per share (EPS) of $2.51 for the quarter, slightly surpassing the consensus estimate of $2.48 by $0.03. The company noted a return on equity of 17.93% and a net margin of 15.31%. Analysts forecast Fiserv, Inc. to post an EPS of 10.23 for the current year.

Furthermore, on February 20th, Fiserv’s board initiated a stock buyback plan, authorizing the repurchase of up to 60,000,000 shares. This plan allows the company to buy back its stock through open market purchases, often perceived as a sign of undervaluation by the board.

Company Profile

Fiserv, Inc. and its subsidiaries deliver technologies in payments and financial services, catering to clients in the United States, Europe, the Middle East, Africa, Latin America, and the Asia-Pacific. The company operates in several segments, including Merchant Acceptance, Financial Technology, and Payments and Network.

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