Amalgamated Bank Trims Stock Position in Fiserv, Inc. (NYSE:FI)

Amalgamated Bank decreased its stake in Fiserv, Inc. (NYSE:FI) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 117,907 shares of the business services provider’s stock after selling 848 shares during the period. Amalgamated Bank’s holdings in Fiserv were worth $24,220,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Marshall Investment Management LLC acquired a new stake in shares of Fiserv in the fourth quarter valued at approximately $29,000. Valley National Advisers Inc. purchased a new position in Fiserv during the 4th quarter worth $29,000. Compass Financial Services Inc purchased a new position in Fiserv during the 4th quarter worth $31,000. Kennebec Savings Bank purchased a new position in Fiserv during the 3rd quarter worth $40,000. Finally, Roxbury Financial LLC purchased a new stake in shares of Fiserv in the fourth quarter valued at about $50,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FI shares. Royal Bank of Canada boosted their price target on Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Oppenheimer increased their price target on Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. KeyCorp boosted their price objective on shares of Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Tigress Financial raised their target price on shares of Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Finally, BMO Capital Markets boosted their price target 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. Two research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $239.83.

Insider Buying and Selling at Fiserv

In other news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.75% of the stock is currently owned by insiders.

Fiserv Stock Performance

Fiserv stock opened at $231.83 on Tuesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $237.99. The stock has a fifty day moving average of $214.38 and a two-hundred day moving average of $199.36. The company has a market capitalization of $130.12 billion, a price-to-earnings ratio of 43.01, a PEG ratio of 1.52 and a beta of 0.94.

Fiserv (NYSE:FI) last announced its earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, beating 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, analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its board has approved a share buyback plan on Thursday, February 20th that authorizes the company to buyback 60,000,000 shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors 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.