Centurion Wealth Management LLC Reduces Holdings in Fiserv, Inc. (NYSE:FI)

Centurion Wealth Management LLC reduced its holdings in shares of Fiserv, Inc. (NYSE:FI) by 5.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 8,365 shares of the business services provider’s stock after selling 463 shares during the period. Centurion Wealth Management LLC’s holdings in Fiserv were worth $1,718,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Soros Capital Management LLC increased its holdings in Fiserv by 71.7% during the 3rd quarter. Soros Capital Management LLC now owns 54,797 shares of the business services provider’s stock valued at $9,844,000 after acquiring an additional 22,884 shares in the last quarter. Czech National Bank boosted its stake in shares of Fiserv by 5.2% during the 4th quarter. Czech National Bank now owns 123,353 shares of the business services provider’s stock worth $25,339,000 after purchasing an additional 6,072 shares during the last quarter. Chiron Investment Management LLC acquired a new stake in shares of Fiserv during the 3rd quarter worth about $4,709,000. Trust Co. of Vermont boosted its stake in shares of Fiserv by 170.4% during the 4th quarter. Trust Co. of Vermont now owns 6,839 shares of the business services provider’s stock worth $1,405,000 after purchasing an additional 4,310 shares during the last quarter. Finally, Cardano Risk Management B.V. acquired a new stake in shares of Fiserv during the 4th quarter worth about $97,254,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Fiserv Trading Up 2.6 %

FI opened at $214.91 on Friday. The firm has a market capitalization of $120.62 billion, a P/E ratio of 39.87, a P/E/G ratio of 1.52 and a beta of 0.93. The firm’s 50 day moving average is $218.96 and its 200-day moving average is $204.64. Fiserv, Inc. has a 52-week low of $145.98 and a 52-week high of $238.59. 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 posted its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. Analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its Board of Directors has initiated a share repurchase program on Thursday, February 20th that authorizes the company to repurchase 60,000,000 shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

FI has been the topic of several analyst reports. BMO Capital Markets raised 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. The Goldman Sachs Group raised their price target on shares of Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Seaport Res Ptn raised shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Oppenheimer raised their target price on shares of Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Finally, KeyCorp raised their target price on shares of Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Fiserv presently has a consensus rating of “Moderate Buy” and an average price target of $239.83.

Insider Activity

In other news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.75% of the company’s stock.

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.