Welch & Forbes LLC Reduces Stake in Fiserv, Inc.

Welch & Forbes LLC has decreased its holdings in Fiserv, Inc. (NYSE:FI - Free Report) by 2.4% during the fourth quarter. This information comes from the company's latest Form 13F filing with the Securities and Exchange Commission (SEC). After selling 21,833 shares during the quarter, Welch & Forbes LLC now owns a total of 874,761 shares in the business services provider.

Currently, Fiserv represents about 2.3% of Welch & Forbes LLC's investment portfolio, positioning it as the firm's 8th largest stock. According to the most recent SEC filing, Welch & Forbes LLC's stake in Fiserv is valued at approximately $179,694,000.

Recent Changes by Other Hedge Funds

A variety of other hedge funds have also made adjustments to their investments in Fiserv. Valley National Advisers Inc. and Marshall Investment Management LLC both acquired new stakes in Fiserv during the fourth quarter, each valued at around $29,000. Additionally, Compass Financial Services Inc. added Fiserv to its portfolio with a new stake worth about $31,000. In the third quarter, Kennebec Savings Bank invested approximately $40,000 in Fiserv, while Friedenthal Financial established a new stake valued at about $49,000 in the fourth quarter. Overall, institutional investors and hedge funds hold 90.98% of Fiserv's stock.

Latest Analyst Ratings and Predictions

Several equity research analysts have recently provided their insights and updated their price targets for Fiserv shares. For example, Stephens raised their target price from $255.00 to $270.00 while maintaining an 'overweight' rating on the stock. In a separate report, StockNews.com downgraded its rating from 'buy' to 'hold' for Fiserv. The Goldman Sachs Group recently increased their target price from $208.00 to $231.00, giving Fiserv a 'neutral' rating as well. Royal Bank of Canada announced an increase in target price to $270.00, issuing an 'outperform' rating on February 6. Similarly, Wells Fargo & Company raised its price target for Fiserv from $240.00 to $270.00.

From MarketBeat.com's data, the consensus rating for Fiserv is 'Moderate Buy', with 21 analysts recommending to buy the stock, two giving a strong buy rating, and three advising to hold.

Insider Trading at Fiserv

In addition to these developments, there has been recent insider trading at Fiserv. COO Guy Chiarello sold 45,000 shares of the company on February 20, which amounted to a total of approximately $10,599,750 at an average share price of $235.55. After this transaction, Chiarello still holds 227,711 shares, worth about $53,637,326. The sale represents a 16.50% reduction of his position. The details of this transaction were disclosed in a filing with the SEC, which is part of public records. Currently, corporate insiders own about 0.75% of Fiserv's stock.

Fiserv's Stock Performance Overview

As of last Friday, Fiserv’s shares opened at $219.75. The company has a current ratio of 1.06 and a quick ratio of 1.07. Fiserv's debt-to-equity ratio stands at 0.86. Over the past twelve months, the stock has fluctuated between a low of $145.98 and a high of $238.59. As of now, the 50-day moving average is $218.11 and the 200-day moving average is $202.53, with a market capitalization of $123.34 billion. Fiserv displays a P/E ratio of 40.77 and a P/E/G ratio of 1.52, alongside a beta of 0.93.

In its earnings report released on February 5, Fiserv reported earnings per share (EPS) of $2.51, surpassing the consensus estimate of $2.48 by $0.03. The company showcased a return on equity of 17.93% and a net margin of 15.31%. Analysts expect Fiserv to post an EPS of 10.23 for the current year.

Additionally, on February 20, Fiserv's board announced a stock buyback program allowing the repurchase of up to 60 million shares. Such buyback plans often indicate that the company's leadership believes the stock is undervalued.

About Fiserv, Inc.

Fiserv, Inc., along with its subsidiaries, offers payments and financial technology services across the globe, including regions such as the United States, Europe, the Middle East, Africa, Latin America, the Asia-Pacific, and beyond. The company operates through various segments like Merchant Acceptance, Financial Technology, and Payments and Network.

Conclusion

With recent changes in holdings and analyst ratings, Fiserv continues to attract attention from institutional investors. As the company develops and executes its strategies, stakeholders will watch closely to see how it performs in the upcoming quarters.

Welch, Forbes, Fiserv