Cullinan Associates Inc. Lowers Holdings in Fiserv, Inc. (NASDAQ:FISV)

Cullinan Associates Inc. reduced its stake in shares of Fiserv, Inc. (NASDAQ:FISV – Get Rating) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,249 shares of the business services provider’s stock after selling 5,200 shares during the quarter. Cullinan Associates Inc.’s holdings in Fiserv were worth $6,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Secure Asset Management LLC bought a new stake in Fiserv in the 3rd quarter valued at $202,000. Hartford Investment Management Co. lifted its position in shares of Fiserv by 10.0% in the third quarter. Hartford Investment Management Co. now owns 64,479 shares of the business services provider’s stock worth $6,033,000 after buying an additional 5,847 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Fiserv by 12.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 101,126 shares of the business services provider’s stock valued at $9,462,000 after buying an additional 11,385 shares during the last quarter. Fifth Third Bancorp grew its holdings in Fiserv by 43.3% during the 3rd quarter. Fifth Third Bancorp now owns 156,728 shares of the business services provider’s stock valued at $14,665,000 after buying an additional 47,365 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in Fiserv by 10.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,839 shares of the business services provider’s stock worth $173,000 after acquiring an additional 170 shares during the last quarter. Institutional investors own 88.79% of the company’s stock.

Fiserv Stock Performance

Shares of NASDAQ:FISV opened at $108.17 on Friday. The firm’s 50 day simple moving average is $110.27 and its 200-day simple moving average is $103.73. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.04 and a current ratio of 1.04. Fiserv, Inc. has a one year low of $87.03 and a one year high of $119.48. The firm has a market cap of $67.94 billion, a PE ratio of 27.59, a price-to-earnings-growth ratio of 1.23 and a beta of 0.86.

Fiserv (NASDAQ:FISV – Get Rating) last released its quarterly earnings data on Tuesday, February 7th. The business services provider reported $1.91 EPS for the quarter, hitting the consensus estimate of $1.91. Fiserv had a return on equity of 13.32% and a net margin of 14.26%. The company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.35 billion. During the same period last year, the business posted $1.57 EPS. Fiserv’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, equities analysts predict that Fiserv, Inc. will post 7.32 EPS for the current year.

Fiserv announced that its board has authorized a share repurchase plan on Thursday, February 23rd that permits the company to repurchase 75,000,000 outstanding shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Fiserv news, Director Holdings L.P. Valueact sold 1,060,030 shares of the stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $102.23, for a total transaction of $108,366,866.90. Following the transaction, the director now directly owns 13,587,746 shares in the company, valued at approximately $1,389,075,273.58. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Fiserv news, Director Holdings L.P. Valueact sold 1,060,030 shares of the company’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $102.23, for a total transaction of $108,366,866.90. Following the completion of the sale, the director now owns 13,587,746 shares in the company, valued at $1,389,075,273.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Guy Chiarello sold 1,063 shares of Fiserv stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $105.03, for a total value of $111,646.89. Following the completion of the transaction, the chief operating officer now owns 201,623 shares in the company, valued at $21,176,463.69. The disclosure for this sale can be found here. Insiders sold a total of 1,755,044 shares of company stock valued at $179,073,098 over the last three months. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Fiserv from $121.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, February 8th. StockNews.com assumed coverage on shares of Fiserv in a report on Thursday. They issued a “hold” rating on the stock. Morgan Stanley increased their price target on shares of Fiserv from $107.00 to $117.00 and gave the company an “equal weight” rating in a report on Wednesday, February 8th. Royal Bank of Canada boosted their price objective on Fiserv from $123.00 to $131.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 8th. Finally, The Goldman Sachs Group lowered their price objective on Fiserv from $123.00 to $105.00 and set a “neutral” rating for the company in a research note on Monday, January 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $127.14.

Fiserv Profile

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Fiserv, Inc engages in the provision of financial services technology. It operates through the following segments: Merchant Acceptance, Financial Technology, and Payments and Network. The Merchant Acceptance segment provides commerce enabling solutions and serves merchants of all sizes around the world.