In recent news, Whittier Trust Co. has decreased its position in Fiserv, Inc. by 30.5% during the fourth quarter, according to a disclosure with the Securities and Exchange Commission (SEC). The trust fund reportedly sold 2,659 shares of Fiserv’s stock during this period, resulting in ownership of only 6,049 shares worth $611,000 as of their most recent SEC filing on April 7, 2023.
Furthermore, insiders have been making moves within the company. CRO Christopher M. Foskett sold 9,000 shares of FISV stock at an average price of $111.00 for a total value of $999,000 on March 24th, bringing his personal Fiserv share ownership to 97,665 shares worth approximately $10.8 million as per the same SEC filing that reported Whittier Trust Co.’s updated holdings.
On January 23rd, COO Guy Chiarello also sold some of his Fiserv shares worth approximately $111,646.89 at an average price of $105.03 per share. Following this transaction, Chiarello still retained over 201,623 shares of Fiserv’s stock valued at around $21 million.
Overall in the past three months before April 7th’s SEC disclosure report came out for the financial year quarter-end review period December-February just ending; insiders themselves have sold off up to roughly thirty thousand FISV stocks approximately equivalent to about $3.18 million dollars! In terms of percentage held by corporate insiders versus external/shareholders persons not affiliated with it being only one percent-all together adds some level of perplexity and intrigue for reasons unknown.
FISV stock was trading at a price point starting from $113.01 per share on Friday afternoon with a fifty-day moving average low/mean value hovering around slightly above $112.75 per share and a two hundred-day moving average high/mean value limit of around $104.47 per share, making it quite an attractive option for investors looking at long-term investment options. The firm has a market capitalization worth about $70.98 billion with a P/E ratio of 28.83 and a PEG ratio of 1.27, while its beta currently stands at 0.85.
In conclusion, these financial updates show that Whittier Trust Co., insiders like Christopher M Foskett and Guy Chiarello are making moves in the world of Fiserv’s stock shares worth millions, leading to perplexity surrounding these changes. With FISV stock being an attractive option for those looking at long-term investments due to its consistent growth over time as demonstrated through this report’s pricing history analysis so far!
Fiserv Catches the Eye of Institutional Investors and Analysts Alike
Fiserv, a global provider of technology solutions for financial services, has been receiving significant attention from institutional investors in recent years. Several companies and investment firms have increased their holdings in the company, including AMI Investment Management Inc., American Century Companies Inc., Healthcare of Ontario Pension Plan Trust Fund, Prudential PLC, and Sequoia Financial Advisors LLC. Collectively, these institutions own 88.79% of Fiserv’s stock.
Research reports on Fiserv have also been released by various companies and analysts. Barclays raised its price objective on Fiserv shares from $125 to $140 and gave the company an “overweight” rating. On the other hand, The Goldman Sachs Group lowered its target price on shares of Fiserv from $123 to $105 and set a “neutral” rating on the stock in its report.
Fiserv reported its quarterly earnings results on Tuesday, February 7th. The business services provider’s net margin was 14.26% and it had a return on equity of 13.32%. The company announced that its board had approved a share repurchase plan that permits it to buy back 75 million shares through open market purchases.
Many experts predict that Fiserv will continue to grow its revenue and increase its earnings per share in the coming years. All eyes will be on this innovative financial technology company as it continues to make strides in the industry while consistently rewarding shareholders with stock buyback plans.