Fiserv COO Chiarello sells stock worth over $3.5 million
© Reuters.
Fiserv Inc (NYSE:). (NASDAQ:FISV) Chief Operating Officer Guy Chiarello has recently engaged in significant trading of company stock, according to a new SEC filing. On March 15, Chiarello sold a total of 24,000 shares of common stock at an average price of $46.97, totaling approximately $1.13 million. Additionally, he sold another 23,000 shares at prices ranging from $148.33 to $149.78, bringing in over $3.58 million.
The transactions were carried out under a prearranged 10b5-1 trading plan, which allows insiders to set up a trading schedule in advance to avoid accusations of insider trading. The plan was established by Chiarello back on December 15, 2023, for estate and financial planning purposes.
Following the sales, Chiarello still holds a substantial number of shares directly and indirectly. His direct holdings amount to 163,699 shares after the transactions, while he also has an indirect stake through The Denise Chiarello 2021 Trust, which benefits himself and his children, holding 37,381 shares.
The sale of shares by a high-level executive like the COO of Fiserv is a noteworthy event for investors and market watchers, as it may reflect the executive’s view on the company’s current valuation or future prospects. However, it’s important to note that such sales could be motivated by a variety of personal financial planning reasons and not necessarily indicative of the company’s performance.
Investors and analysts often look to insider buying and selling as one of many indicators to gauge the health of a company and its stock’s potential. Fiserv, a global provider of financial services technology, continues to be a significant player in the business services sector, and its executive movements are closely monitored in the financial community.
InvestingPro Insights
In light of the recent stock transactions by Fiserv Inc.’s COO, Guy Chiarello, investors might seek additional context through InvestingPro’s real-time data and insights. As of the last twelve months ending in Q4 2023, Fiserv boasts a market capitalization of $89.84 billion with a P/E ratio of 30.3, reflecting investors’ valuation of the company relative to its earnings. The company’s revenue has grown by 7.65% during this period, indicating a solid financial performance.
One crucial InvestingPro Tip to consider is that management has been actively repurchasing shares, which could be a sign of confidence in the company’s value and future prospects. Additionally, the stock is currently trading near its 52-week high, with a price that is 98.32% of this peak, suggesting a strong market sentiment towards Fiserv.
While some analysts have revised their earnings expectations downwards for the upcoming period, it’s important to note that Fiserv has been profitable over the last twelve months, and analysts predict profitability for this year as well. This aligns with the company’s substantial gross profit margin of 59.83% and an operating income margin of 25.39%, which are indicative of its operational efficiency.
For investors interested in further insights, there are additional InvestingPro Tips available at https://www.investing.com/pro/FISV. To enhance your investment research with these valuable tips, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With 7 more tips listed in InvestingPro, you can gain a deeper understanding of Fiserv’s financial health and market position.
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