Ken Fisher (Trades, Portfolio), CEO and CIO of Fisher Investments, trimmed his stake in Heartland Payment Systems Inc. (HPY, Financial), a Princeton, New Jersey-based electronic payment processing company, by nearly 29% in the fourth quarter.
Heartland processes payments for more than 275,000 businesses in the U.S. In 2014 the company was ranked the country’s sixth-largest payment processor by transactions and eighth-largest by dollar volume.
The company has a 52-week low of $46.65 per share and a 52-week high of $96.47 per share.
Fisher sold 497,624 shares for an average price of $77.43 per share. The transaction had a -0.07% impact on Fisher’s portfolio.
Fisher’s remaining stake of 1,226,974 shares is 3.34% of Heartland’s outstanding shares and 0.23% of his total assets.
Recently Heartland has been emphasizing protecting small businesses from cyberattacks because, while two-thirds of smaller businesses rely on the Internet to conduct their work and many have vital customer information that needs protection, most small businesses have substantial security needs that are not adequately met.
Heartland has a P/E of 81.3, a forward P/E of 27.8, a P/B of 10.5 and a P/S of 1.3. GuruFocus gives Heartland a Financial Strength rating of 8/10 and a Profitability and Growth rating of 6/10.
Fisher is Heartland’s leading shareholder among the gurus. RS Investment Management (Trades, Portfolio), with 2.48% of Heartland’s outstanding shares, and Steven Cohen (Trades, Portfolio), with 0.06%, also have Heartland in their portfolios.
Heartland sold for $90.23 per share Wednesday.
To view the real time picks of more gurus, visit the Real Time Picks page. Not a premium member of GuruFocus? Try it free for 7 days.
