Boston Financial Mangement LLC Increases Holdings in Fiserv, Inc. (NYSE:FI)

Boston Financial Mangement LLC raised its stake in shares of Fiserv, Inc. (NYSE:FI) by 17.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,324 shares of the business services provider’s stock after buying an additional 642 shares during the period. Boston Financial Mangement LLC’s holdings in Fiserv were worth $888,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in FI. Foundations Investment Advisors LLC raised its stake in Fiserv by 3.7% during the 3rd quarter. Foundations Investment Advisors LLC now owns 4,660 shares of the business services provider’s stock valued at $837,000 after buying an additional 165 shares during the last quarter. Eastern Bank purchased a new stake in Fiserv during the 3rd quarter valued at $50,000. Commerzbank Aktiengesellschaft FI raised its stake in Fiserv by 41.4% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 3,221 shares of the business services provider’s stock valued at $579,000 after buying an additional 943 shares during the last quarter. Courier Capital LLC purchased a new stake in Fiserv during the 3rd quarter valued at $238,000. Finally, YHB Investment Advisors Inc. bought a new stake in shares of Fiserv during the 3rd quarter valued at $202,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Fiserv Stock Down 0.7 %

FI opened at $234.63 on Friday. The firm has a 50-day simple moving average of $213.26 and a two-hundred day simple moving average of $197.74. Fiserv, Inc. has a 52 week low of $145.98 and a 52 week high of $238.00. The company has a market capitalization of $133.48 billion, a PE ratio of 43.53, a price-to-earnings-growth ratio of 1.53 and a beta of 0.94. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86.

Fiserv (NYSE:FI) last released its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, beating the consensus estimate of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. Analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 20th that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FI. Wells Fargo & Company boosted their price objective on shares of Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. BMO Capital Markets boosted their price objective on shares of Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Seaport Res Ptn raised shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Royal Bank of Canada boosted their price objective on shares of Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, The Goldman Sachs Group boosted their price objective on shares of Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Two research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $239.83.

Insider Buying and Selling at Fiserv

In other news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the sale, the chief operating officer now directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.75% of the company’s stock.

About Fiserv

Fiserv, Inc, together with its subsidiaries, provides payments and financial services technology services in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally. It operates through Merchant Acceptance, Financial Technology, and Payments and Network segments.