Oppenheimer Asset Management Inc. Buys 962 Shares of Fiserv, Inc. (NYSE:FI)

Oppenheimer Asset Management Inc. grew its stake in shares of Fiserv, Inc. (NYSE:FI) by 1.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,309 shares of the business services provider’s stock after acquiring an additional 962 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Fiserv were worth $12,389,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. FUKOKU MUTUAL LIFE INSURANCE Co purchased a new position in shares of Fiserv in the fourth quarter worth $505,000. Mn Services Vermogensbeheer B.V. increased its holdings in Fiserv by 1.9% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 237,300 shares of the business services provider’s stock worth $48,746,000 after buying an additional 4,400 shares in the last quarter. Convergence Financial LLC raised its position in Fiserv by 1.7% in the 4th quarter. Convergence Financial LLC now owns 8,056 shares of the business services provider’s stock worth $1,655,000 after buying an additional 133 shares during the last quarter. GenTrust LLC bought a new position in Fiserv during the 4th quarter valued at about $224,000. Finally, Simmons Bank boosted its holdings in shares of Fiserv by 111.5% during the 4th quarter. Simmons Bank now owns 2,751 shares of the business services provider’s stock valued at $565,000 after acquiring an additional 1,450 shares during the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Trading Up 0.9 %

Shares of FI opened at $231.85 on Friday. The firm has a market cap of $130.13 billion, a P/E ratio of 43.01, a price-to-earnings-growth ratio of 1.52 and a beta of 0.94. The company has a 50 day simple moving average of $216.09 and a two-hundred day simple moving average of $200.29. Fiserv, Inc. has a 1 year low of $145.98 and a 1 year high of $237.99. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07.

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

Fiserv declared that its Board of Directors has approved a share buyback program on Thursday, February 20th that authorizes the company to buyback 60,000,000 outstanding shares. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $235.55, for a total value of $10,599,750.00. Following the sale, the chief operating officer now owns 227,711 shares in the company, valued at $53,637,326.05. This trade represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.75% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FI shares. Morgan Stanley boosted their price objective on shares of Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Seaport Res Ptn raised Fiserv from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Keefe, Bruyette & Woods lifted their price objective on Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. KeyCorp increased their target price on Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, BMO Capital Markets boosted their target price 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. Three equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Fiserv currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.83.

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.