Essential Planning LLC. Invests $238,000 in Fiserv, Inc. (NYSE:FI)

Essential Planning LLC. acquired a new position in Fiserv, Inc. (NYSE:FI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,170 shares of the business services provider’s stock, valued at approximately $238,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. FMR LLC raised its stake in Fiserv by 17.8% in the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after purchasing an additional 1,427,664 shares in the last quarter. Sanders Capital LLC acquired a new stake in Fiserv in the 3rd quarter worth about $764,543,000. Bank of New York Mellon Corp raised its stake in Fiserv by 4.7% in the 4th quarter. Bank of New York Mellon Corp now owns 3,711,072 shares of the business services provider’s stock worth $762,328,000 after purchasing an additional 164,949 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Fiserv by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,620,785 shares of the business services provider’s stock worth $743,782,000 after purchasing an additional 90,475 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Fiserv in the 4th quarter worth about $614,982,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Stock Down 1.0 %

Shares of NYSE FI opened at $209.23 on Friday. The company has a market capitalization of $117.44 billion, a P/E ratio of 38.82, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a 52-week low of $145.98 and a 52-week high of $238.59. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. The company’s 50 day moving average price is $218.83 and its 200-day moving average price is $204.09.

Fiserv (NYSE:FI) last issued its quarterly earnings results 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 net margin of 15.31% and a return on equity of 17.93%. Equities analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv declared that its board has initiated a share buyback plan on Thursday, February 20th that authorizes the company to buyback 60,000,000 outstanding shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction on 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 transaction, the chief operating officer now owns 227,711 shares in the company, valued at $53,637,326.05. The trade was a 16.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.75% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on FI shares. Seaport Res Ptn raised shares of Fiserv from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Keefe, Bruyette & Woods raised their target price on shares of Fiserv from $238.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Citigroup raised their target price on shares of Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Stephens raised their target price on shares of Fiserv from $255.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, BMO Capital Markets raised their target price on shares of Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Fiserv has an average rating of “Moderate Buy” and a consensus target price 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.