Renasant Bank Buys 716 Shares of Fiserv, Inc. (NYSE:FI)

Renasant Bank increased its position in Fiserv, Inc. (NYSE:FI) by 18.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,664 shares of the business services provider’s stock after purchasing an additional 716 shares during the quarter. Renasant Bank’s holdings in Fiserv were worth $958,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Valley National Advisers Inc. bought a new position in shares of Fiserv during the 4th quarter worth $29,000. Marshall Investment Management LLC purchased a new stake in Fiserv in the fourth quarter worth about $29,000. Compass Financial Services Inc purchased a new stake in Fiserv in the fourth quarter worth about $31,000. Knuff & Co LLC bought a new position in Fiserv during the 4th quarter worth about $45,000. Finally, Friedenthal Financial purchased a new position in Fiserv during the 4th quarter valued at about $49,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the completion of the sale, the chief operating officer now directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.75% of the company’s stock.

Fiserv Stock Down 1.0 %

Fiserv stock opened at $209.23 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The stock has a market capitalization of $117.44 billion, a PE ratio of 38.82, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The business has a 50 day simple moving average of $218.83 and a 200-day simple moving average of $204.09. Fiserv, Inc. has a 12 month low of $145.98 and a 12 month high of $238.59.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, topping 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%. On average, analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its Board of Directors has approved a stock buyback program on Thursday, February 20th that permits the company to buyback 60,000,000 shares. This buyback authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FI. The Goldman Sachs Group upped their price target on shares of Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada increased their target price on Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Compass Point began coverage on Fiserv in a report on Wednesday, November 20th. They issued a “buy” rating and a $278.00 price target on the stock. StockNews.com cut Fiserv from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Wells Fargo & Company lifted their target price on Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $239.83.

Fiserv Profile

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.