Parallel Advisors LLC Purchases 310 Shares of Fiserv, Inc. (NYSE:FI)

Parallel Advisors LLC grew its position in shares of Fiserv, Inc. (NYSE:FI) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,129 shares of the business services provider’s stock after acquiring an additional 310 shares during the quarter. Parallel Advisors LLC’s holdings in Fiserv were worth $1,259,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of FI. Valley National Advisers Inc. bought a new stake in Fiserv during the fourth quarter worth $29,000. Marshall Investment Management LLC bought a new stake in Fiserv during the fourth quarter worth $29,000. Compass Financial Services Inc bought a new stake in Fiserv during the fourth quarter worth $31,000. Campbell Capital Management Inc. bought a new stake in Fiserv during the fourth quarter worth $37,000. Finally, Knuff & Co LLC bought a new stake in Fiserv during the fourth quarter worth $45,000. Institutional investors own 90.98% of the company’s stock.

Fiserv Price Performance

Shares of NYSE FI opened at $216.77 on Wednesday. The firm has a market capitalization of $121.67 billion, a P/E ratio of 40.22, a P/E/G ratio of 1.52 and a beta of 0.93. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. The stock’s 50-day simple moving average is $219.47 and its two-hundred day simple moving average is $205.48. Fiserv, Inc. has a twelve month low of $145.98 and a twelve month high of $238.59.

Fiserv (NYSE:FI) last announced its earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share 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%. As a group, equities analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Oppenheimer upped their price target on Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Stephens upped their price target on Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Morgan Stanley boosted their price objective on Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Susquehanna boosted their price objective on Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, February 10th. Finally, Royal Bank of Canada boosted their price objective on Fiserv from $255.00 to $270.00 and gave the stock 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $239.83.

Insider Activity

In other news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction dated 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 transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.