Fiserv, Inc. (NYSE:FI) Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its position in Fiserv, Inc. (NYSE:FI) by 29.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,092,538 shares of the business services provider’s stock after buying an additional 471,676 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.37% of Fiserv worth $429,849,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FI. Norges Bank purchased a new position in shares of Fiserv in the 4th quarter worth about $1,406,452,000. Raymond James Financial Inc. purchased a new position in Fiserv in the fourth quarter valued at approximately $614,982,000. Madison Investment Advisors LLC purchased a new stake in Fiserv during the fourth quarter worth approximately $134,710,000. Kovitz Investment Group Partners LLC increased its position in shares of Fiserv by 788.7% in the third quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock worth $109,700,000 after acquiring an additional 561,377 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its position in shares of Fiserv by 30,479.9% in the fourth quarter. Proficio Capital Partners LLC now owns 484,997 shares of the business services provider’s stock worth $99,628,000 after acquiring an additional 483,411 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Price Performance

FI opened at $216.15 on Friday. 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 company’s 50-day moving average price is $222.00 and its 200 day moving average price is $207.91. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $238.59. The firm has a market cap of $121.32 billion, a price-to-earnings ratio of 40.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

Fiserv (NYSE:FI) last announced its quarterly 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, sell-side analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv announced that its Board of Directors has authorized 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 buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were 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 approximately $53,637,326.05. This trade represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.75% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

FI has been the subject of several recent research reports. KeyCorp increased their price target on Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Barclays raised their target price on Fiserv from $235.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, February 10th. 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. Susquehanna lifted their price objective on shares of Fiserv from $230.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, February 10th. Finally, Stephens raised their price target on shares of Fiserv from $255.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Two 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. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $242.32.

Fiserv Company 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.