Fiserv, Inc. (NYSE:FI) Shares Purchased by Fmr LLC

Fmr LLC raised its stake in Fiserv, Inc. (NYSE:FI) by 22.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,568,895 shares of the business services provider’s stock after purchasing an additional 2,126,419 shares during the quarter. Fmr LLC owned about 2.03% of Fiserv worth $2,376,482,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in FI. Norges Bank acquired a new stake in Fiserv during the fourth quarter worth about $1,406,452,000. Raymond James Financial Inc. acquired a new stake in Fiserv during the 4th quarter worth approximately $614,982,000. Alliancebernstein L.P. raised its holdings in Fiserv by 65.6% in the fourth quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock valued at $1,116,919,000 after buying an additional 2,153,554 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Fiserv by 16.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,030,889 shares of the business services provider’s stock valued at $1,649,705,000 after buying an additional 1,121,597 shares during the period. Finally, Madison Investment Advisors LLC purchased a new stake in Fiserv during the fourth quarter worth approximately $134,710,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Susquehanna increased their price target on Fiserv from $230.00 to $270.00 and gave the company a “positive” rating in a report on Monday, February 10th. Seaport Res Ptn upgraded Fiserv from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. 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. Oppenheimer lifted their price objective on shares of Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company upped their target price on shares of Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $243.64.

Insider Buying and Selling

In related news, COO Guy Chiarello sold 45,000 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now directly owns 227,711 shares of the company’s stock, valued at $53,637,326.05. This trade represents a 16.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.75% of the stock is currently owned by corporate insiders.

Fiserv Stock Performance

Shares of NYSE FI opened at $198.77 on Friday. The stock has a market capitalization of $111.57 billion, a PE ratio of 36.88, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91. Fiserv, Inc. has a 52 week low of $145.98 and a 52 week high of $238.59. The stock has a 50 day moving average price of $222.85 and a 200 day moving average price of $209.42. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06.

Fiserv (NYSE:FI) last announced its 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%. Analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its board has approved a stock repurchase program on Thursday, February 20th that allows the company to buyback 60,000,000 shares. This buyback authorization allows the business services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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.