Fisher Asset Management LLC Makes New $349,000 Investment in Fiserv, Inc. (NYSE:FI)

Fisher Asset Management LLC purchased a new stake in Fiserv, Inc. (NYSE:FI) during the 4th quarter, Holdings Channel.com reports. The firm purchased 1,701 shares of the business services provider’s stock, valued at approximately $349,000.

A number of other institutional investors also recently modified their holdings of the company. WR Wealth Planners LLC raised its position in Fiserv by 542.6% in the 4th quarter. WR Wealth Planners LLC now owns 4,151 shares of the business services provider’s stock valued at $853,000 after buying an additional 3,505 shares during the last quarter. SVB Wealth LLC acquired a new position in Fiserv during the 4th quarter worth approximately $1,557,000. Argyle Capital Management LLC grew its stake in shares of Fiserv by 3.1% during the 4th quarter. Argyle Capital Management LLC now owns 16,003 shares of the business services provider’s stock worth $3,287,000 after acquiring an additional 480 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Fiserv by 1.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider’s stock valued at $841,000 after purchasing an additional 45 shares during the last quarter. Finally, Fort Sheridan Advisors LLC bought a new stake in shares of Fiserv in the fourth quarter worth $200,000. 90.98% of the stock is currently owned by institutional investors.

Fiserv Stock Performance

Shares of NYSE:FI opened at $218.04 on Friday. The company’s 50 day simple moving average is $218.31 and its 200 day simple moving average is $202.88. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. Fiserv, Inc. has a 1 year low of $145.98 and a 1 year high of $238.59. The stock has a market capitalization of $122.38 billion, a price-to-earnings ratio of 40.45, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

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, beating the consensus estimate 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, research analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its Board of Directors has initiated a share repurchase program on Thursday, February 20th that permits the company to repurchase 60,000,000 shares. This repurchase authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their price target 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. Compass Point assumed coverage on Fiserv in a research report on Wednesday, November 20th. They issued a “buy” rating and a $278.00 target price on the stock. Citigroup increased their price target on Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Royal Bank of Canada raised their target price on shares of Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, BMO Capital Markets upped their price target on shares of Fiserv from $233.00 to $260.00 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 given a strong buy rating to the company. Based on data from MarketBeat, Fiserv has an average rating of “Moderate Buy” and a consensus price target of $239.83.

Insiders Place Their Bets

In other news, COO Guy Chiarello sold 45,000 shares of the company’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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.75% of the company’s stock.

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.