140,669 Shares in Fiserv, Inc. (NYSE:FI) Bought by Fisher Funds Management LTD

Fisher Funds Management LTD bought a new position in shares of Fiserv, Inc. (NYSE:FI) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 140,669 shares of the business services provider’s stock, valued at approximately $28,894,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Catalina Capital Group LLC boosted its stake in Fiserv by 2.3% during the fourth quarter. Catalina Capital Group LLC now owns 2,160 shares of the business services provider’s stock worth $444,000 after acquiring an additional 48 shares in the last quarter. Mount Yale Investment Advisors LLC lifted its stake in shares of Fiserv by 1.2% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 4,126 shares of the business services provider’s stock valued at $848,000 after buying an additional 50 shares in the last quarter. Hemington Wealth Management lifted its stake in shares of Fiserv by 6.1% in the fourth quarter. Hemington Wealth Management now owns 864 shares of the business services provider’s stock valued at $177,000 after buying an additional 50 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its stake in shares of Fiserv by 3.0% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 1,752 shares of the business services provider’s stock valued at $360,000 after buying an additional 51 shares in the last quarter. Finally, Optas LLC lifted its stake in shares of Fiserv by 1.7% in the third quarter. Optas LLC now owns 3,216 shares of the business services provider’s stock valued at $578,000 after buying an additional 54 shares in the last quarter. 90.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FI has been the topic of a number of recent research reports. Seaport Res Ptn raised shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Citigroup raised their price objective on shares of Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Tigress Financial increased their target price on shares of Fiserv from $190.00 to $244.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Wells Fargo & Company increased their target price on shares of Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, KeyCorp increased their target price on shares of Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $239.83.

Insider Activity

In related news, COO Guy Chiarello sold 45,000 shares of the business’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 transaction of $10,599,750.00. Following the completion of the transaction, the chief operating officer now owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.75% of the company’s stock.

Fiserv Stock Performance

NYSE FI opened at $232.47 on Friday. The company’s 50 day moving average is $213.81 and its 200-day moving average is $198.56. Fiserv, Inc. has a 12-month low of $145.98 and a 12-month high of $237.99. 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 firm has a market cap of $132.26 billion, a P/E ratio of 43.13, a price-to-earnings-growth ratio of 1.52 and a beta of 0.94.

Fiserv (NYSE:FI) last posted 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 net margin of 15.31% and a return on equity of 17.93%. Sell-side analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current 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 shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are 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.