Fiserv, Inc. (NYSE:FI) Stock Position Lifted by iA Global Asset Management Inc.

iA Global Asset Management Inc. grew its position in shares of Fiserv, Inc. (NYSE:FI) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 70,917 shares of the business services provider’s stock after buying an additional 4,209 shares during the period. iA Global Asset Management Inc.’s holdings in Fiserv were worth $14,568,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Settian Capital LP acquired a new stake in shares of Fiserv during the 4th quarter worth approximately $1,438,000. Teacher Retirement System of Texas raised its position in shares of Fiserv by 17.8% during the 4th quarter. Teacher Retirement System of Texas now owns 182,010 shares of the business services provider’s stock worth $37,388,000 after purchasing an additional 27,478 shares during the period. Vinva Investment Management Ltd raised its position in shares of Fiserv by 15.6% during the 4th quarter. Vinva Investment Management Ltd now owns 28,777 shares of the business services provider’s stock worth $5,936,000 after purchasing an additional 3,881 shares during the period. Generali Asset Management SPA SGR acquired a new stake in shares of Fiserv during the 4th quarter worth approximately $9,440,000. Finally, Evoke Wealth LLC raised its position in shares of Fiserv by 7.5% during the 4th quarter. Evoke Wealth LLC now owns 9,362 shares of the business services provider’s stock worth $1,923,000 after purchasing an additional 654 shares during the period. Institutional investors own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Stephens increased their price target on Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Citigroup increased their price target on Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. 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. Wells Fargo & Company raised their target price on Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, Barclays raised their target price on Fiserv from $235.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Fiserv has an average rating of “Moderate Buy” and a consensus target price of $239.83.

Fiserv Stock Performance

FI opened at $220.87 on Thursday. The firm has a market cap of $123.97 billion, a PE ratio of 40.98, 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 business has a fifty day simple moving average of $219.78 and a 200-day simple moving average of $205.59. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $238.59.

Fiserv (NYSE:FI) last released its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, topping 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, equities analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

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

Insider Transactions at Fiserv

In other 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is available 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.