Geode Capital Management LLC Buys 218,833 Shares of Fiserv, Inc. (NYSE:FI)

Geode Capital Management LLC lifted its stake in shares of Fiserv, Inc. (NYSE:FI) by 1.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 11,891,207 shares of the business services provider’s stock after buying an additional 218,833 shares during the quarter. Geode Capital Management LLC owned about 2.09% of Fiserv worth $2,435,280,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Valley National Advisers Inc. acquired a new stake in Fiserv during the fourth quarter worth approximately $29,000. Marshall Investment Management LLC acquired a new stake in Fiserv during the 4th quarter worth approximately $29,000. Compass Financial Services Inc bought a new stake in Fiserv in the 4th quarter valued at $31,000. Campbell Capital Management Inc. bought a new position in Fiserv during the 4th quarter worth $37,000. Finally, Knuff & Co LLC acquired a new stake in shares of Fiserv during the fourth quarter worth $45,000. Institutional investors own 90.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on FI. Barclays raised their price target on shares of Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Morgan Stanley raised their target price on shares of Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Seaport Res Ptn upgraded Fiserv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Wells Fargo & Company raised their price objective on Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Keefe, Bruyette & Woods upped their target price on Fiserv from $238.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Two 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 stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $242.32.

Insider Transactions at Fiserv

In other news, COO Guy Chiarello sold 45,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $53,637,326.05. This trade represents 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 available through the SEC website. 0.75% of the stock is owned by company insiders.

Fiserv Trading Up 2.3 %

Shares of FI stock opened at $221.19 on Tuesday. Fiserv, Inc. has a twelve month low of $145.98 and a twelve month high of $238.59. The stock’s fifty day simple moving average is $222.25 and its 200 day simple moving average is $208.51. 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 capitalization of $124.15 billion, a P/E ratio of 41.04, a P/E/G ratio of 1.52 and a beta of 0.93.

Fiserv (NYSE:FI) last released its quarterly earnings results 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, sell-side analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its board has initiated a stock repurchase program 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. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

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.