Kestra Investment Management LLC Acquires New Position in Fiserv, Inc. (NYSE:FI)

Kestra Investment Management LLC acquired a new stake in Fiserv, Inc. (NYSE:FI) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 242 shares of the business services provider’s stock, valued at approximately $50,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sanders Capital LLC acquired a new position in Fiserv in the third quarter valued at approximately $764,543,000. FMR LLC boosted its stake in Fiserv by 17.8% in the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after acquiring an additional 1,427,664 shares during the period. Kovitz Investment Group Partners LLC boosted its stake in Fiserv by 788.7% in the third quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock valued at $109,700,000 after acquiring an additional 561,377 shares during the period. Mizuho Securities USA LLC boosted its stake in Fiserv by 1,238.6% in the third quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock valued at $108,488,000 after acquiring an additional 558,774 shares during the period. Finally, Cardano Risk Management B.V. acquired a new position in Fiserv in the fourth quarter valued at approximately $97,254,000. 90.98% of the stock is owned by institutional investors.

Fiserv Price Performance

NYSE FI opened at $232.47 on Friday. The stock has a market capitalization of $132.26 billion, a P/E ratio of 43.13, a P/E/G ratio of 1.53 and a beta of 0.94. Fiserv, Inc. has a 1 year low of $145.98 and a 1 year high of $237.99. The business’s fifty day moving average is $213.81 and its two-hundred day moving average is $198.28. 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 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%. On average, research analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its board has approved a stock repurchase plan on Thursday, February 20th that authorizes the company to buyback 60,000,000 outstanding shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the business’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 sale, the chief operating officer now directly owns 227,711 shares of the company’s stock, valued at $53,637,326.05. The trade was a 16.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on FI. Compass Point assumed coverage on Fiserv in a research note on Wednesday, November 20th. They issued a “buy” rating and a $278.00 target price for the company. Royal Bank of Canada boosted their price objective on Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Tigress Financial boosted their price objective on Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. The Goldman Sachs Group boosted their price objective on Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, BMO Capital Markets boosted their price objective on Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $239.83.

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.