E Fund Management Co. Ltd. Acquires Shares of 1,408 Fiserv, Inc. (NYSE:FI)

E Fund Management Co. Ltd. purchased a new stake in Fiserv, Inc. (NYSE:FI - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 1,408 shares of the business services provider's stock, valued at approximately $289,000.

Several other institutional investors also recently bought and sold shares of the company. Valley National Advisers Inc. acquired a new stake in Fiserv in the 4th quarter valued at about $29,000. Marshall Investment Management LLC acquired a new stake in shares of Fiserv in the fourth quarter valued at approximately $29,000. Compass Financial Services Inc acquired a new stake in shares of Fiserv in the fourth quarter valued at approximately $31,000. Kennebec Savings Bank purchased a new position in Fiserv during the third quarter worth approximately $40,000. Finally, Friedenthal Financial acquired a new position in Fiserv during the fourth quarter worth $49,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Stock Down 0.9 %

Fiserv stock traded down $1.91 during mid-day trading on Friday, hitting $218.04. The company had a trading volume of 4,456,911 shares, compared to its average volume of 2,995,866. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. Fiserv, Inc. has a 1 year low of $145.98 and a 1 year high of $238.59. The business has a fifty day moving average of $218.31 and a 200 day moving average of $203.12. The stock has a market cap of $122.38 billion, a price-to-earnings ratio of 40.45, a PEG ratio of 1.52 and a beta of 0.93.

Fiserv (NYSE:FI - Get Free Report) last posted its earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, beating analysts' consensus estimates of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. On average, sell-side analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Remove Ads

Fiserv declared that its Board of Directors has initiated a stock buyback program on Thursday, February 20th that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have issued reports on FI. Citigroup raised their target price on Fiserv from $230.00 to $233.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Morgan Stanley upped their price objective on shares of Fiserv from $258.00 to $267.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Stephens upped their price target on Fiserv from $255.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Seaport Res Ptn raised Fiserv from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. Finally, Oppenheimer increased their target price on Fiserv from $214.00 to $239.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. Three research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Fiserv has a consensus rating of "Moderate Buy" and an average price target of $239.83.

Insider Activity

In other news, COO Guy Chiarello sold 45,000 shares of the firm'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 transaction, the chief operating officer now directly owns 227,711 shares in the company, valued at approximately $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 SEC, which is accessible through this link. Company insiders own 0.75% of the company's stock.

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.