Investment Counsel Co. of Nevada Purchases New Holdings in Fiserv, Inc. (NYSE:FI)

Investment Counsel Co. of Nevada acquired a new position in shares of Fiserv, Inc. (NYSE:FI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,000 shares of the business services provider's stock, valued at approximately $411,000. Fiserv makes up approximately 1.0% of Investment Counsel Co. of Nevada's portfolio, making the stock its 16th biggest holding.

A number of other hedge funds have also modified their holdings of the stock. Czech National Bank increased its holdings in shares of Fiserv by 5.2% in the 4th quarter. Czech National Bank now owns 123,353 shares of the business services provider's stock valued at $25,339,000 after purchasing an additional 6,072 shares during the period. Trust Co. of Vermont grew its holdings in shares of Fiserv by 170.4% during the 4th quarter. Trust Co. of Vermont now owns 6,839 shares of the business services provider's stock valued at $1,405,000 after acquiring an additional 4,310 shares in the last quarter. Cardano Risk Management B.V. acquired a new position in shares of Fiserv in the fourth quarter worth $97,254,000. Root Financial Partners LLC purchased a new stake in shares of Fiserv during the fourth quarter worth $257,000. Finally, World Investment Advisors LLC boosted its position in Fiserv by 1,469.7% during the third quarter. World Investment Advisors LLC now owns 55,802 shares of the business services provider's stock valued at $10,025,000 after purchasing an additional 52,247 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Stock Performance

Shares of NYSE:FI traded down $1.60 during trading on Friday, hitting $208.51. 3,571,247 shares of the stock were exchanged, compared to its average volume of 2,717,959. The company has a market capitalization of $116.47 billion, a price-to-earnings ratio of 38.68, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91. 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, Inc. has a 1-year low of $145.98 and a 1-year high of $238.59. The company's fifty day simple moving average is $219.31 and its 200-day simple moving average is $211.30.

Fiserv (NYSE:FI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, topping 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%. Sell-side analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its board has authorized a share buyback plan on Thursday, February 20th that allows the company to buyback 60,000,000 shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Insider Activity at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the company's stock in a transaction dated 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 approximately $53,637,326.05. This represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.75% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FI. Monness Crespi & Hardt downgraded Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 price target for the company. in a research note on Wednesday, April 9th. Barclays lifted their target price on shares of Fiserv from $235.00 to $265.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. BMO Capital Markets boosted their target price on shares of Fiserv from $233.00 to $260.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. StockNews.com assumed coverage on shares of Fiserv in a research note on Sunday, March 23rd. They issued a "buy" rating for the company. Finally, Royal Bank of Canada increased their target price on shares of Fiserv from $255.00 to $270.00 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 sell rating, one has issued a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $234.79.

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.