Okabena Investment Services Inc. Makes New Investment in Fiserv, Inc. (NYSE:FI)

Okabena Investment Services Inc. purchased a new position in Fiserv, Inc. (NYSE:FI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,000 shares of the business services provider's stock, valued at approximately $411,000.

A number of other institutional investors have also recently made changes to their positions in FI. Valley National Advisers Inc. purchased a new position in shares of Fiserv during the 4th quarter valued at about $29,000. Marshall Investment Management LLC purchased a new position in shares of Fiserv during the fourth quarter worth approximately $29,000. Compass Financial Services Inc bought a new stake in shares of Fiserv in the 4th quarter worth approximately $31,000. Campbell Capital Management Inc. purchased a new stake in shares of Fiserv in the 4th quarter valued at $37,000. Finally, Knuff & Co LLC bought a new position in shares of Fiserv during the 4th quarter valued at $45,000. Institutional investors own 90.98% of the company's stock.

Insider Buying and Selling at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $235.55, for a total value of $10,599,750.00. Following the sale, the chief operating officer now owns 227,711 shares in the company, valued at $53,637,326.05. This represents a 16.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.75% of the company's stock.

Remove Ads

Fiserv Stock Up 1.2 %

FI stock traded up $2.71 during midday trading on Wednesday, hitting $224.72. The stock had a trading volume of 1,976,290 shares, compared to its average volume of 3,012,140. The business has a 50-day moving average of $222.51 and a two-hundred day moving average of $208.84. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The firm has a market cap of $126.13 billion, a price-to-earnings ratio of 41.69, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a 52-week low of $145.98 and a 52-week high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last announced 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%. As a group, equities research analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its board has approved a share repurchase program on Thursday, February 20th that authorizes the company to repurchase 60,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Fiserv from $238.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Citigroup increased their target price on Fiserv from $230.00 to $233.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Royal Bank of Canada lifted their price target on Fiserv from $255.00 to $270.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Susquehanna increased their price objective on Fiserv from $230.00 to $270.00 and gave the company a "positive" rating in a research note on Monday, February 10th. Finally, Seaport Res Ptn raised shares of Fiserv from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. One research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Fiserv has an average rating of "Buy" and an average target price of $243.64.

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.