Chung Wu Investment Group LLC Purchases New Stake in Fiserv, Inc. (NYSE:FI)

Chung Wu Investment Group LLC purchased a new stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,250 shares of the business services provider's stock, valued at approximately $668,000.

A number of other institutional investors have also recently modified their holdings of the business. Vestmark Advisory Solutions Inc. purchased a new stake in Fiserv during the 4th quarter worth approximately $281,000. Washington Trust Advisors Inc. boosted its position in shares of Fiserv by 283.9% during the 4th quarter. Washington Trust Advisors Inc. now owns 952 shares of the business services provider's stock valued at $196,000 after acquiring an additional 704 shares during the last quarter. Inceptionr LLC acquired a new position in Fiserv in the fourth quarter valued at approximately $723,000. Raymond James Financial Inc. acquired a new position in shares of Fiserv in the 4th quarter valued at $614,982,000. Finally, Cullen Frost Bankers Inc. lifted its position in Fiserv by 655.4% in the fourth quarter. Cullen Frost Bankers Inc. now owns 19,475 shares of the business services provider's stock valued at $4,001,000 after buying an additional 16,897 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FI shares. BMO Capital Markets upped their price target on Fiserv from $233.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. The Goldman Sachs Group raised their price objective on shares of Fiserv from $208.00 to $231.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. Royal Bank of Canada raised their target price on Fiserv from $255.00 to $270.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods raised their price objective on Fiserv from $238.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Finally, Morgan Stanley increased their price target on shares of Fiserv from $258.00 to $267.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Fiserv presently has a consensus rating of "Moderate Buy" and a consensus target price of $239.83.

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Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the 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 transaction, the chief operating officer now directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.75% of the company's stock.

Fiserv Price Performance

Shares of NYSE:FI traded down $1.91 during midday trading on Friday, hitting $218.04. 4,456,911 shares of the stock were exchanged, compared to its average volume of 2,995,866. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The company has a 50 day moving average price of $218.31 and a 200-day moving average price of $203.37. Fiserv, Inc. has a twelve month low of $145.98 and a twelve month high of $238.59. The stock has a market cap of $122.38 billion, a P/E ratio of 40.45, a PEG ratio of 1.52 and a beta of 0.93.

Fiserv (NYSE:FI - Get Free Report) last released 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 return on equity of 17.93% and a net margin of 15.31%. On average, research analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current year.

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

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.