Advisors Asset Management Inc. Purchases 3,919 Shares of Fiserv, Inc. (NYSE:FI)

Advisors Asset Management Inc. raised its position in Fiserv, Inc. (NYSE:FI - Free Report) by 6.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,805 shares of the business services provider's stock after buying an additional 3,919 shares during the quarter. Advisors Asset Management Inc.'s holdings in Fiserv were worth $12,901,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of FI. Empowered Funds LLC increased its holdings in Fiserv by 7.2% in the 3rd quarter. Empowered Funds LLC now owns 9,328 shares of the business services provider's stock valued at $1,676,000 after buying an additional 626 shares during the period. Claro Advisors LLC increased its holdings in Fiserv by 3.3% in the 3rd quarter. Claro Advisors LLC now owns 2,088 shares of the business services provider's stock valued at $375,000 after buying an additional 66 shares during the period. Quest Partners LLC increased its holdings in Fiserv by 72,800.0% in the 3rd quarter. Quest Partners LLC now owns 729 shares of the business services provider's stock valued at $131,000 after buying an additional 728 shares during the period. GLOBALT Investments LLC GA increased its holdings in Fiserv by 2.5% in the 3rd quarter. GLOBALT Investments LLC GA now owns 12,785 shares of the business services provider's stock valued at $2,297,000 after buying an additional 306 shares during the period. Finally, Capital City Trust Co. FL boosted its stake in shares of Fiserv by 2.4% in the 3rd quarter. Capital City Trust Co. FL now owns 27,582 shares of the business services provider's stock valued at $4,955,000 after purchasing an additional 636 shares in the last quarter. 90.98% of the stock is owned by institutional investors.

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Fiserv Trading Down 1.7 %

Shares of NYSE:FI traded down $3.78 during trading on Friday, reaching $218.01. The stock had a trading volume of 3,537,416 shares, compared to its average volume of 2,522,983. The firm's fifty day moving average is $220.46 and its 200 day moving average is $206.01. 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 52 week low of $145.98 and a 52 week high of $238.59. The stock has a market cap of $122.37 billion, a price-to-earnings ratio of 40.45, a P/E/G ratio of 1.52 and a beta of 0.93.

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

Fiserv declared that its board has authorized 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 reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management 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 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 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 is accessible through this hyperlink. 0.75% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FI. StockNews.com lowered shares of Fiserv from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Royal Bank of Canada lifted their price target on shares of Fiserv from $255.00 to $270.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Citigroup lifted their price target on shares of Fiserv from $230.00 to $233.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. KeyCorp lifted their price target on shares of Fiserv from $250.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Finally, Seaport Res Ptn raised shares of Fiserv from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Fiserv currently has an average rating of "Moderate Buy" and a consensus target price 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.