Cullen Frost Bankers Inc. Has $4 Million Position in Fiserv, Inc. (NYSE:FI)

Cullen Frost Bankers Inc. raised its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 655.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,475 shares of the business services provider's stock after acquiring an additional 16,897 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in Fiserv were worth $4,001,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC grew its position in shares of Fiserv by 48.9% during the 4th quarter. Proficio Capital Partners LLC now owns 2,361 shares of the business services provider's stock worth $485,000 after buying an additional 775 shares during the period. M&T Bank Corp grew its position in shares of Fiserv by 0.9% during the 4th quarter. M&T Bank Corp now owns 141,654 shares of the business services provider's stock worth $29,099,000 after buying an additional 1,194 shares during the period. Assetmark Inc. grew its position in shares of Fiserv by 111.1% during the 4th quarter. Assetmark Inc. now owns 87,481 shares of the business services provider's stock worth $17,970,000 after buying an additional 46,045 shares during the period. Smithfield Trust Co grew its position in shares of Fiserv by 3.8% during the 4th quarter. Smithfield Trust Co now owns 10,156 shares of the business services provider's stock worth $2,082,000 after buying an additional 370 shares during the period. Finally, NewSquare Capital LLC grew its position in shares of Fiserv by 6.4% during the 4th quarter. NewSquare Capital LLC now owns 32,891 shares of the business services provider's stock worth $6,756,000 after buying an additional 1,970 shares during the period. Institutional investors and hedge funds own 90.98% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FI. Citigroup lifted their price target on shares of Fiserv from $230.00 to $233.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Morgan Stanley lifted their price target on shares of Fiserv from $258.00 to $267.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods lifted their price target on shares of Fiserv from $238.00 to $260.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Seaport Res Ptn raised shares of Fiserv from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. Finally, Barclays lifted their price objective on shares of Fiserv from $235.00 to $265.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $239.83.

Insider Activity

In related news, COO Guy Chiarello sold 45,000 shares of the business'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 directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.75% of the stock is owned by corporate insiders.

Fiserv Stock Down 0.9 %

Shares of NYSE FI traded down $1.91 during midday trading on Friday, reaching $218.04. The company's stock had a trading volume of 4,456,911 shares, 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. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $238.59. The stock has a market capitalization of $122.38 billion, a price-to-earnings ratio of 40.45, a PEG ratio of 1.52 and a beta of 0.93. The stock has a 50 day simple moving average of $218.31 and a 200-day simple moving average of $203.37.

Fiserv (NYSE:FI - Get Free Report) last posted its quarterly earnings data 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%. Equities research analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv declared that its Board of Directors has authorized a share buyback program on Thursday, February 20th that permits the company to buyback 60,000,000 outstanding shares. This buyback authorization permits the business services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

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.