iA Global Asset Management Inc. Has $14.57 Million Stake in Fiserv, Inc. (NYSE:FI)

iA Global Asset Management Inc. lifted its holdings in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 6.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 70,917 shares of the business services provider's stock after buying an additional 4,209 shares during the period. iA Global Asset Management Inc.'s holdings in Fiserv were worth $14,568,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of FI. Jacobi Capital Management LLC raised its stake in Fiserv by 0.4% during the fourth quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider's stock worth $2,281,000 after acquiring an additional 44 shares in the last quarter. Parkside Financial Bank & Trust increased its position in Fiserv by 1.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider's stock worth $841,000 after purchasing an additional 45 shares in the last quarter. Catalina Capital Group LLC increased its position in Fiserv by 2.3% during the 4th quarter. Catalina Capital Group LLC now owns 2,160 shares of the business services provider's stock worth $444,000 after purchasing an additional 48 shares in the last quarter. Mount Yale Investment Advisors LLC boosted its position in Fiserv by 1.2% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 4,126 shares of the business services provider's stock valued at $848,000 after buying an additional 50 shares in the last quarter. Finally, Hemington Wealth Management grew its stake in shares of Fiserv by 6.1% during the fourth quarter. Hemington Wealth Management now owns 864 shares of the business services provider's stock worth $177,000 after buying an additional 50 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

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 transaction of $10,599,750.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FI. Keefe, Bruyette & Woods increased their price target on Fiserv from $238.00 to $260.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Royal Bank of Canada lifted their price target on Fiserv from $255.00 to $270.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Seaport Res Ptn upgraded Fiserv from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 14th. Susquehanna raised their price objective on shares of Fiserv from $230.00 to $270.00 and gave the company a "positive" rating in a report on Monday, February 10th. Finally, Barclays boosted their target price on shares of Fiserv from $235.00 to $265.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Fiserv presently has an average rating of "Moderate Buy" and a consensus target price of $239.83.

Fiserv Trading Up 1.7 %

FI stock traded up $3.81 during mid-day trading on Monday, reaching $221.90. The company's stock had a trading volume of 1,685,762 shares, compared to its average volume of 2,519,593. Fiserv, Inc. has a 12 month low of $145.98 and a 12 month high of $238.59. 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 business's 50 day moving average price is $220.87 and its 200 day moving average price is $206.81. The company has a market cap of $124.55 billion, a price-to-earnings ratio of 41.17, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, topping the consensus estimate of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. On average, equities research analysts predict that Fiserv, Inc. will post 10.23 EPS for the current 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.

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.