KLP Kapitalforvaltning AS Takes $43.33 Million Position in Fiserv, Inc. (NYSE:FI)

KLP Kapitalforvaltning AS acquired a new position in shares of Fiserv, Inc. (NYSE:FI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 210,936 shares of the business services provider's stock, valued at approximately $43,330,000.

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. Seaport Res Ptn upgraded Fiserv from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 14th. Citigroup boosted their price objective on Fiserv from $230.00 to $233.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. Royal Bank of Canada raised their target price on shares of Fiserv from $255.00 to $270.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Keefe, Bruyette & Woods upped their price target on shares of Fiserv from $238.00 to $260.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Finally, BMO Capital Markets raised their price objective on shares of Fiserv from $233.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Fiserv has a consensus rating of "Moderate Buy" and a consensus price target of $239.83.

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Fiserv Stock Performance

Fiserv stock traded down $0.87 during trading hours on Wednesday, hitting $221.75. The company had a trading volume of 1,690,103 shares, compared to its average volume of 2,510,285. Fiserv, Inc. has a one year low of $145.98 and a one year high of $238.59. The firm has a market cap of $124.47 billion, a PE ratio of 41.14, a PEG ratio of 1.52 and a beta of 0.93. The firm has a 50-day moving average of $221.23 and a 200 day moving average of $207.18. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07.

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 (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. On average, sell-side analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv announced that its Board of Directors has authorized a share buyback plan on Thursday, February 20th that allows the company to repurchase 60,000,000 outstanding shares. This repurchase authorization allows the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Insider Activity

In related news, COO Guy Chiarello sold 45,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief operating officer now owns 227,711 shares of the company's stock, valued at $53,637,326.05. The trade was a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.75% of the stock is owned by company insiders.

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.