Kornitzer Capital Management Inc. KS Invests $222,000 in Fiserv, Inc. (NYSE:FI)

Kornitzer Capital Management Inc. KS acquired a new stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,079 shares of the business services provider's stock, valued at approximately $222,000.

Several other large investors have also recently made changes to their positions in FI. Catalina Capital Group LLC boosted its stake in Fiserv by 2.3% during the fourth quarter. Catalina Capital Group LLC now owns 2,160 shares of the business services provider's stock valued at $444,000 after buying an additional 48 shares during the last quarter. Mount Yale Investment Advisors LLC raised its position in Fiserv by 1.2% during 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 purchasing an additional 50 shares during the period. Hemington Wealth Management raised its holdings in shares of Fiserv by 6.1% in 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 period. Wealthcare Advisory Partners LLC raised its holdings in shares of Fiserv by 3.0% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 1,752 shares of the business services provider's stock worth $360,000 after buying an additional 51 shares during the period. Finally, Optas LLC raised its holdings in shares of Fiserv by 1.7% in the third quarter. Optas LLC now owns 3,216 shares of the business services provider's stock worth $578,000 after buying an additional 54 shares during the period. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were 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 directly owns 227,711 shares of the company's stock, valued at approximately $53,637,326.05. This trade represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.75% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on FI shares. Royal Bank of Canada raised their price objective on Fiserv from $255.00 to $270.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Citigroup raised their price objective on Fiserv from $230.00 to $233.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Susquehanna raised their price objective on Fiserv from $230.00 to $270.00 and gave the stock a "positive" rating in a report on Monday, February 10th. KeyCorp raised their price objective on Fiserv from $250.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Finally, Stephens increased their target price on Fiserv from $255.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $239.83.

Fiserv Stock Performance

Shares of NYSE:FI traded down $2.16 on Friday, reaching $232.27. 2,183,624 shares of the company's stock were exchanged, compared to its average volume of 2,716,564. The business's 50-day moving average is $213.26 and its two-hundred day moving average is $197.74. The firm has a market capitalization of $132.14 billion, a price-to-earnings ratio of 43.09, a PEG ratio of 1.53 and a beta of 0.94. The company has a quick ratio of 1.07, a current ratio of 1.06 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 $237.99.

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 for the quarter, beating 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%. As a group, equities research analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its Board of Directors has approved a stock buyback plan on Thursday, February 20th that authorizes the company to repurchase 60,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign 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.