Mystic Asset Management Inc. Has $1.49 Million Stock Holdings in Fiserv, Inc. (NYSE:FI)

Mystic Asset Management Inc. raised its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 49.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,235 shares of the business services provider's stock after acquiring an additional 2,380 shares during the period. Mystic Asset Management Inc.'s holdings in Fiserv were worth $1,486,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in FI. Marshall Investment Management LLC bought a new stake in shares of Fiserv in the fourth quarter valued at approximately $29,000. Valley National Advisers Inc. bought a new stake in shares of Fiserv in the fourth quarter valued at approximately $29,000. Compass Financial Services Inc bought a new stake in shares of Fiserv in the fourth quarter valued at approximately $31,000. Campbell Capital Management Inc. bought a new stake in shares of Fiserv in the fourth quarter valued at approximately $37,000. Finally, Knuff & Co LLC bought a new stake in shares of Fiserv in the fourth quarter valued at approximately $45,000. Institutional investors own 90.98% of the company's stock.

Fiserv Trading Down 1.7 %

NYSE:FI traded down $3.78 during trading hours on Friday, hitting $218.01. 3,537,416 shares of the company were exchanged, compared to its average volume of 2,522,983. The company has a fifty day simple moving average of $220.46 and a 200 day simple moving average of $206.01. Fiserv, Inc. has a one year low of $145.98 and a one year 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 stock has a market capitalization of $122.37 billion, a price-to-earnings ratio of 40.45, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

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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, topping 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%. Sell-side analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FI. Citigroup raised their target price on Fiserv from $230.00 to $233.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Oppenheimer raised their target price on Fiserv from $214.00 to $239.00 and gave the company an "outperform" rating in a report on Thursday, December 19th. BMO Capital Markets raised their target price on Fiserv from $233.00 to $260.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. KeyCorp raised their target price on Fiserv from $250.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Finally, Susquehanna raised their target price on Fiserv from $230.00 to $270.00 and gave the company a "positive" rating in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $239.83.

Insider Transactions at Fiserv

In other news, COO Guy Chiarello sold 45,000 shares of Fiserv 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.75% of the company's stock.

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.