OFI Invest Asset Management Acquires Shares of 23,445 Fiserv, Inc. (NYSE:FI)

OFI Invest Asset Management purchased a new position in Fiserv, Inc. (NYSE:FI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 23,445 shares of the business services provider's stock, valued at approximately $4,651,000.

Other institutional investors have also recently made changes to their positions in the company. Valley National Advisers Inc. acquired a new position in Fiserv during the fourth quarter worth $29,000. Marshall Investment Management LLC acquired a new position in Fiserv during the fourth quarter worth $29,000. Compass Financial Services Inc acquired a new position in Fiserv during the fourth quarter worth $31,000. Kennebec Savings Bank acquired a new position in Fiserv during the third quarter worth $40,000. Finally, Friedenthal Financial acquired a new position in Fiserv during the fourth quarter worth $49,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Fiserv Price Performance

NYSE:FI traded down $1.91 during trading hours on Friday, reaching $218.04. 4,456,911 shares of the company traded hands, compared to its average volume of 2,995,866. The firm's 50-day moving average is $218.31 and its 200-day moving average is $203.37. The stock has a market cap of $122.38 billion, a P/E ratio of 40.45, a P/E/G ratio of 1.52 and a beta of 0.93. 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, Inc. has a 1-year low of $145.98 and a 1-year high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last announced its earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, beating analysts' consensus estimates of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. Equities research analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Remove Ads

Fiserv announced that its board has initiated a stock repurchase 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 buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Susquehanna boosted their price objective on Fiserv from $230.00 to $270.00 and gave the stock a "positive" rating in a research note on Monday, February 10th. Keefe, Bruyette & Woods lifted their target price on Fiserv from $238.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Morgan Stanley lifted their target price on Fiserv from $258.00 to $267.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Wells Fargo & Company boosted their price objective on Fiserv from $240.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Finally, Citigroup boosted their price objective on Fiserv from $230.00 to $233.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $239.83.

Insider Transactions at Fiserv

In other news, COO Guy Chiarello sold 45,000 shares of the firm's stock in a transaction 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 sale, the chief operating officer now owns 227,711 shares in the company, valued at $53,637,326.05. This trade represents 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. 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.