Sei Investments Co. increased its position in Fiserv, Inc. (NYSE:FI - Free Report) by 57.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 959,157 shares of the business services provider's stock after acquiring an additional 350,627 shares during the period. Sei Investments Co. owned about 0.17% of Fiserv worth $197,031,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Marshall Investment Management LLC purchased a new position in shares of Fiserv in the fourth quarter worth $29,000. Valley National Advisers Inc. bought a new stake in Fiserv in the 4th quarter worth about $29,000. Compass Financial Services Inc purchased a new position in Fiserv in the 4th quarter worth about $31,000. Campbell Capital Management Inc. bought a new position in Fiserv during the 4th quarter valued at about $37,000. Finally, Knuff & Co LLC purchased a new stake in shares of Fiserv during the 4th quarter valued at about $45,000. 90.98% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on FI shares. Seaport Res Ptn raised shares of Fiserv from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 14th. Citigroup boosted their target price on shares of Fiserv from $230.00 to $233.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. Oppenheimer raised their price target on Fiserv from $214.00 to $239.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. KeyCorp upped their price objective on Fiserv from $250.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company raised their target price on Fiserv from $240.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Three 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $239.83.
View Our Latest Stock Report on Fiserv
Fiserv Price Performance
FI traded down $0.87 during trading on Wednesday, reaching $221.75. 1,690,103 shares of the company traded hands, compared to its average volume of 2,510,285. Fiserv, Inc. has a 12-month low of $145.98 and a 12-month high of $238.59. The firm has a fifty day simple moving average of $221.23 and a 200 day simple moving average of $207.18. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. The company has a market cap of $124.47 billion, a P/E ratio of 41.14, a PEG ratio of 1.52 and a beta of 0.93.
Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.
Fiserv announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 20th that allows the company to repurchase 60,000,000 outstanding shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.
Insider Activity at Fiserv
In other Fiserv news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction that occurred on 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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.75% of the stock is owned by corporate insiders.
About Fiserv
(
Free Report)
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.
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