Sheets Smith Investment Management purchased a new stake in Fiserv, Inc. (NYSE:FI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,970 shares of the business services provider's stock, valued at approximately $1,432,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Valley National Advisers Inc. acquired a new stake in Fiserv in the fourth quarter worth $29,000. Marshall Investment Management LLC acquired a new stake in Fiserv during the 4th quarter worth $29,000. Compass Financial Services Inc bought a new position in Fiserv during the fourth quarter worth about $31,000. Campbell Capital Management Inc. acquired a new position in Fiserv in the fourth quarter valued at about $37,000. Finally, Knuff & Co LLC bought a new stake in shares of Fiserv in the fourth quarter worth about $45,000. 90.98% of the stock is currently owned by institutional investors.
Fiserv Stock Performance
NYSE:FI traded down $3.03 during mid-day trading on Friday, reaching $216.15. 2,499,694 shares of the company's stock were exchanged, compared to its average volume of 2,629,313. 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 firm has a market capitalization of $121.32 billion, a PE ratio of 40.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a one year low of $145.98 and a one year high of $238.59. The business's fifty day simple moving average is $222.00 and its two-hundred day simple moving average is $207.67.
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 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%. Analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.
Fiserv announced that its Board of Directors has initiated a share repurchase program on Thursday, February 20th that permits the company to buyback 60,000,000 outstanding shares. This buyback authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its stock is undervalued.
Insider Activity
In related 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 value of $10,599,750.00. Following the transaction, the chief operating officer now owns 227,711 shares in the company, valued at approximately $53,637,326.05. This trade represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.75% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on FI shares. BMO Capital Markets boosted their price objective on Fiserv from $233.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Morgan Stanley increased their price objective on shares of Fiserv from $258.00 to $267.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods boosted their price objective on shares of Fiserv from $238.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. StockNews.com began coverage on shares of Fiserv in a research note on Sunday, March 23rd. They issued a "buy" rating for the company. Finally, Stephens lifted their price target on Fiserv from $255.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Two 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $242.32.
Check Out Our Latest Stock Analysis on Fiserv
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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