Stevens Capital Management LP bought a new stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,147 shares of the business services provider's stock, valued at approximately $852,000.
Other hedge funds also recently bought and sold shares of the company. Sanders Capital LLC bought a new stake in shares of Fiserv during the third quarter valued at approximately $764,543,000. Raymond James Financial Inc. purchased a new position in Fiserv during the fourth quarter valued at $614,982,000. FMR LLC increased its holdings in Fiserv by 17.8% in the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider's stock valued at $1,696,341,000 after acquiring an additional 1,427,664 shares during the last quarter. Madison Investment Advisors LLC purchased a new stake in Fiserv in the 4th quarter worth $134,710,000. Finally, Kovitz Investment Group Partners LLC boosted its holdings in shares of Fiserv by 788.7% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider's stock valued at $109,700,000 after purchasing an additional 561,377 shares during the last quarter. Institutional investors own 90.98% of the company's stock.
Insider Transactions at Fiserv
In related 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 owns 227,711 shares in the company, valued at $53,637,326.05. The trade was a 16.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.75% of the company's stock.
Analysts Set New Price Targets
FI has been the topic of several research reports. Oppenheimer lifted their target price on Fiserv from $214.00 to $239.00 and gave the stock an "outperform" rating in a report on Thursday, December 19th. Susquehanna lifted 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. Citigroup increased their target price on Fiserv from $230.00 to $233.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. BMO Capital Markets boosted their price target on shares of Fiserv from $233.00 to $260.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods upped their price objective on Fiserv from $238.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Two equities research 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's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $242.32.
Read Our Latest Report on Fiserv
Fiserv Stock Performance
FI traded down $2.37 on Thursday, reaching $219.32. 3,964,473 shares of the stock were exchanged, compared to its average volume of 2,516,618. The company's 50-day moving average price is $221.85 and its 200 day moving average price is $207.36. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The firm has a market capitalization of $123.10 billion, a PE ratio of 40.69, a PEG ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $238.59.
Fiserv (NYSE:FI - Get Free Report) last released its earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, topping 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%. As a group, sell-side analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.
Fiserv declared that its Board of Directors has authorized a stock buyback program on Thursday, February 20th that allows the company to buyback 60,000,000 shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its stock is undervalued.
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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