Fiserv, Inc. (NYSE:FI) Shares Purchased by Summit Global Investments

Summit Global Investments increased its holdings in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 107.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,817 shares of the business services provider's stock after purchasing an additional 1,459 shares during the period. Summit Global Investments' holdings in Fiserv were worth $579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FI. Soros Capital Management LLC boosted its stake in shares of Fiserv by 71.7% during the 3rd quarter. Soros Capital Management LLC now owns 54,797 shares of the business services provider's stock worth $9,844,000 after acquiring an additional 22,884 shares in the last quarter. Czech National Bank raised its stake in shares of Fiserv by 5.2% during the 4th quarter. Czech National Bank now owns 123,353 shares of the business services provider's stock worth $25,339,000 after buying an additional 6,072 shares during the period. Chiron Investment Management LLC purchased a new position in shares of Fiserv during the 3rd quarter valued at approximately $4,709,000. Trust Co. of Vermont increased its holdings in Fiserv by 170.4% in the 4th quarter. Trust Co. of Vermont now owns 6,839 shares of the business services provider's stock worth $1,405,000 after acquiring an additional 4,310 shares in the last quarter. Finally, Cardano Risk Management B.V. acquired a new position in Fiserv during the fourth quarter worth $97,254,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

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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 transaction of $10,599,750.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.75% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on FI. Susquehanna lifted their price objective on Fiserv from $230.00 to $270.00 and gave the stock a "positive" rating in a report on Monday, February 10th. Keefe, Bruyette & Woods boosted their price objective on Fiserv from $238.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Stephens lifted their price target on Fiserv from $255.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Barclays upped their price objective on shares of Fiserv from $235.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Finally, StockNews.com initiated coverage on shares of Fiserv in a report on Sunday. They issued a "buy" rating on the stock. 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 stock. Based on data from MarketBeat, Fiserv currently has a consensus rating of "Buy" and a consensus price target of $242.32.

Fiserv Stock Down 1.1 %

Shares of NYSE:FI traded down $2.37 on Thursday, hitting $219.32. 3,964,473 shares of the company's stock were exchanged, compared to its average volume of 2,516,085. Fiserv, Inc. has a 1-year low of $145.98 and a 1-year high of $238.59. The company has a market capitalization of $123.10 billion, a PE ratio of 40.69, 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 quick ratio of 1.07 and a current ratio of 1.06. The firm's 50-day moving average is $221.58 and its 200 day moving average is $207.28.

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 return on equity of 17.93% and a net margin of 15.31%. Sell-side analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 20th that authorizes the company to repurchase 60,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

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.