Jacobi Capital Management LLC Boosts Stock Holdings in Fiserv, Inc. (NYSE:FI)

Jacobi Capital Management LLC grew its position in shares of Fiserv, Inc. (NYSE:FI) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,104 shares of the business services provider’s stock after buying an additional 44 shares during the quarter. Jacobi Capital Management LLC’s holdings in Fiserv were worth $2,281,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in FI. Sanders Capital LLC bought a new position in Fiserv during the third quarter valued at approximately $764,543,000. FMR LLC lifted its position in Fiserv by 17.8% during the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after purchasing an additional 1,427,664 shares during the period. Kovitz Investment Group Partners LLC lifted its position in Fiserv by 788.7% during the third 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 period. Mizuho Securities USA LLC lifted its position in Fiserv by 1,238.6% during the third quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock valued at $108,488,000 after purchasing an additional 558,774 shares during the period. Finally, Proficio Capital Partners LLC lifted its position in Fiserv by 30,479.9% during the fourth quarter. Proficio Capital Partners LLC now owns 484,997 shares of the business services provider’s stock valued at $99,628,000 after purchasing an additional 483,411 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insiders Place Their Bets

In related news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the completion of the transaction, the chief operating officer now directly owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.75% of the company’s stock.

Fiserv Stock Performance

FI opened at $235.67 on Friday. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $237.99. The stock has a market capitalization of $132.28 billion, a price-to-earnings ratio of 43.72, a PEG ratio of 1.52 and a beta of 0.94. The company has a fifty day moving average of $216.68 and a 200 day moving average of $200.81. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06.

Fiserv (NYSE:FI) last issued its quarterly earnings data 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 net margin of 15.31% and a return on equity of 17.93%. As a group, sell-side analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its board has approved a share repurchase program on Thursday, February 20th that permits the company to buyback 60,000,000 shares. This buyback authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Compass Point assumed coverage on shares of Fiserv in a research report on Wednesday, November 20th. They set a “buy” rating and a $278.00 price objective on the stock. Susquehanna increased their price target on shares of Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, February 10th. Keefe, Bruyette & Woods increased their price target on shares of Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company increased their price target on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Barclays increased their price target on shares of Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Fiserv has a consensus rating of “Moderate Buy” and a consensus target price of $239.83.

Fiserv Company Profile

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.