OFI Invest Asset Management Buys New Shares in Fiserv, Inc. (NYSE:FI)

OFI Invest Asset Management acquired a new position in Fiserv, Inc. (NYSE:FI) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 23,445 shares of the business services provider’s stock, valued at approximately $4,651,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Portside Wealth Group LLC boosted its holdings in shares of Fiserv by 12.4% during the 3rd quarter. Portside Wealth Group LLC now owns 1,763 shares of the business services provider’s stock worth $317,000 after buying an additional 195 shares in the last quarter. Hollencrest Capital Management boosted its stake in Fiserv by 33.2% during the third quarter. Hollencrest Capital Management now owns 309 shares of the business services provider’s stock worth $56,000 after acquiring an additional 77 shares in the last quarter. Leavell Investment Management Inc. grew its holdings in Fiserv by 2.9% in the third quarter. Leavell Investment Management Inc. now owns 2,583 shares of the business services provider’s stock worth $464,000 after purchasing an additional 72 shares during the period. CWA Asset Management Group LLC bought a new stake in Fiserv in the third quarter valued at $503,000. Finally, Provident Trust Co. raised its holdings in shares of Fiserv by 1.6% during the third quarter. Provident Trust Co. now owns 1,103,584 shares of the business services provider’s stock valued at $198,259,000 after purchasing an additional 17,272 shares during the period. 90.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were 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 directly owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. This trade represents a 16.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.75% of the company’s stock.

Fiserv Price Performance

Shares of NYSE FI opened at $218.04 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The stock has a fifty day simple moving average of $218.31 and a two-hundred day simple moving average of $203.12. Fiserv, Inc. has a 1-year low of $145.98 and a 1-year high of $238.59. The firm has a market cap of $122.38 billion, a price-to-earnings ratio of 40.45, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. Analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FI. Keefe, Bruyette & Woods raised their target price on Fiserv from $238.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Citigroup upped their target price on Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. KeyCorp lifted their price target on shares of Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Compass Point assumed coverage on shares of Fiserv in a research note on Wednesday, November 20th. They issued a “buy” rating and a $278.00 price objective on the stock. Finally, Seaport Res Ptn raised shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Fiserv presently has a consensus rating of “Moderate Buy” and an average price target 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.