Generali Asset Management SPA SGR Makes New $9.44 Million Investment in Fiserv, Inc. (NYSE:FI)

Generali Asset Management SPA SGR bought a new position in shares of Fiserv, Inc. (NYSE:FI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 45,955 shares of the business services provider’s stock, valued at approximately $9,440,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC grew its holdings in shares of 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 buying an additional 1,427,664 shares during the period. Sanders Capital LLC bought a new stake in Fiserv during the 3rd quarter worth about $764,543,000. Bank of New York Mellon Corp lifted its position in Fiserv by 4.7% during the 4th quarter. Bank of New York Mellon Corp now owns 3,711,072 shares of the business services provider’s stock worth $762,328,000 after buying an additional 164,949 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Fiserv by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,620,785 shares of the business services provider’s stock worth $743,782,000 after buying an additional 90,475 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Fiserv in the 4th quarter valued at about $614,982,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the 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 completion of the sale, the chief operating officer now directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.75% of the stock is currently owned by insiders.

Fiserv Price Performance

Shares of NYSE FI opened at $218.05 on Tuesday. The firm has a 50-day simple moving average of $219.21 and a 200-day simple moving average of $205.19. The stock has a market capitalization of $122.39 billion, a price-to-earnings ratio of 40.45, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. Fiserv, Inc. has a 52 week low of $145.98 and a 52 week high of $238.59.

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

Fiserv announced that its Board of Directors has approved a stock repurchase plan on Thursday, February 20th that permits the company to repurchase 60,000,000 outstanding shares. This repurchase authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FI. StockNews.com cut shares of Fiserv from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Royal Bank of Canada upped their price target on shares of Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Morgan Stanley upped their price target on shares of Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Stephens increased their target price on shares of Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company increased their target price 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. Three investment 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 company. Based on data from MarketBeat.com, Fiserv presently has an average rating of “Moderate Buy” and a consensus price target of $239.83.

Fiserv 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.