Nemes Rush Group LLC Buys 5,347 Shares of Fiserv, Inc. (NYSE:FI)

Nemes Rush Group LLC lifted its stake in Fiserv, Inc. (NYSE:FI) by 17.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,777 shares of the business services provider’s stock after acquiring an additional 5,347 shares during the quarter. Nemes Rush Group LLC’s holdings in Fiserv were worth $7,349,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in FI. Czech National Bank raised its stake in Fiserv by 5.2% during the 4th quarter. Czech National Bank now owns 123,353 shares of the business services provider’s stock valued at $25,339,000 after buying an additional 6,072 shares during the last quarter. Chiron Investment Management LLC purchased a new stake in Fiserv during the third quarter valued at $4,709,000. Trust Co. of Vermont lifted its holdings in Fiserv by 170.4% in the fourth quarter. Trust Co. of Vermont now owns 6,839 shares of the business services provider’s stock valued at $1,405,000 after acquiring an additional 4,310 shares during the period. Cardano Risk Management B.V. purchased a new position in Fiserv in the fourth quarter worth about $97,254,000. Finally, M&T Bank Corp increased its position in shares of Fiserv by 12.0% during the 3rd quarter. M&T Bank Corp now owns 140,460 shares of the business services provider’s stock valued at $25,234,000 after purchasing an additional 15,103 shares during the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on FI shares. Oppenheimer boosted their target price on shares of Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Seaport Res Ptn raised Fiserv from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Morgan Stanley lifted their target price on Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. BMO Capital Markets upped their price target on Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, KeyCorp lifted their price objective on Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Two 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. According to MarketBeat, Fiserv currently has a consensus rating of “Buy” and a consensus price target of $242.32.

Insider Activity

In other news, COO Guy Chiarello sold 45,000 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer now owns 227,711 shares in the company, valued at approximately $53,637,326.05. This trade represents a 16.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.75% of the company’s stock.

Fiserv Trading Up 2.3 %

FI stock opened at $221.19 on Tuesday. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $238.59. 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 has a fifty day moving average price of $222.25 and a 200 day moving average price of $208.51. The firm has a market cap of $124.15 billion, a PE ratio of 41.04, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

Fiserv (NYSE:FI) last posted its earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share 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%. Sell-side analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 20th that allows the company to buyback 60,000,000 shares. This buyback authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are 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.