Fiserv, Inc. (NYSE:FI) Shares Purchased by Summit Financial LLC

Summit Financial LLC raised its holdings in Fiserv, Inc. (NYSE:FI) by 30.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,520 shares of the business services provider’s stock after acquiring an additional 1,295 shares during the quarter. Summit Financial LLC’s holdings in Fiserv were worth $1,134,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Marshall Investment Management LLC acquired a new stake in shares of Fiserv in the fourth quarter valued at about $29,000. Valley National Advisers Inc. purchased a new position in Fiserv in the fourth quarter valued at about $29,000. Compass Financial Services Inc purchased a new position in Fiserv in the fourth quarter valued at about $31,000. Campbell Capital Management Inc. acquired a new stake in shares of Fiserv during the 4th quarter valued at approximately $37,000. Finally, Knuff & Co LLC purchased a new stake in shares of Fiserv during the 4th quarter worth approximately $45,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Fiserv Stock Up 0.5 %

Shares of FI opened at $221.98 on Wednesday. The firm has a market cap of $124.59 billion, a PE ratio of 41.18, 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. The company’s fifty day moving average is $222.51 and its two-hundred day moving average is $208.84. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $238.59.

Fiserv (NYSE:FI) last posted 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%. Analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv announced that its Board of Directors has authorized a stock 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 buy 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.

Insider Buying and Selling

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. Corporate insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FI shares. Morgan Stanley lifted their price objective on Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Keefe, Bruyette & Woods boosted their price objective 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 objective on shares of Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Oppenheimer upped their price target on shares of Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Finally, Citigroup increased their price target on shares of Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Two 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. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $242.32.

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.