Fiserv, Inc. (NYSE:FI) Shares Acquired by Convergence Financial LLC

Convergence Financial LLC grew its holdings in Fiserv, Inc. (NYSE:FI) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,056 shares of the business services provider’s stock after purchasing an additional 133 shares during the quarter. Convergence Financial LLC’s holdings in Fiserv were worth $1,655,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Valley National Advisers Inc. acquired a new stake in Fiserv in the 4th quarter valued at about $29,000. Marshall Investment Management LLC acquired a new stake in Fiserv in the fourth quarter valued at approximately $29,000. Compass Financial Services Inc purchased a new position in Fiserv in the fourth quarter worth approximately $31,000. Kennebec Savings Bank acquired a new position in Fiserv during the 3rd quarter worth approximately $40,000. Finally, Friedenthal Financial acquired a new position in Fiserv during the 4th quarter worth approximately $49,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Price Performance

Fiserv stock opened at $229.58 on Thursday. The business has a 50 day simple moving average of $215.50 and a 200-day simple moving average of $200.07. Fiserv, Inc. has a 12 month low of $145.98 and a 12 month high of $237.99. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The stock has a market capitalization of $128.86 billion, a PE ratio of 42.59, a price-to-earnings-growth ratio of 1.52 and a beta of 0.94.

Fiserv (NYSE:FI) last announced 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%. Equities analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv declared that its board has authorized a share buyback program on Thursday, February 20th that authorizes the company to buyback 60,000,000 outstanding shares. This buyback authorization authorizes 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 leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Susquehanna lifted their price target on Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, February 10th. Barclays increased their price objective on Fiserv from $235.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, February 10th. KeyCorp raised their target price on Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Stephens increased their price target on shares of Fiserv from $255.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $239.83.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the transaction, the chief operating officer now owns 227,711 shares of the company’s stock, valued at $53,637,326.05. This represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.75% of the stock is owned by insiders.

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.