Westover Capital Advisors LLC Buys 2,708 Shares of Fiserv, Inc. (NYSE:FI)

Westover Capital Advisors LLC increased its stake in Fiserv, Inc. (NYSE:FI) by 42.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,082 shares of the business services provider’s stock after buying an additional 2,708 shares during the quarter. Westover Capital Advisors LLC’s holdings in Fiserv were worth $1,866,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Soros Capital Management LLC lifted its position in Fiserv by 71.7% in the third quarter. Soros Capital Management LLC now owns 54,797 shares of the business services provider’s stock worth $9,844,000 after buying an additional 22,884 shares during the last quarter. Czech National Bank increased its stake in Fiserv by 5.2% in the fourth quarter. Czech National Bank now owns 123,353 shares of the business services provider’s stock worth $25,339,000 after purchasing an additional 6,072 shares during the period. Chiron Investment Management LLC purchased a new stake in Fiserv in the third quarter worth $4,709,000. Trust Co. of Vermont increased its stake 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 worth $1,405,000 after purchasing an additional 4,310 shares during the period. Finally, Cardano Risk Management B.V. purchased a new stake in Fiserv in the fourth quarter worth $97,254,000. 90.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on FI. Citigroup increased their target price on Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Oppenheimer increased their target price on Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods increased their target price on Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. The Goldman Sachs Group raised their price target on Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada raised their price target on Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Fiserv presently has an average rating of “Moderate Buy” and a consensus price target of $239.83.

Insiders Place Their Bets

In related news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 227,711 shares in the company, valued at $53,637,326.05. This represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.75% of the company’s stock.

Fiserv Price Performance

Shares of NYSE FI opened at $237.65 on Tuesday. 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 company has a market cap of $133.39 billion, a PE ratio of 44.09, a P/E/G ratio of 1.52 and a beta of 0.94. The business has a 50-day simple moving average of $217.30 and a two-hundred day simple moving average of $201.84. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $238.59.

Fiserv (NYSE:FI) last issued 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%. As a group, equities analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its Board of Directors has approved a share buyback 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 buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.