King Luther Capital Management Corp Has $43.79 Million Holdings in Fiserv, Inc. (NYSE:FI)

King Luther Capital Management Corp grew its position in shares of Fiserv, Inc. (NYSE:FI) by 49.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 213,191 shares of the business services provider’s stock after purchasing an additional 70,911 shares during the period. King Luther Capital Management Corp’s holdings in Fiserv were worth $43,794,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Soros Capital Management LLC boosted its stake in shares of Fiserv by 71.7% during the third quarter. Soros Capital Management LLC now owns 54,797 shares of the business services provider’s stock valued at $9,844,000 after purchasing an additional 22,884 shares in the last quarter. Czech National Bank boosted its stake in shares of Fiserv by 5.2% during the fourth quarter. Czech National Bank now owns 123,353 shares of the business services provider’s stock valued at $25,339,000 after purchasing an additional 6,072 shares in the last quarter. Chiron Investment Management LLC acquired a new stake in shares of Fiserv during the third quarter valued at about $4,709,000. Trust Co. of Vermont boosted its stake in shares of Fiserv by 170.4% during 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 purchasing an additional 4,310 shares in the last quarter. Finally, Cardano Risk Management B.V. acquired a new stake in shares of Fiserv during the fourth quarter valued at about $97,254,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Fiserv Trading Down 1.5 %

Shares of Fiserv stock opened at $214.76 on Tuesday. The stock has a fifty day simple moving average of $218.48 and a 200 day simple moving average of $203.69. Fiserv, Inc. has a 12-month low of $145.98 and a 12-month high of $238.59. The company has a market capitalization of $120.54 billion, a P/E ratio of 39.84, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86.

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

Fiserv declared that its board has authorized a stock buyback program on Thursday, February 20th that allows the company to repurchase 60,000,000 outstanding shares. This repurchase authorization allows the business services provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the business’s 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 transaction, the chief operating officer now owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.75% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on FI. Compass Point began coverage on Fiserv in a research note on Wednesday, November 20th. They issued a “buy” rating and a $278.00 price objective on the stock. Royal Bank of Canada lifted their price objective on Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Seaport Res Ptn raised Fiserv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. StockNews.com lowered Fiserv from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Citigroup lifted their price objective on Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Three analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $239.83.

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.