Oppenheimer Asset Management Inc. Increases Stake in Fiserv, Inc. (NYSE:FI)

Oppenheimer Asset Management Inc. boosted its stake in shares of Fiserv, Inc. (NYSE:FI) by 1.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 60,309 shares of the business services provider’s stock after acquiring an additional 962 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Fiserv were worth $12,389,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. FUKOKU MUTUAL LIFE INSURANCE Co purchased a new stake in Fiserv in the fourth quarter valued at about $505,000. Mn Services Vermogensbeheer B.V. lifted its stake in Fiserv by 1.9% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 237,300 shares of the business services provider’s stock valued at $48,746,000 after acquiring an additional 4,400 shares during the period. Convergence Financial LLC boosted its holdings in Fiserv by 1.7% in the fourth quarter. Convergence Financial LLC now owns 8,056 shares of the business services provider’s stock valued at $1,655,000 after purchasing an additional 133 shares during the last quarter. GenTrust LLC purchased a new stake in shares of Fiserv in the fourth quarter worth about $224,000. Finally, Simmons Bank grew its stake in shares of Fiserv by 111.5% during the 4th quarter. Simmons Bank now owns 2,751 shares of the business services provider’s stock worth $565,000 after purchasing an additional 1,450 shares during the period. Institutional investors own 90.98% of the company’s stock.

Insider Transactions at Fiserv

In other news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.75% of the company’s stock.

Fiserv Stock Up 0.9 %

Shares of NYSE FI opened at $231.85 on Friday. 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 stock has a market cap of $130.13 billion, a PE ratio of 43.01, a price-to-earnings-growth ratio of 1.52 and a beta of 0.94. The business has a 50-day moving average price of $216.09 and a 200 day moving average price of $200.29. Fiserv, Inc. has a 52-week low of $145.98 and a 52-week high of $237.99.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv declared that its board has initiated a stock buyback program on Thursday, February 20th that allows the company to repurchase 60,000,000 shares. This repurchase authorization allows the business services provider to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

FI has been the topic of several research analyst reports. Barclays raised 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. StockNews.com cut Fiserv from a “buy” rating to a “hold” rating in a report on Tuesday. Susquehanna lifted their price target on shares of Fiserv from $230.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, February 10th. Morgan Stanley upped their target price on shares of Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, Seaport Res Ptn raised Fiserv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Three analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Fiserv presently has a consensus rating of “Moderate Buy” and a consensus price target 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.