1,196 Shares in Fiserv, Inc. (NYSE:FI) Bought by Seven Mile Advisory

Seven Mile Advisory acquired a new stake in shares of Fiserv, Inc. (NYSE:FI) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,196 shares of the business services provider’s stock, valued at approximately $246,000.

A number of other hedge funds have also recently bought and sold shares of FI. Norges Bank purchased a new position in Fiserv during the fourth quarter worth about $1,406,452,000. Alliancebernstein L.P. boosted its stake in shares of Fiserv by 65.6% in the 4th quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock worth $1,116,919,000 after buying an additional 2,153,554 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Fiserv by 4.7% in the fourth quarter. Bank of New York Mellon Corp now owns 3,711,072 shares of the business services provider’s stock valued at $762,328,000 after acquiring an additional 164,949 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Fiserv by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,620,785 shares of the business services provider’s stock valued at $743,782,000 after acquiring an additional 90,475 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Fiserv during the fourth quarter worth $614,982,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 0.75% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FI. Susquehanna raised their target price on Fiserv from $230.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, February 10th. 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. Seaport Res Ptn raised shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Wells Fargo & Company upped their price objective on Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, The Goldman Sachs Group boosted their target price on Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Two research 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 “Buy” and an average price target of $242.32.

Fiserv Price Performance

Shares of NYSE:FI opened at $216.15 on Monday. Fiserv, Inc. has a one year low of $145.98 and a one year high of $238.59. 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 firm has a market capitalization of $121.32 billion, a price-to-earnings ratio of 40.10, a PEG ratio of 1.52 and a beta of 0.93. The company’s fifty day moving average price is $222.00 and its 200-day moving average price is $208.17.

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

Fiserv announced that its board has initiated a stock repurchase plan on Thursday, February 20th that allows the company to buyback 60,000,000 shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Fiserv Company 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.