Fiserv, Inc. (NYSE:FI) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Fiserv, Inc. (NYSE:FI) by 11.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 293,710 shares of the business services provider’s stock after purchasing an additional 29,164 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Fiserv were worth $60,334,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FI. Portside Wealth Group LLC lifted its position in shares of Fiserv by 12.4% during the third quarter. Portside Wealth Group LLC now owns 1,763 shares of the business services provider’s stock worth $317,000 after purchasing an additional 195 shares in the last quarter. Leavell Investment Management Inc. lifted its position in shares of Fiserv by 2.9% during the third quarter. Leavell Investment Management Inc. now owns 2,583 shares of the business services provider’s stock worth $464,000 after purchasing an additional 72 shares in the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Fiserv during the third quarter worth $503,000. Assetmark Inc. lifted its position in shares of Fiserv by 27.4% during the third quarter. Assetmark Inc. now owns 41,436 shares of the business services provider’s stock worth $7,444,000 after purchasing an additional 8,923 shares in the last quarter. Finally, GSG Advisors LLC acquired a new position in shares of Fiserv during the third quarter worth $236,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.75% of the company’s stock.

Fiserv Stock Performance

Shares of FI opened at $218.04 on Monday. The company has a market cap of $122.38 billion, a price-to-earnings ratio of 40.45, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The firm has a fifty day moving average of $218.31 and a 200-day moving average of $203.37. Fiserv, Inc. has a 1 year low of $145.98 and a 1 year high of $238.59. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06.

Fiserv (NYSE:FI) last posted its quarterly earnings data 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 net margin of 15.31% and a return on equity of 17.93%. As a group, equities analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv announced that its Board of Directors has authorized a share buyback plan on Thursday, February 20th that allows the company to repurchase 60,000,000 shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts recently issued reports on FI shares. Stephens lifted their price target on shares of Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. KeyCorp lifted their price target on shares of Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. BMO Capital Markets lifted their price target on shares of Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Keefe, Bruyette & Woods lifted their price target on shares of Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, The Goldman Sachs Group lifted their price target on shares of Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Three research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $239.83.

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.