Meiji Yasuda Asset Management Co Ltd. Has $2.34 Million Stock Holdings in Fiserv, Inc. (NYSE:FI)

Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Fiserv, Inc. (NYSE:FI) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,412 shares of the business services provider’s stock after acquiring an additional 666 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Fiserv were worth $2,344,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Fiserv by 17.8% during the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after acquiring an additional 1,427,664 shares during the period. Sanders Capital LLC bought a new position in Fiserv during the 3rd quarter valued at about $764,543,000. Bank of New York Mellon Corp boosted its position in 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 buying an additional 164,949 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in 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 worth $743,782,000 after buying an additional 90,475 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Fiserv during the fourth quarter worth approximately $614,982,000. Institutional investors own 90.98% of the company’s stock.

Fiserv Stock Up 0.4 %

Fiserv stock opened at $222.65 on Wednesday. The firm has a market capitalization of $124.97 billion, a price-to-earnings ratio of 41.31, a PEG ratio of 1.52 and a beta of 0.93. The company’s 50 day simple moving average is $221.23 and its 200 day simple moving average is $207.18. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $238.59.

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

Fiserv declared that its board has authorized a stock buyback plan on Thursday, February 20th that authorizes the company to repurchase 60,000,000 shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, COO Guy Chiarello sold 45,000 shares of the business’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 completion of the transaction, the chief operating officer now directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on FI shares. StockNews.com downgraded Fiserv from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Wells Fargo & Company increased their target price on Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. KeyCorp lifted their price target on Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Keefe, Bruyette & Woods increased their price objective on shares of Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Stephens boosted their target price 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. Three investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Fiserv presently has an average rating of “Moderate Buy” and an average target price of $239.83.

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.