Parallel Advisors LLC Raises Holdings in Fiserv, Inc. (NYSE:FI)

Parallel Advisors LLC boosted its stake in shares of Fiserv, Inc. (NYSE:FI) by 5.3% in the 4th quarter, HoldingsChannel reports. The fund owned 6,129 shares of the business services provider’s stock after buying an additional 310 shares during the quarter. Parallel Advisors LLC’s holdings in Fiserv were worth $1,259,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Soros Capital Management LLC lifted its holdings in Fiserv by 71.7% in the 3rd quarter. Soros Capital Management LLC now owns 54,797 shares of the business services provider’s stock worth $9,844,000 after buying an additional 22,884 shares during the period. Czech National Bank lifted its holdings in Fiserv by 5.2% in the 4th quarter. Czech National Bank now owns 123,353 shares of the business services provider’s stock worth $25,339,000 after buying an additional 6,072 shares during the period. Chiron Investment Management LLC purchased a new stake in Fiserv in the 3rd quarter worth approximately $4,709,000. Trust Co. of Vermont lifted its stake in shares of Fiserv by 170.4% in the 4th 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 during the period. Finally, Cardano Risk Management B.V. purchased a new position in shares of Fiserv in the 4th quarter valued at approximately $97,254,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Fiserv Stock Down 0.6 %

Fiserv stock opened at $216.77 on Wednesday. The firm has a market cap of $121.67 billion, a price-to-earnings ratio of 40.22, a PEG ratio of 1.52 and a beta of 0.93. The stock has a fifty day simple moving average of $219.47 and a two-hundred day simple moving average of $205.48. Fiserv, Inc. has a 12 month low of $145.98 and a 12 month high of $238.59. 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 posted its earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, topping 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%. Equities analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its Board of Directors has approved a stock buyback program on Thursday, February 20th that permits the company to repurchase 60,000,000 shares. This repurchase authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, COO Guy Chiarello sold 45,000 shares of Fiserv 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 completion of the sale, the chief operating officer now owns 227,711 shares of the company’s stock, valued at $53,637,326.05. The trade was a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.75% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on FI shares. BMO Capital Markets raised their target price on Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Citigroup raised their target price on Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Wells Fargo & Company raised their target price on Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Susquehanna raised their target price on Fiserv from $230.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, February 10th. Finally, Royal Bank of Canada raised their target price on Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.