Jag Capital Management LLC Purchases 263 Shares of Fiserv, Inc. (NYSE:FI)

Jag Capital Management LLC grew its position in Fiserv, Inc. (NYSE:FI) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,187 shares of the business services provider’s stock after acquiring an additional 263 shares during the period. Jag Capital Management LLC’s holdings in Fiserv were worth $5,174,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Westover Capital Advisors LLC lifted its stake in shares of Fiserv by 42.5% during the 4th quarter. Westover Capital Advisors LLC now owns 9,082 shares of the business services provider’s stock worth $1,866,000 after buying an additional 2,708 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its stake in shares of Fiserv by 18.7% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 3,824 shares of the business services provider’s stock worth $789,000 after buying an additional 603 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Fiserv by 2.6% during the 4th 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. Steward Partners Investment Advisory LLC lifted its stake in shares of Fiserv by 1.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 120,595 shares of the business services provider’s stock worth $24,773,000 after buying an additional 1,443 shares during the last quarter. Finally, Mission Wealth Management LP lifted its stake in shares of Fiserv by 1.5% during the 4th quarter. Mission Wealth Management LP now owns 20,621 shares of the business services provider’s stock worth $4,236,000 after buying an additional 298 shares during the last quarter. Institutional investors own 90.98% of the company’s stock.

Analysts Set New Price Targets

FI has been the subject of a number of research reports. Oppenheimer raised their target price on shares of Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods raised their target price 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. BMO Capital Markets lifted their price objective 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. The Goldman Sachs Group lifted their price objective 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. Finally, Morgan Stanley lifted their price objective on shares of Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Fiserv presently has an average rating of “Moderate Buy” and an average target price of $239.83.

Fiserv Stock Up 0.8 %

Shares of NYSE FI opened at $237.65 on Tuesday. 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 one year low of $145.98 and a one year high of $238.59. The stock has a market capitalization of $133.39 billion, a P/E ratio of 44.09, a PEG ratio of 1.52 and a beta of 0.94. The firm’s 50 day simple moving average is $217.30 and its two-hundred day simple moving average is $201.84.

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 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, analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its Board of Directors has initiated a share buyback plan on Thursday, February 20th that authorizes the company to buyback 60,000,000 shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction dated 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 owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.75% of the stock is owned by insiders.

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.