Resona Asset Management Co. Ltd. Invests $36.30 Million in Fiserv, Inc. (NYSE:FI)

Resona Asset Management Co. Ltd. bought a new stake in shares of Fiserv, Inc. (NYSE:FI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 176,379 shares of the business services provider’s stock, valued at approximately $36,296,000.

Several other institutional investors also recently bought and sold shares of FI. IHT Wealth Management LLC increased its holdings in shares of Fiserv by 31.7% during the third quarter. IHT Wealth Management LLC now owns 3,056 shares of the business services provider’s stock valued at $551,000 after acquiring an additional 735 shares in the last quarter. Royal London Asset Management Ltd. increased its stake in Fiserv by 3.7% during the 3rd quarter. Royal London Asset Management Ltd. now owns 259,264 shares of the business services provider’s stock valued at $46,577,000 after purchasing an additional 9,274 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of Fiserv by 19.6% in the third quarter. Quantinno Capital Management LP now owns 40,972 shares of the business services provider’s stock worth $7,361,000 after buying an additional 6,722 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Fiserv by 10.5% during the third quarter. Stifel Financial Corp now owns 279,469 shares of the business services provider’s stock worth $50,207,000 after buying an additional 26,459 shares during the period. Finally, Sora Investors LLC purchased a new stake in shares of Fiserv during the third quarter valued at $8,131,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.75% of the stock is owned by corporate insiders.

Fiserv Stock Performance

FI opened at $198.77 on Friday. The company has a market cap of $111.57 billion, a price-to-earnings ratio of 36.88, a PEG ratio of 1.52 and a beta of 0.91. The firm’s fifty day simple moving average is $222.85 and its two-hundred day simple moving average is $209.18. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. Fiserv, Inc. has a 52-week low of $145.98 and a 52-week high of $238.59.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. Equities 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 share repurchase plan on Thursday, February 20th that authorizes the company to repurchase 60,000,000 shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts recently issued reports on FI shares. Royal Bank of Canada raised their target price on Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Citigroup lifted their target price on Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Oppenheimer increased their price target on shares of Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Keefe, Bruyette & Woods lifted their price objective on shares of Fiserv from $238.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Stephens increased their price objective 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. One investment analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Fiserv currently has a consensus rating of “Buy” and a consensus price target of $243.64.

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.