BI Asset Management Fondsmaeglerselskab A S Boosts Holdings in Fiserv, Inc. (NYSE:FI)

BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Fiserv, Inc. (NYSE:FI) by 15.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 241,729 shares of the business services provider’s stock after acquiring an additional 32,421 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Fiserv were worth $49,656,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in FI. Geode Capital Management LLC raised its position in Fiserv by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 11,891,207 shares of the business services provider’s stock valued at $2,435,280,000 after purchasing an additional 218,833 shares during the period. FMR LLC increased its position in shares of Fiserv by 22.5% during the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider’s stock worth $2,376,482,000 after purchasing an additional 2,126,419 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Fiserv by 16.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,030,889 shares of the business services provider’s stock valued at $1,649,705,000 after buying an additional 1,121,597 shares during the period. Norges Bank acquired a new position in Fiserv in the fourth quarter valued at about $1,406,452,000. Finally, Alliancebernstein L.P. increased its position in shares of Fiserv by 65.6% during the fourth quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock valued at $1,116,919,000 after acquiring an additional 2,153,554 shares during the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Fiserv Stock Down 0.8 %

FI opened at $208.51 on Friday. Fiserv, Inc. has a one year low of $145.98 and a one 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. The stock has a market capitalization of $116.47 billion, a P/E ratio of 38.68, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91. The business’s 50-day simple moving average is $219.31 and its 200-day simple moving average is $211.30.

Fiserv (NYSE:FI) last released its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 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%. Analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current year.

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

Insider Buying and Selling

In other 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.75% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. StockNews.com began coverage on shares of Fiserv in a report on Sunday, March 23rd. They issued a “buy” rating on the stock. Susquehanna lowered their price target on Fiserv from $270.00 to $250.00 and set a “positive” rating for the company in a research report on Tuesday. Royal Bank of Canada lifted their price objective on Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Monness Crespi & Hardt cut Fiserv from a “neutral” rating to a “sell” rating and set a $145.00 target price for the company. in a report on Wednesday, April 9th. Finally, BMO Capital Markets lifted their target price on Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $234.79.

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.