Pinebridge Investments L.P. Has $17.98 Million Position in Fiserv, Inc. (NYSE:FI)

Pinebridge Investments L.P. raised its holdings in Fiserv, Inc. (NYSE:FI) by 1,231.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 87,536 shares of the business services provider’s stock after acquiring an additional 80,960 shares during the period. Pinebridge Investments L.P.’s holdings in Fiserv were worth $17,982,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. Valley National Advisers Inc. acquired a new position in shares of Fiserv during the fourth quarter worth about $29,000. Marshall Investment Management LLC bought a new position in shares of Fiserv in the 4th quarter valued at about $29,000. Compass Financial Services Inc acquired a new position in shares of Fiserv during the 4th quarter worth approximately $31,000. Campbell Capital Management Inc. bought a new stake in Fiserv during the fourth quarter worth $37,000. Finally, Knuff & Co LLC acquired a new stake in Fiserv in the 4th quarter valued at about $45,000. 90.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on FI shares. The Goldman Sachs Group raised shares of Fiserv from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $246.00 to $260.00 in a research report on Wednesday, April 2nd. Barclays lifted their target price on shares of Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Royal Bank of Canada increased their price target on shares of Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Morgan Stanley upped their target price on Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, KeyCorp lifted their price target on Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.79.

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.75% of the company’s stock.

Fiserv Stock Up 1.5 %

FI stock opened at $217.42 on Thursday. The firm has a 50-day moving average price of $218.33 and a 200-day moving average price of $211.91. The stock has a market capitalization of $121.45 billion, a P/E ratio of 40.34, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91. Fiserv, Inc. has a 12 month low of $146.25 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 announced its quarterly earnings results 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 net margin of 15.31% and a return on equity of 17.93%. As a group, equities research analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its board has authorized a share 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 repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

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.