Nuveen Asset Management LLC Purchases 340,938 Shares of Fiserv, Inc. (NYSE:FI)

Nuveen Asset Management LLC raised its position in Fiserv, Inc. (NYSE:FI) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,936,554 shares of the business services provider’s stock after purchasing an additional 340,938 shares during the period. Nuveen Asset Management LLC’s holdings in Fiserv were worth $1,424,907,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Jacobi Capital Management LLC lifted its holdings in Fiserv by 0.4% during the fourth quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider’s stock worth $2,281,000 after acquiring an additional 44 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Fiserv by 1.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,862 shares of the business services provider’s stock worth $794,000 after acquiring an additional 44 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Fiserv by 1.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider’s stock worth $841,000 after acquiring an additional 45 shares in the last quarter. Catalina Capital Group LLC raised its holdings in shares of Fiserv by 2.3% in the fourth quarter. Catalina Capital Group LLC now owns 2,160 shares of the business services provider’s stock valued at $444,000 after purchasing an additional 48 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC lifted its position in shares of Fiserv by 1.2% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 4,126 shares of the business services provider’s stock worth $848,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on FI. Morgan Stanley reissued an “overweight” rating and set a $268.00 price target (up from $267.00) on shares of Fiserv in a research report on Friday, April 25th. Barclays dropped their target price on Fiserv from $265.00 to $230.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. UBS Group decreased their price target on Fiserv from $265.00 to $255.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Citigroup lowered their price target on Fiserv from $267.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Finally, Redburn Atlantic reissued a “sell” rating and issued a $150.00 price objective on shares of Fiserv in a report on Thursday, April 17th. Two investment 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 issued a strong buy rating to the company’s stock. According to MarketBeat, Fiserv currently has an average rating of “Moderate Buy” and a consensus target price of $230.00.

Insiders Place Their Bets

In related news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the sale, the chief operating officer now owns 227,711 shares of the company’s stock, valued at $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 SEC, which is available through the SEC website. Corporate insiders own 0.74% of the company’s stock.

Fiserv Stock Performance

NYSE:FI opened at $191.00 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The stock has a 50 day simple moving average of $204.87 and a 200 day simple moving average of $210.93. Fiserv, Inc. has a 1-year low of $146.25 and a 1-year high of $238.59. The stock has a market cap of $105.90 billion, a P/E ratio of 35.44, a PEG ratio of 1.52 and a beta of 0.97.

Fiserv (NYSE:FI) last posted its earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.06. The company had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.86 billion. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.88 earnings per share. Research analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current year.

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

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.