Rafferty Asset Management LLC Has $41.23 Million Holdings in Fiserv, Inc. (NYSE:FI)

Rafferty Asset Management LLC raised its position in Fiserv, Inc. (NYSE:FI) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 200,722 shares of the business services provider’s stock after acquiring an additional 5,541 shares during the period. Rafferty Asset Management LLC’s holdings in Fiserv were worth $41,232,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of FI. Raiffeisen Bank International AG acquired a new position in Fiserv in the fourth quarter valued at about $875,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Fiserv in the fourth quarter valued at $1,467,000. Point72 Europe London LLP acquired a new stake in shares of Fiserv during the fourth quarter worth $22,226,000. Polar Asset Management Partners Inc. bought a new position in Fiserv during the 4th quarter worth $26,705,000. Finally, ProShare Advisors LLC raised its position in Fiserv by 10.2% during the fourth quarter. ProShare Advisors LLC now owns 121,925 shares of the business services provider’s stock valued at $25,046,000 after purchasing an additional 11,269 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

FI has been the topic of a number of analyst reports. UBS Group reduced their price target on Fiserv from $265.00 to $255.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Barclays reduced their price target on shares of Fiserv from $265.00 to $230.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. StockNews.com initiated coverage on shares of Fiserv in a research note on Sunday, March 23rd. They issued a “buy” rating for the company. Susquehanna lowered their price target on Fiserv from $250.00 to $240.00 and set a “positive” rating on the stock in a report on Friday, April 25th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $268.00 price target (up from $267.00) on shares of Fiserv in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Fiserv presently has a consensus rating of “Moderate Buy” and a consensus price target of $230.00.

Fiserv Trading Down 0.6%

NYSE:FI opened at $189.76 on Thursday. The stock’s 50 day moving average price is $204.31 and its 200 day moving average price is $210.78. Fiserv, Inc. has a 52 week low of $146.25 and a 52 week high of $238.59. The company has a market capitalization of $105.21 billion, a P/E ratio of 35.21, a P/E/G ratio of 1.52 and a beta of 0.97. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06.

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

Fiserv declared that its board has approved a stock repurchase plan on Thursday, February 20th that permits the company to repurchase 60,000,000 outstanding shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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 completion of the transaction, 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.74% of the company’s stock.

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.