PNC Financial Services Group Inc. Raises Position in Fiserv, Inc. (NYSE:FI)

PNC Financial Services Group Inc. increased its holdings in Fiserv, Inc. (NYSE:FI) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 149,671 shares of the business services provider’s stock after purchasing an additional 3,946 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Fiserv were worth $30,745,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Sanders Capital LLC purchased a new position in shares of Fiserv in the third quarter worth about $764,543,000. Raymond James Financial Inc. bought a new stake in Fiserv in the fourth quarter valued at approximately $614,982,000. FMR LLC lifted its position in Fiserv by 17.8% in the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after purchasing an additional 1,427,664 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its stake in shares of Fiserv by 788.7% during the third quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock valued at $109,700,000 after purchasing an additional 561,377 shares during the period. Finally, Mizuho Securities USA LLC grew its holdings in shares of Fiserv by 1,238.6% in the third quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock worth $108,488,000 after purchasing an additional 558,774 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Trading Down 0.9 %

Fiserv stock opened at $218.04 on Monday. The company has a market capitalization of $122.38 billion, a price-to-earnings ratio of 40.45, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The business’s fifty day simple moving average is $218.31 and its two-hundred day simple moving average is $203.37. Fiserv, Inc. has a 12 month low of $145.98 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 released its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its board has authorized a stock buyback program on Thursday, February 20th that allows the company to repurchase 60,000,000 outstanding shares. This repurchase authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $235.55, for a total value of $10,599,750.00. Following the transaction, the chief operating officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on FI. Compass Point started coverage on shares of Fiserv in a report on Wednesday, November 20th. They set a “buy” rating and a $278.00 price target for the company. StockNews.com lowered shares of Fiserv from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. The Goldman Sachs Group boosted their price target on Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Seaport Res Ptn raised Fiserv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Finally, Stephens lifted their price objective on Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $239.83.

Fiserv 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.