Signature Wealth Management Group Increases Stock Position in Fiserv, Inc. (NYSE:FI)

Signature Wealth Management Group boosted its stake in shares of Fiserv, Inc. (NYSE:FI) by 3.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,441 shares of the business services provider’s stock after acquiring an additional 377 shares during the quarter. Signature Wealth Management Group’s holdings in Fiserv were worth $2,350,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Jacobi Capital Management LLC boosted its stake in shares of Fiserv by 0.4% in the fourth quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider’s stock valued at $2,281,000 after purchasing an additional 44 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of Fiserv by 1.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider’s stock valued at $841,000 after purchasing an additional 45 shares during the period. Catalina Capital Group LLC boosted its stake 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 period. Mount Yale Investment Advisors LLC boosted its stake 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 valued at $848,000 after purchasing an additional 50 shares during the period. Finally, Hemington Wealth Management raised its holdings in Fiserv by 6.1% in the fourth quarter. Hemington Wealth Management now owns 864 shares of the business services provider’s stock valued at $177,000 after acquiring an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of Fiserv from $238.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company raised their target price on shares of Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Seaport Res Ptn raised shares of Fiserv from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Susquehanna raised their price objective on shares of Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, February 10th. Finally, BMO Capital Markets raised their price objective on shares of Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a 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 given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $239.83.

Fiserv Stock Performance

NYSE:FI opened at $214.91 on Friday. The firm’s fifty day moving average price is $218.96 and its 200 day moving average price is $204.64. Fiserv, Inc. has a 1-year low of $145.98 and a 1-year high of $238.59. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The firm has a market cap of $120.62 billion, a price-to-earnings ratio of 39.87, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. On average, sell-side analysts expect that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its board has initiated a stock repurchase program on Thursday, February 20th that permits the company to buyback 60,000,000 shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were 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 directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.75% 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.