Ashton Thomas Securities LLC Purchases 608 Shares of Fiserv, Inc. (NYSE:FI)

Ashton Thomas Securities LLC boosted its position in Fiserv, Inc. (NYSE:FI) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 27,867 shares of the business services provider’s stock after buying an additional 608 shares during the quarter. Fiserv makes up 1.6% of Ashton Thomas Securities LLC’s portfolio, making the stock its 13th biggest position. Ashton Thomas Securities LLC’s holdings in Fiserv were worth $5,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Sanders Capital LLC bought a new position in shares of Fiserv in the 3rd quarter valued at $764,543,000. Raymond James Financial Inc. acquired a new stake in Fiserv in the fourth quarter valued at about $614,982,000. FMR LLC grew 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 acquiring an additional 1,427,664 shares during the last quarter. Madison Investment Advisors LLC acquired a new position in Fiserv during the fourth quarter worth about $134,710,000. Finally, Kovitz Investment Group Partners LLC lifted its holdings in shares of Fiserv by 788.7% in the third quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock worth $109,700,000 after acquiring an additional 561,377 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Fiserv

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 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 $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 Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is currently owned by corporate insiders.

Fiserv Stock Performance

Shares of NYSE:FI opened at $221.90 on Tuesday. The firm has a fifty day simple moving average of $220.87 and a two-hundred day simple moving average of $206.81. Fiserv, Inc. has a 52 week low of $145.98 and a 52 week high of $238.59. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $124.55 billion, a P/E ratio of 41.17, a PEG ratio of 1.52 and a beta of 0.93.

Fiserv (NYSE:FI) last released its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share 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%. On average, analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its Board of Directors has initiated a share buyback plan on Thursday, February 20th that authorizes the company to repurchase 60,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FI shares. Stephens boosted their target price on shares of Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. The Goldman Sachs Group lifted their price target on Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Seaport Res Ptn raised Fiserv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Wells Fargo & Company lifted their target price on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Fiserv from $238.00 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Fiserv currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.83.

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.