LPL Financial LLC Grows Stock Position in Fiserv, Inc. (NYSE:FI)

LPL Financial LLC grew its position in shares of Fiserv, Inc. (NYSE:FI) by 28.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 504,684 shares of the business services provider’s stock after purchasing an additional 112,144 shares during the period. LPL Financial LLC owned approximately 0.09% of Fiserv worth $103,672,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Soros Capital Management LLC raised its position in shares of Fiserv by 71.7% in the 3rd quarter. Soros Capital Management LLC now owns 54,797 shares of the business services provider’s stock valued at $9,844,000 after purchasing an additional 22,884 shares in the last quarter. Czech National Bank increased its stake in shares of Fiserv by 5.2% in the fourth quarter. Czech National Bank now owns 123,353 shares of the business services provider’s stock worth $25,339,000 after buying an additional 6,072 shares during the last quarter. Chiron Investment Management LLC acquired a new stake in Fiserv in the third quarter valued at $4,709,000. Trust Co. of Vermont boosted its stake in Fiserv by 170.4% during the 4th quarter. Trust Co. of Vermont now owns 6,839 shares of the business services provider’s stock valued at $1,405,000 after acquiring an additional 4,310 shares during the last quarter. Finally, Cardano Risk Management B.V. acquired a new position in Fiserv during the 4th quarter worth $97,254,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Fiserv Stock Up 0.4 %

Shares of FI stock opened at $222.65 on Wednesday. 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 quick ratio of 1.07 and a current ratio of 1.06. The business’s fifty day moving average is $221.23 and its 200-day moving average is $207.18. The stock has a market cap of $124.97 billion, a PE ratio of 41.31, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

Fiserv (NYSE:FI) last released its earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. Equities analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its board has initiated a stock buyback program on Thursday, February 20th that authorizes the company to buyback 60,000,000 outstanding shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction 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 sale, the chief operating officer now directly 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 SEC, which is available at the SEC website. 0.75% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Royal Bank of Canada increased their price target on shares of Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Stephens lifted their target price on Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. StockNews.com downgraded Fiserv from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Wells Fargo & Company raised their price objective on Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, BMO Capital Markets boosted their target price on shares of Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Fiserv has a consensus 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.