Zions Bancorporation N.A. Boosts Stock Position in Fiserv, Inc. (NYSE:FI)

Zions Bancorporation N.A. boosted its stake in Fiserv, Inc. (NYSE:FI) by 201.5% during the 4th quarter, HoldingsChannel reports. The fund owned 2,141 shares of the business services provider’s stock after buying an additional 1,431 shares during the period. Zions Bancorporation N.A.’s holdings in Fiserv were worth $440,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of Fiserv by 17.8% during the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after purchasing an additional 1,427,664 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Fiserv by 4.7% in the 4th quarter. Bank of New York Mellon Corp now owns 3,711,072 shares of the business services provider’s stock worth $762,328,000 after acquiring an additional 164,949 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Fiserv by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,620,785 shares of the business services provider’s stock valued at $743,782,000 after acquiring an additional 90,475 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Fiserv during the 4th quarter valued at approximately $614,982,000. Finally, Barclays PLC raised its holdings in shares of Fiserv by 3.0% during the third quarter. Barclays PLC now owns 1,685,157 shares of the business services provider’s stock worth $302,737,000 after purchasing an additional 48,413 shares during the period. 90.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Citigroup boosted their price objective on shares of Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. StockNews.com downgraded Fiserv from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. KeyCorp upped their price objective on Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Susquehanna raised their target price on Fiserv from $230.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, February 10th. Finally, Morgan Stanley increased their price objective on shares of Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $242.32.

Fiserv Trading Down 0.4 %

Shares of FI stock opened at $221.75 on Thursday. The stock has a 50-day simple moving average of $221.58 and a 200 day simple moving average of $207.28. The stock has a market capitalization of $124.47 billion, a P/E ratio of 41.14, a P/E/G ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two 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.

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 the consensus estimate 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 earnings per share for the current fiscal year.

Fiserv declared that its Board of Directors has approved a stock repurchase program on Thursday, February 20th that permits the company to repurchase 60,000,000 shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction 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 completion of the transaction, the chief operating officer now owns 227,711 shares in the company, valued at $53,637,326.05. This trade represents a 16.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.75% of the stock is currently owned by company insiders.

About Fiserv

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.