Resona Asset Management Co. Ltd. Takes $36.30 Million Position in Fiserv, Inc. (NYSE:FI)

Resona Asset Management Co. Ltd. acquired a new position in shares of Fiserv, Inc. (NYSE:FI) in the 4th quarter, HoldingsChannel reports. The firm acquired 176,379 shares of the business services provider’s stock, valued at approximately $36,296,000.

A number of other institutional investors also recently bought and sold shares of FI. Marshall Investment Management LLC acquired a new stake in shares of Fiserv during the 4th quarter worth approximately $29,000. Valley National Advisers Inc. purchased a new stake in Fiserv in the fourth quarter valued at $29,000. Compass Financial Services Inc purchased a new position in shares of Fiserv during the 4th quarter worth $31,000. Campbell Capital Management Inc. purchased a new position in shares of Fiserv during the 4th quarter worth $37,000. Finally, Knuff & Co LLC purchased a new stake in Fiserv in the 4th quarter valued at about $45,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Stock Down 8.4 %

Shares of FI opened at $198.77 on Friday. 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 firm has a market cap of $111.57 billion, a PE ratio of 36.88, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91. The company’s fifty day moving average is $222.85 and its two-hundred day moving average is $209.18. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $238.59.

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, topping 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%. Analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv declared that its board has authorized a share repurchase plan 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. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Susquehanna increased their target price on shares of Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, February 10th. Keefe, Bruyette & Woods increased their price objective on shares of Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Morgan Stanley upped their price target on Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. The Goldman Sachs Group raised Fiserv from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $246.00 to $260.00 in a research note on Wednesday. Finally, Citigroup lifted their target price on Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. One analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Fiserv has a consensus rating of “Buy” and an average target price of $243.64.

Insider Activity at Fiserv

In other news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were 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 directly owns 227,711 shares in the company, valued at approximately $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 can be accessed through this link. Company 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.