Kornitzer Capital Management Inc. KS Invests $222,000 in Fiserv, Inc. (NYSE:FI)

Kornitzer Capital Management Inc. KS bought a new position in shares of Fiserv, Inc. (NYSE:FI) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,079 shares of the business services provider’s stock, valued at approximately $222,000.

Other institutional investors also recently modified their holdings of the company. Valley National Advisers Inc. purchased a new stake in shares of Fiserv during the fourth quarter worth about $29,000. Compass Financial Services Inc purchased a new stake in Fiserv in the fourth quarter worth about $31,000. Kennebec Savings Bank purchased a new stake in Fiserv in the third quarter worth about $40,000. Roxbury Financial LLC purchased a new stake in Fiserv in the fourth quarter worth about $50,000. Finally, Friedenthal Financial purchased a new stake in Fiserv in the fourth quarter worth about $49,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Fiserv Trading Down 0.1 %

Shares of FI stock opened at $236.13 on Thursday. Fiserv, Inc. has a 12-month low of $145.98 and a 12-month high of $237.13. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The firm’s 50 day moving average is $212.66 and its 200 day moving average is $197.48. The stock has a market capitalization of $134.34 billion, a P/E ratio of 43.81, a P/E/G ratio of 1.49 and a beta of 0.94.

Fiserv (NYSE:FI) last issued its earnings results 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%. Research analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FI has been the subject of several research analyst reports. Barclays raised their price objective on shares of Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Morgan Stanley raised 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. TD Cowen raised their price objective on shares of Fiserv from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. KeyCorp raised their price objective on shares of Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of Fiserv from $199.00 to $227.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “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.