Mackenzie Financial Corp Purchases New Position in Fiserv, Inc. (NYSE:FI)

Mackenzie Financial Corp purchased a new stake in shares of Fiserv, Inc. (NYSE:FI) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 459,104 shares of the business services provider’s stock, valued at approximately $60,987,000. Mackenzie Financial Corp owned approximately 0.08% of Fiserv at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of FI. Vanguard Group Inc. purchased a new stake in Fiserv in the 3rd quarter worth approximately $5,705,241,000. Morgan Stanley increased its holdings in shares of Fiserv by 131.3% in the 4th quarter. Morgan Stanley now owns 9,980,646 shares of the business services provider’s stock worth $1,008,744,000 after buying an additional 5,666,145 shares during the last quarter. Norges Bank bought a new position in shares of Fiserv in the 4th quarter worth $547,079,000. Moneta Group Investment Advisors LLC increased its holdings in shares of Fiserv by 135,763.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,588,117 shares of the business services provider’s stock worth $463,721,000 after buying an additional 4,584,740 shares during the last quarter. Finally, Nordea Investment Management AB bought a new position in shares of Fiserv in the 4th quarter worth $351,525,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FI has been the topic of a number of research analyst reports. Robert W. Baird increased their price target on shares of Fiserv from $168.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. Mizuho reaffirmed a “buy” rating and set a $156.00 target price on shares of Fiserv in a report on Wednesday, March 27th. KeyCorp raised shares of Fiserv from a “sector weight” rating to an “overweight” rating and set a $180.00 target price on the stock in a report on Monday, January 8th. BNP Paribas raised shares of Fiserv from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 10th. Finally, Stephens increased their target price on shares of Fiserv from $140.00 to $150.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $158.21.

Fiserv Trading Down 1.2 %

Shares of NYSE FI opened at $146.40 on Wednesday. Fiserv, Inc. has a 1 year low of $109.11 and a 1 year high of $159.99. The stock has a market cap of $86.19 billion, a P/E ratio of 29.28, a price-to-earnings-growth ratio of 1.21 and a beta of 0.91. The firm has a 50-day moving average of $151.56 and a 200 day moving average of $135.95. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 1.04.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Tuesday, February 6th. The business services provider reported $2.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.04. Fiserv had a net margin of 16.07% and a return on equity of 15.16%. The company had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.68 billion. During the same period last year, the company posted $1.91 EPS. Fiserv’s revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts expect that Fiserv, Inc. will post 8.62 EPS for the current fiscal year.

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 63,646 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $154.00, for a total transaction of $9,801,484.00. Following the completion of the sale, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $25,209,646. 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 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.