Midwest Capital Advisors LLC Takes $50,000 Position in Fiserv, Inc. (NYSE:FI)

Midwest Capital Advisors LLC acquired a new position in Fiserv, Inc. (NYSE:FI) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 244 shares of the business services provider’s stock, valued at approximately $50,000.

Several other institutional investors also recently modified their holdings of FI. Eastern Bank purchased a new stake in shares of Fiserv during the 3rd quarter valued at $50,000. Hennion & Walsh Asset Management Inc. raised its position in Fiserv by 46.4% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,867 shares of the business services provider’s stock valued at $874,000 after purchasing an additional 1,542 shares in the last quarter. Allworth Financial LP raised its position in Fiserv by 11.9% during the third quarter. Allworth Financial LP now owns 4,808 shares of the business services provider’s stock valued at $864,000 after purchasing an additional 510 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Fiserv by 16.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 55,801 shares of the business services provider’s stock worth $10,025,000 after purchasing an additional 7,817 shares during the last quarter. Finally, PFG Investments LLC boosted its holdings in shares of Fiserv by 2.7% in the 3rd quarter. PFG Investments LLC now owns 2,807 shares of the business services provider’s stock worth $504,000 after purchasing an additional 73 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction dated 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FI. Wells Fargo & Company raised their price objective on Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Tigress Financial lifted their price target on shares of Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. BMO Capital Markets upped their price objective 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. Barclays lifted their target price on shares of Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, Susquehanna boosted their price target 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. Two equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $239.83.

Fiserv Stock Down 0.8 %

Shares of NYSE FI opened at $232.47 on Monday. The firm has a fifty day simple moving average of $213.81 and a two-hundred day simple moving average of $198.86. Fiserv, Inc. has a 12 month low of $145.98 and a 12 month high of $237.99. 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 has a market capitalization of $132.26 billion, a PE ratio of 43.13, a price-to-earnings-growth ratio of 1.52 and a beta of 0.94.

Fiserv (NYSE:FI) last released its quarterly 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 net margin of 15.31% and a return on equity of 17.93%. Equities analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv declared that its Board of Directors has authorized a share buyback plan on Thursday, February 20th that allows the company to buyback 60,000,000 shares. This buyback authorization allows the business services provider to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

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.