Davis R M Inc. Makes New Investment in Fiserv, Inc. (NYSE:FI)

Davis R M Inc. bought a new stake in Fiserv, Inc. (NYSE:FI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,083 shares of the business services provider’s stock, valued at approximately $428,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Marshall Investment Management LLC purchased a new position in Fiserv during the fourth quarter valued at approximately $29,000. Valley National Advisers Inc. purchased a new stake in Fiserv in the 4th quarter worth approximately $29,000. Compass Financial Services Inc purchased a new position in shares of Fiserv during the 4th quarter valued at $31,000. Kennebec Savings Bank purchased a new position in shares of Fiserv during the 3rd quarter valued at $40,000. Finally, Roxbury Financial LLC acquired a new position in shares of Fiserv in the fourth quarter worth $50,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on FI shares. Wells Fargo & Company lifted their price objective on Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Compass Point assumed coverage on Fiserv in a report on Wednesday, November 20th. They set a “buy” rating and a $278.00 price target for the company. Stephens increased their price objective on Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Citigroup lifted their target price on shares of Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Finally, BMO Capital Markets boosted their target price on shares of Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Fiserv has a consensus rating of “Moderate Buy” and an average price target of $239.83.

Fiserv Stock Performance

Shares of NYSE FI opened at $213.91 on Wednesday. Fiserv, Inc. has a 12 month low of $145.98 and a 12 month 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. The company has a market cap of $120.06 billion, a P/E ratio of 39.69, a P/E/G ratio of 1.52 and a beta of 0.93. The business’s 50 day moving average is $218.65 and its two-hundred day moving average is $204.00.

Fiserv (NYSE:FI) last announced its 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%. On average, equities analysts expect that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its Board of Directors has authorized a stock buyback program on Thursday, February 20th that permits the company to buyback 60,000,000 outstanding shares. This buyback authorization permits the business services provider to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $235.55, for a total transaction 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 trade represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.75% of the stock is owned by company insiders.

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.