Frank Rimerman Advisors LLC Has $1.83 Million Stock Position in Fiserv, Inc. (NYSE:FI)

Frank Rimerman Advisors LLC lifted its holdings in shares of Fiserv, Inc. (NYSE:FI) by 50.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,905 shares of the business services provider’s stock after purchasing an additional 2,993 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Fiserv were worth $1,829,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Soros Capital Management LLC grew its stake in Fiserv by 71.7% in the 3rd quarter. Soros Capital Management LLC now owns 54,797 shares of the business services provider’s stock valued at $9,844,000 after buying an additional 22,884 shares during the last quarter. Czech National Bank grew its stake in Fiserv by 5.2% in the 4th quarter. Czech National Bank now owns 123,353 shares of the business services provider’s stock valued at $25,339,000 after buying an additional 6,072 shares during the last quarter. Chiron Investment Management LLC acquired a new position in Fiserv in the 3rd quarter valued at $4,709,000. Trust Co. of Vermont grew its stake in Fiserv by 170.4% in the 4th quarter. Trust Co. of Vermont now owns 6,839 shares of the business services provider’s stock valued at $1,405,000 after buying an additional 4,310 shares during the last quarter. Finally, Cardano Risk Management B.V. acquired a new position in Fiserv in the 4th quarter valued at $97,254,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the business’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 completion of the transaction, the chief operating officer now directly owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.75% of the company’s stock.

Fiserv Trading Up 2.6 %

Shares of FI stock opened at $214.91 on Friday. Fiserv, Inc. has a 12-month low of $145.98 and a 12-month high of $238.59. The company has a market capitalization of $120.62 billion, a P/E ratio of 39.87, a P/E/G ratio of 1.52 and a beta of 0.93. The firm has a 50-day moving average price of $218.96 and a 200 day moving average price of $204.40. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, beating 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 forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its Board of Directors has authorized a share buyback program on Thursday, February 20th that authorizes the company to repurchase 60,000,000 shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FI shares. Wells Fargo & Company raised their target price on shares of Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. The Goldman Sachs Group raised their price target on shares of Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Oppenheimer raised their price target on shares of Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Seaport Res Ptn upgraded shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Finally, BMO Capital Markets raised their price target 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 equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Fiserv presently has a consensus rating of “Moderate Buy” and a consensus price target 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.