Edgemoor Investment Advisors Inc. Has $8.60 Million Stock Holdings in Fiserv, Inc. (NYSE:FI)

Edgemoor Investment Advisors Inc. lifted its holdings in shares of Fiserv, Inc. (NYSE:FI) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,887 shares of the business services provider’s stock after buying an additional 733 shares during the period. Edgemoor Investment Advisors Inc.’s holdings in Fiserv were worth $8,604,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. FMR LLC boosted its stake in shares of Fiserv by 17.8% during the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after buying an additional 1,427,664 shares during the last quarter. Sanders Capital LLC acquired a new position in shares of Fiserv during the 3rd quarter worth about $764,543,000. Bank of New York Mellon Corp boosted its stake in shares of Fiserv by 4.7% during the 4th quarter. Bank of New York Mellon Corp now owns 3,711,072 shares of the business services provider’s stock worth $762,328,000 after buying an additional 164,949 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Fiserv by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,620,785 shares of the business services provider’s stock worth $743,782,000 after buying an additional 90,475 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Fiserv during the 4th quarter worth about $614,982,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Stock Performance

FI opened at $214.91 on Monday. The firm has a market cap of $120.62 billion, a P/E ratio of 39.87, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a 52-week low of $145.98 and a 52-week high of $238.59. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. The business’s fifty day moving average is $218.96 and its 200-day moving average is $204.87.

Fiserv (NYSE:FI) last released 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 return on equity of 17.93% and a net margin of 15.31%. Sell-side analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 20th that allows the company to buyback 60,000,000 shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief operating officer now directly owns 227,711 shares in the company, valued at $53,637,326.05. This represents a 16.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.75% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FI shares. Barclays increased their price objective on shares of Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. KeyCorp raised their target price on shares of Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Citigroup raised 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. Seaport Res Ptn upgraded shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Finally, BMO Capital Markets raised their target price 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. Three investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Fiserv has an average rating of “Moderate Buy” and an average price target of $239.83.

Fiserv 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.