Envestnet Portfolio Solutions Inc. Boosts Holdings in Fiserv, Inc. (NYSE:FI)

Envestnet Portfolio Solutions Inc. grew its stake in shares of Fiserv, Inc. (NYSE:FI) by 20.3% in the fourth quarter, Holdings Channel reports. The firm owned 33,981 shares of the business services provider’s stock after acquiring an additional 5,727 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Fiserv were worth $6,980,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Marshall Investment Management LLC purchased a new stake in shares of Fiserv during the fourth quarter valued at $29,000. Valley National Advisers Inc. purchased a new stake in shares of Fiserv during the fourth quarter valued at $29,000. Compass Financial Services Inc purchased a new stake in shares of Fiserv during the fourth quarter valued at $31,000. Campbell Capital Management Inc. purchased a new stake in shares of Fiserv during the fourth quarter valued at $37,000. Finally, Knuff & Co LLC purchased a new stake in shares of Fiserv during the fourth quarter valued at $45,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Price Performance

Shares of NYSE:FI opened at $218.05 on Tuesday. Fiserv, Inc. has a twelve month low of $145.98 and a twelve month high of $238.59. The company’s 50 day moving average is $219.21 and its 200 day moving average is $205.19. 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 company has a market cap of $122.39 billion, a PE ratio of 40.45, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, topping 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%. On average, sell-side analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its board has approved a stock buyback program on Thursday, February 20th that authorizes the company to repurchase 60,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was 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 owns 227,711 shares in the company, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.75% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FI. Stephens upped their price objective on shares of Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Wells Fargo & Company upped their price objective on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Barclays upped 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. Keefe, Bruyette & Woods upped their price objective on shares of Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Compass Point began coverage on shares of Fiserv in a research note on Wednesday, November 20th. They issued a “buy” rating and a $278.00 price objective for the company. Three analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Fiserv currently has a consensus rating of “Moderate Buy” and an average target price of $239.83.

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.