Tocqueville Asset Management L.P. Has $11.98 Million Stock Position in Fiserv, Inc. (NYSE:FI)

Tocqueville Asset Management L.P. grew its holdings in shares of Fiserv, Inc. (NYSE:FI) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,326 shares of the business services provider’s stock after buying an additional 1,772 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Fiserv were worth $11,981,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its holdings in Fiserv by 17.8% during the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after purchasing an additional 1,427,664 shares during the last quarter. Sanders Capital LLC purchased a new position in Fiserv during the third quarter worth about $764,543,000. Bank of New York Mellon Corp boosted its holdings in Fiserv by 4.7% during the fourth 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 purchasing an additional 164,949 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Fiserv by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,620,785 shares of the business services provider’s stock worth $743,782,000 after acquiring an additional 90,475 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Fiserv in the fourth quarter worth about $614,982,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Fiserv Price Performance

Shares of NYSE:FI opened at $218.05 on Tuesday. The company has a 50 day moving average of $219.21 and a 200 day moving average of $205.19. The stock has a market cap of $122.39 billion, a P/E ratio of 40.45, a P/E/G ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a 12 month low of $145.98 and a 12 month high of $238.59. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 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%. As a group, sell-side analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its board has approved 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 buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction that occurred on 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 owns 227,711 shares of the company’s stock, valued at $53,637,326.05. The trade was a 16.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on FI. Oppenheimer lifted their price objective 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. Wells Fargo & Company lifted their price objective on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Barclays lifted their price objective 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. Royal Bank of Canada lifted their price objective on shares of Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Seaport Res Ptn raised shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Three 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 stock. Based on data from MarketBeat.com, the company has a consensus 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.