Fiserv, Inc. (NYSE:FI) Stake Lifted by M&T Bank Corp

M&T Bank Corp increased its stake in shares of Fiserv, Inc. (NYSE:FI) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,654 shares of the business services provider’s stock after buying an additional 1,194 shares during the quarter. M&T Bank Corp’s holdings in Fiserv were worth $29,099,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Jacobi Capital Management LLC grew its stake in Fiserv by 0.4% during the 4th quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider’s stock worth $2,281,000 after buying an additional 44 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Fiserv by 1.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider’s stock worth $841,000 after purchasing an additional 45 shares in the last quarter. Catalina Capital Group LLC increased its holdings in shares of Fiserv by 2.3% during the fourth quarter. Catalina Capital Group LLC now owns 2,160 shares of the business services provider’s stock valued at $444,000 after purchasing an additional 48 shares during the period. Mount Yale Investment Advisors LLC raised its stake in shares of Fiserv by 1.2% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 4,126 shares of the business services provider’s stock valued at $848,000 after purchasing an additional 50 shares in the last quarter. Finally, Hemington Wealth Management raised its stake in shares of Fiserv by 6.1% during the fourth quarter. Hemington Wealth Management now owns 864 shares of the business services provider’s stock valued at $177,000 after purchasing an additional 50 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction 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 in the company, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FI shares. Oppenheimer lifted their price objective on shares of Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Susquehanna upped their price target on shares of Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, February 10th. Stephens upped their price target 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. StockNews.com lowered shares of Fiserv from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Citigroup upped their price target on shares of Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Fiserv currently has an average rating of “Moderate Buy” and a consensus target price of $239.83.

Fiserv Price Performance

Shares of Fiserv stock opened at $226.07 on Thursday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $238.59. The firm has a fifty day moving average price of $217.92 and a two-hundred day moving average price of $202.41. The company has a market cap of $126.89 billion, a PE ratio of 41.94, 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, beating 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%. Analysts expect that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 20th that allows the company to repurchase 60,000,000 shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.