Mystic Asset Management Inc. Acquires 2,380 Shares of Fiserv, Inc. (NYSE:FI)

Mystic Asset Management Inc. raised its holdings in shares of Fiserv, Inc. (NYSE:FI) by 49.0% in the fourth quarter, HoldingsChannel reports. The firm owned 7,235 shares of the business services provider’s stock after buying an additional 2,380 shares during the quarter. Mystic Asset Management Inc.’s holdings in Fiserv were worth $1,486,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Valley National Advisers Inc. purchased a new position in shares of Fiserv during the fourth quarter valued at approximately $29,000. Marshall Investment Management LLC bought a new stake in Fiserv in the fourth quarter valued at $29,000. Compass Financial Services Inc purchased a new position in Fiserv during the 4th quarter valued at $31,000. Campbell Capital Management Inc. bought a new position in Fiserv in the 4th quarter worth $37,000. Finally, Knuff & Co LLC purchased a new stake in shares of Fiserv in the 4th quarter worth about $45,000. Institutional investors own 90.98% of the company’s stock.

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 owns 227,711 shares in the company, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.75% of the stock is currently owned by corporate insiders.

Fiserv Trading Up 1.6 %

Shares of NYSE:FI opened at $218.05 on Tuesday. 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 1 year low of $145.98 and a 1 year high of $238.59. The company has a market cap of $122.39 billion, a P/E ratio of 40.45, a PEG ratio of 1.52 and a beta of 0.93. The stock’s fifty day moving average price is $219.21 and its 200-day moving average price is $205.19.

Fiserv (NYSE:FI) last posted its 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%. Sell-side analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv announced that its board has approved a stock buyback plan on Thursday, February 20th that allows the company to buyback 60,000,000 shares. This buyback authorization allows the business services provider to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. KeyCorp boosted their price target on shares of Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Wells Fargo & Company increased their target price on Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. BMO Capital Markets lifted their price target on Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Barclays increased their price objective on Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Royal Bank of Canada boosted their target price on shares of Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.