Sei Investments Co. Purchases 350,627 Shares of Fiserv, Inc. (NYSE:FI)

Sei Investments Co. raised its position in shares of Fiserv, Inc. (NYSE:FI) by 57.6% in the fourth quarter, HoldingsChannel reports. The firm owned 959,157 shares of the business services provider’s stock after acquiring an additional 350,627 shares during the period. Sei Investments Co.’s holdings in Fiserv were worth $197,031,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of FI. Valley National Advisers Inc. bought a new position in shares of Fiserv in the 4th quarter worth $29,000. Marshall Investment Management LLC bought a new position in shares of Fiserv in the 4th quarter worth $29,000. Compass Financial Services Inc bought a new position in shares of Fiserv in the 4th quarter worth $31,000. Campbell Capital Management Inc. bought a new position in shares of Fiserv in the 4th quarter worth $37,000. Finally, Knuff & Co LLC bought a new position in shares of Fiserv in the 4th quarter worth $45,000. 90.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

FI has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Royal Bank of Canada boosted their target price on Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. The Goldman Sachs Group boosted their target price on Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Oppenheimer boosted their target price on Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, Stephens boosted their target price on Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Three equities 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 company. According to MarketBeat, Fiserv has an average rating of “Moderate Buy” and an average target price of $239.83.

Insider Transactions at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief operating officer now owns 227,711 shares of the company’s stock, 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 can be accessed through this hyperlink. Company insiders own 0.75% of the company’s stock.

Fiserv Stock Down 1.7 %

Shares of FI opened at $218.01 on Friday. Fiserv, Inc. has a 52 week low of $145.98 and a 52 week high of $238.59. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $122.37 billion, a price-to-earnings ratio of 40.45, a PEG ratio of 1.52 and a beta of 0.93. The stock’s 50-day moving average price is $220.46 and its 200-day moving average price is $206.01.

Fiserv (NYSE:FI) last issued its earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. On average, sell-side analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its board has authorized a share repurchase program 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. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

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.