Alliancebernstein L.P. Buys 2,153,554 Shares of Fiserv, Inc. (NYSE:FI)

Alliancebernstein L.P. boosted its stake in Fiserv, Inc. (NYSE:FI) by 65.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,437,246 shares of the business services provider’s stock after acquiring an additional 2,153,554 shares during the period. Alliancebernstein L.P. owned 0.96% of Fiserv worth $1,116,919,000 at the end of the most recent quarter.

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

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of Fiserv 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 sale, the chief operating officer now owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. The trade was 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. 0.75% of the stock is owned by company insiders.

Fiserv Price Performance

Fiserv stock opened at $216.15 on Monday. Fiserv, Inc. has a 52 week low of $145.98 and a 52 week high of $238.59. The company’s 50 day moving average price is $222.00 and its two-hundred day moving average price is $208.17. The stock has a market cap of $121.32 billion, a P/E ratio of 40.10, a P/E/G ratio of 1.52 and a beta of 0.93. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86.

Fiserv (NYSE:FI) last issued its quarterly 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, equities analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv declared that its Board of Directors has approved a share repurchase plan on Thursday, February 20th that permits the company to buyback 60,000,000 outstanding shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group lifted their target price on Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. 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 boosted their target price on shares of Fiserv from $230.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, February 10th. Wells Fargo & Company raised their price target on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, KeyCorp upped their price objective on shares of Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $242.32.

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.