Meeder Asset Management Inc. Buys 1,163 Shares of Fiserv, Inc. (NYSE:FI)

Meeder Asset Management Inc. grew its stake in Fiserv, Inc. (NYSE:FI) by 635.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,346 shares of the business services provider’s stock after purchasing an additional 1,163 shares during the quarter. Meeder Asset Management Inc.’s holdings in Fiserv were worth $276,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Czech National Bank grew its position in Fiserv by 5.2% in the 4th quarter. Czech National Bank now owns 123,353 shares of the business services provider’s stock worth $25,339,000 after purchasing an additional 6,072 shares in the last quarter. Chiron Investment Management LLC purchased a new position in shares of Fiserv in the 3rd quarter worth approximately $4,709,000. Trust Co. of Vermont grew its holdings in shares of Fiserv by 170.4% in the fourth quarter. Trust Co. of Vermont now owns 6,839 shares of the business services provider’s stock valued at $1,405,000 after acquiring an additional 4,310 shares in the last quarter. Cardano Risk Management B.V. purchased a new stake in shares of Fiserv during the fourth quarter valued at approximately $97,254,000. Finally, M&T Bank Corp lifted its holdings in Fiserv by 12.0% during the third quarter. M&T Bank Corp now owns 140,460 shares of the business services provider’s stock worth $25,234,000 after acquiring an additional 15,103 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Stock Up 2.3 %

Shares of NYSE:FI opened at $221.19 on Tuesday. The company has a market cap of $124.15 billion, a price-to-earnings ratio of 41.04, a PEG ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a one year low of $145.98 and a one year high of $238.59. The firm has a fifty day moving average price of $222.25 and a two-hundred day moving average price of $208.51. 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 (NYSE:FI) last issued its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, beating 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%. Analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its board has initiated a share repurchase program on Thursday, February 20th that permits the company to repurchase 60,000,000 shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on FI shares. KeyCorp raised their target price on Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. BMO Capital Markets lifted their price objective on shares of Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. The Goldman Sachs Group increased their target price on shares of Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Morgan Stanley lifted their price target on shares of Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, Oppenheimer increased their price objective on Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Two 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’s stock. Based on data from MarketBeat, Fiserv has an average rating of “Buy” and an average price target of $242.32.

Insiders Place Their Bets

In other news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction on Thursday, February 20th. The shares were 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 directly 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 legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.75% of the company’s stock.

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.