Prasad Wealth Partners LLC Invests $891,000 in Fiserv, Inc. (NYSE:FI)

Prasad Wealth Partners LLC purchased a new position in Fiserv, Inc. (NYSE:FI) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 4,337 shares of the business services provider’s stock, valued at approximately $891,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Marshall Investment Management LLC acquired a new position in shares of Fiserv during the 4th quarter valued at $29,000. Valley National Advisers Inc. acquired a new position in shares of Fiserv during the 4th quarter valued at $29,000. Compass Financial Services Inc acquired a new position in shares of Fiserv during the 4th quarter valued at $31,000. Kennebec Savings Bank acquired a new position in shares of Fiserv during the 3rd quarter valued at $40,000. Finally, Roxbury Financial LLC acquired a new position in shares of Fiserv during the 4th quarter valued at $50,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Royal Bank of Canada upped their target price on shares of Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. KeyCorp upped their target price on shares of Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Wells Fargo & Company upped their target price on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Compass Point initiated coverage on shares of Fiserv in a research note on Wednesday, November 20th. They issued a “buy” rating and a $278.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $239.83.

Fiserv Trading Down 0.2 %

Shares of Fiserv stock opened at $231.83 on Tuesday. Fiserv, Inc. has a 12-month low of $145.98 and a 12-month high of $237.99. The company has a market cap of $130.12 billion, a price-to-earnings ratio of 43.01, a PEG ratio of 1.52 and a beta of 0.94. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The company’s 50-day moving average price is $214.38 and its 200-day moving average price is $199.36.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

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

Insider Transactions at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the firm’s 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 directly owns 227,711 shares of the company’s stock, valued at $53,637,326.05. This trade represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.75% of the company’s stock.

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.