Kestra Investment Management LLC Acquires Shares of 242 Fiserv, Inc. (NYSE:FI)

Kestra Investment Management LLC acquired a new stake in Fiserv, Inc. (NYSE:FI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 242 shares of the business services provider’s stock, valued at approximately $50,000.

Other institutional investors also recently bought and sold shares of the company. Valley National Advisers Inc. purchased a new position in shares of Fiserv in the fourth quarter valued at approximately $29,000. Compass Financial Services Inc purchased a new position in shares of Fiserv in the fourth quarter valued at approximately $31,000. Kennebec Savings Bank purchased a new position in shares of Fiserv in the third quarter valued at approximately $40,000. Friedenthal Financial purchased a new position in shares of Fiserv in the fourth quarter valued at approximately $49,000. Finally, Eastern Bank purchased a new position in shares of Fiserv in the third quarter valued at approximately $50,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Fiserv Stock Down 0.8 %

Shares of NYSE FI opened at $232.47 on Friday. 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 $132.26 billion, a P/E ratio of 43.13, a P/E/G ratio of 1.53 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 stock has a fifty day moving average price of $213.81 and a 200 day moving average price of $198.28.

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, beating the consensus estimate of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. Research analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

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

Analyst Ratings Changes

Several research firms have recently weighed in on FI. Compass Point began coverage on Fiserv in a research report on Wednesday, November 20th. They issued a “buy” rating and a $278.00 target price on the stock. Tigress Financial raised their target price on Fiserv from $190.00 to $244.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. BMO Capital Markets raised their target price on Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods lifted their price objective on Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, KeyCorp lifted their price objective on Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $239.83.

Insider Activity

In other news, COO Guy Chiarello sold 45,000 shares of the firm’s stock in a transaction dated 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 directly owns 227,711 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.