AGF Management Ltd. Purchases 17,225 Shares of Fiserv, Inc. (NYSE:FI)

AGF Management Ltd. boosted its stake in Fiserv, Inc. (NYSE:FI) by 19.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 104,653 shares of the business services provider’s stock after purchasing an additional 17,225 shares during the period. AGF Management Ltd.’s holdings in Fiserv were worth $21,498,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Valley National Advisers Inc. purchased a new position in shares of Fiserv during the 4th quarter worth $29,000. Marshall Investment Management LLC purchased a new position in shares of Fiserv during the 4th quarter valued at $29,000. Compass Financial Services Inc purchased a new position in shares of Fiserv during the 4th quarter valued at $31,000. Kennebec Savings Bank purchased a new position in shares of Fiserv during the 3rd quarter valued at $40,000. Finally, Friedenthal Financial bought a new stake in Fiserv in the 4th quarter valued at $49,000. Institutional investors own 90.98% of the company’s stock.

Fiserv Trading Down 0.3 %

Shares of Fiserv stock opened at $213.91 on Wednesday. The company has a 50-day moving average of $218.65 and a two-hundred day moving average of $204.00. The stock has a market cap of $120.06 billion, a PE ratio of 39.69, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a 12-month low of $145.98 and a 12-month high of $238.59. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86.

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

Fiserv declared that its board has approved a stock 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 reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

FI has been the subject of several research reports. Keefe, Bruyette & Woods increased their price objective on shares of Fiserv from $238.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Oppenheimer upped their price objective on Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. BMO Capital Markets increased their price target on Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Seaport Res Ptn raised shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Finally, Morgan Stanley increased their target price on shares of Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Three investment 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.83.

Insider Buying and Selling at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction dated 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 owns 227,711 shares of the company’s stock, valued at $53,637,326.05. This represents a 16.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.75% of the stock is owned by company insiders.

About Fiserv

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.