Taikang Asset Management Hong Kong Co Ltd Acquires 300 Shares of Fiserv, Inc. (NYSE:FI)

Taikang Asset Management Hong Kong Co Ltd grew its holdings in shares of Fiserv, Inc. (NYSE:FI) by 1.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 22,300 shares of the business services provider’s stock after purchasing an additional 300 shares during the period. Taikang Asset Management Hong Kong Co Ltd’s holdings in Fiserv were worth $4,581,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of FI. FMR LLC raised its position in Fiserv by 17.8% during the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after acquiring an additional 1,427,664 shares in the last quarter. Sanders Capital LLC bought a new stake in shares of Fiserv in the 3rd quarter valued at about $764,543,000. Bank of New York Mellon Corp lifted its stake in Fiserv by 4.7% in the 4th quarter. Bank of New York Mellon Corp now owns 3,711,072 shares of the business services provider’s stock valued at $762,328,000 after purchasing an additional 164,949 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Fiserv by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,620,785 shares of the business services provider’s stock worth $743,782,000 after purchasing an additional 90,475 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Fiserv during the fourth quarter worth approximately $614,982,000. Institutional investors own 90.98% of the company’s stock.

Insider Activity at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $235.55, for a total value of $10,599,750.00. Following the completion of the transaction, the chief operating officer now directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. This trade represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.75% of the stock is currently owned by company insiders.

Fiserv Stock Performance

Fiserv stock opened at $221.90 on Tuesday. The stock has a market cap of $124.55 billion, a PE ratio of 41.17, 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, Inc. has a 12-month low of $145.98 and a 12-month high of $238.59. The business’s 50-day moving average price is $220.87 and its two-hundred day moving average price is $206.81.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, beating the consensus estimate of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. As a group, analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its board has approved a stock repurchase program on Thursday, February 20th that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FI. Morgan Stanley raised their price target on Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. KeyCorp lifted their target price on shares of Fiserv from $250.00 to $270.00 and gave the stock an “overweight” 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 report on Tuesday, January 14th. Keefe, Bruyette & Woods boosted their price objective on Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, The Goldman Sachs Group increased their target price on Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Three research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $239.83.

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.