Ethic Inc. Boosts Stock Holdings in Fiserv, Inc. (NYSE:FI)

Ethic Inc. increased its position in Fiserv, Inc. (NYSE:FI) by 15.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 102,023 shares of the business services provider’s stock after acquiring an additional 13,325 shares during the period. Ethic Inc.’s holdings in Fiserv were worth $20,958,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Marshall Investment Management LLC purchased a new position in Fiserv in the 4th quarter worth about $29,000. Valley National Advisers Inc. purchased a new position in shares of Fiserv during the fourth quarter valued at approximately $29,000. Compass Financial Services Inc bought a new position in Fiserv during the fourth quarter valued at approximately $31,000. Campbell Capital Management Inc. purchased a new stake in Fiserv in the fourth quarter worth approximately $37,000. Finally, Quarry LP grew its position in Fiserv by 51.9% in the 4th quarter. Quarry LP now owns 205 shares of the business services provider’s stock worth $42,000 after purchasing an additional 70 shares during the period. 90.98% of the stock is owned by institutional investors.

Fiserv Stock Down 0.4 %

Shares of NYSE:FI opened at $181.38 on Friday. The company has a market cap of $100.56 billion, a price-to-earnings ratio of 33.65, a PEG ratio of 1.52 and a beta of 0.97. Fiserv, Inc. has a 12 month low of $146.25 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. The company has a 50-day moving average price of $207.03 and a 200 day moving average price of $211.15.

Fiserv (NYSE:FI) last announced its earnings results on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.06. The firm had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.86 billion. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.88 EPS. As a group, equities research analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv declared that its Board of Directors has approved a share repurchase program on Thursday, February 20th that allows the company to repurchase 60,000,000 shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FI. Wells Fargo & Company raised their price target on Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Morgan Stanley restated an “overweight” rating and set a $268.00 price target (up from $267.00) on shares of Fiserv in a research note on Friday, April 25th. Royal Bank of Canada set a $237.00 price target on shares of Fiserv in a research report on Friday, April 25th. The Goldman Sachs Group raised shares of Fiserv from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $246.00 to $260.00 in a report on Wednesday, April 2nd. Finally, StockNews.com began coverage on shares of Fiserv in a report on Sunday, March 23rd. They set a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Fiserv currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.00.

Insider Buying and Selling

In related news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 227,711 shares of the company’s stock, valued at $53,637,326.05. This represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.74% of the stock is currently owned by 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.