Freedom Investment Management Inc. Has $1.35 Million Position in Fiserv, Inc. (NYSE:FI)

Freedom Investment Management Inc. raised its holdings in Fiserv, Inc. (NYSE:FI) by 13.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,559 shares of the business services provider’s stock after acquiring an additional 757 shares during the quarter. Freedom Investment Management Inc.’s holdings in Fiserv were worth $1,347,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in FI. Norges Bank bought a new position in shares of Fiserv in the fourth quarter valued at approximately $1,406,452,000. Raymond James Financial Inc. acquired a new position in Fiserv in the 4th quarter valued at $614,982,000. Alliancebernstein L.P. raised its holdings in Fiserv by 65.6% in the 4th quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock worth $1,116,919,000 after acquiring an additional 2,153,554 shares during the period. FMR LLC lifted its position in Fiserv by 22.5% during the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider’s stock worth $2,376,482,000 after acquiring an additional 2,126,419 shares during the last quarter. Finally, Winslow Capital Management LLC bought a new stake in Fiserv during the fourth quarter valued at about $363,031,000. 90.98% of the stock is owned by institutional investors.

Insider Activity at Fiserv

In other news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction on 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 sale, the chief operating officer now owns 227,711 shares in the company, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FI shares. StockNews.com assumed coverage on Fiserv in a research report on Sunday, March 23rd. They set a “buy” rating for the company. Barclays upped their price target on Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Seaport Res Ptn upgraded shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Royal Bank of Canada upped their target price on shares of Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Stephens raised their price target on shares of Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Fiserv presently has an average rating of “Moderate Buy” and a consensus price target of $234.79.

Fiserv Stock Down 0.8 %

FI opened at $208.51 on Friday. The firm has a market cap of $116.47 billion, a price-to-earnings ratio of 38.68, a PEG ratio of 1.52 and a beta of 0.91. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. The firm’s 50-day simple moving average is $219.31 and its 200-day simple moving average is $211.30. Fiserv, Inc. has a twelve month low of $145.98 and a twelve month high of $238.59.

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

Fiserv announced that its board has authorized a stock repurchase plan on Thursday, February 20th that authorizes the company to repurchase 60,000,000 shares. This repurchase authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.