Livforsakringsbolaget Skandia Omsesidigt Raises Stake in Fiserv, Inc. (NYSE:FI)

Livforsakringsbolaget Skandia Omsesidigt increased its stake in Fiserv, Inc. (NYSE:FI) by 120.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 49,671 shares of the business services provider’s stock after buying an additional 27,100 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Fiserv were worth $10,969,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vega Investment Solutions bought a new stake in Fiserv in the 4th quarter valued at about $25,000. Park Square Financial Group LLC bought a new stake in Fiserv in the 4th quarter valued at about $28,000. Marshall Investment Management LLC bought a new stake in Fiserv in the 4th quarter valued at about $29,000. Campbell Capital Management Inc. bought a new stake in Fiserv in the 4th quarter valued at about $37,000. Finally, Quarry LP raised its stake in Fiserv by 51.9% in the 4th quarter. Quarry LP now owns 205 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 70 shares during the period. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Stock Performance

NYSE:FI opened at $167.01 on Tuesday. The firm has a market cap of $92.59 billion, a PE ratio of 30.98, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. Fiserv, Inc. has a fifty-two week low of $146.25 and a fifty-two week high of $238.59. 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 business has a 50 day moving average price of $184.35 and a 200-day moving average price of $204.97.

Fiserv (NYSE:FI) last released its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.06. The firm had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.86 billion. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.88 earnings per share. 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 plan on Thursday, February 20th that allows the company to buyback 60,000,000 shares. This buyback authorization allows the business services provider to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently weighed in on FI. BMO Capital Markets decreased their price target on Fiserv from $254.00 to $232.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Morgan Stanley reiterated an “overweight” rating and set a $268.00 price target (up from $267.00) on shares of Fiserv in a research report on Friday, April 25th. JPMorgan Chase & Co. decreased their price target on Fiserv from $211.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, May 19th. Barclays decreased their price target on Fiserv from $265.00 to $230.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Finally, Wall Street Zen initiated coverage on Fiserv in a research report on Sunday, March 23rd. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Fiserv presently has an average rating of “Moderate Buy” and a consensus price target of $220.27.

Insider Activity

In related news, EVP Andrew Gelb sold 5,652 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total transaction of $904,320.00. Following the completion of the transaction, the executive vice president now owns 25,385 shares in the company, valued at $4,061,600. This represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total value of $403,628.16. Following the transaction, the insider now owns 53,385 shares of the company’s stock, valued at approximately $8,577,901.80. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.74% of the company’s stock.

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.