QRG Capital Management Inc. Raises Holdings in Fiserv, Inc. (NYSE:FI)

QRG Capital Management Inc. increased its position in Fiserv, Inc. (NYSE:FI) by 14.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 258,096 shares of the business services provider’s stock after buying an additional 32,581 shares during the quarter. QRG Capital Management Inc.’s holdings in Fiserv were worth $53,018,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Catalina Capital Group LLC grew its position in Fiserv by 2.3% during the 4th quarter. Catalina Capital Group LLC now owns 2,160 shares of the business services provider’s stock worth $444,000 after purchasing an additional 48 shares in the last quarter. Mount Yale Investment Advisors LLC grew its position in Fiserv by 1.2% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 4,126 shares of the business services provider’s stock worth $848,000 after purchasing an additional 50 shares in the last quarter. Hemington Wealth Management grew its position in Fiserv by 6.1% during the 4th quarter. Hemington Wealth Management now owns 864 shares of the business services provider’s stock worth $177,000 after purchasing an additional 50 shares in the last quarter. Wealthcare Advisory Partners LLC grew its position in Fiserv by 3.0% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 1,752 shares of the business services provider’s stock worth $360,000 after purchasing an additional 51 shares in the last quarter. Finally, Optas LLC grew its position in Fiserv by 1.7% during the 3rd quarter. Optas LLC now owns 3,216 shares of the business services provider’s stock worth $578,000 after purchasing an additional 54 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Stephens lifted their price objective 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. Keefe, Bruyette & Woods lifted their price objective on shares of Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company lifted their price objective on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Susquehanna lifted their target price on shares of Fiserv from $230.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, February 10th. Finally, KeyCorp lifted their target price on shares of Fiserv from $250.00 to $270.00 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 assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Fiserv currently has an average rating of “Moderate Buy” and an average price target of $239.83.

Insider Transactions at Fiserv

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 sale, the chief operating officer now owns 227,711 shares of the company’s stock, valued at $53,637,326.05. The trade was a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.75% of the company’s stock.

Fiserv Stock Down 1.2 %

Fiserv stock opened at $229.58 on Thursday. The firm has a market cap of $128.86 billion, a price-to-earnings ratio of 42.59, a P/E/G ratio of 1.52 and a beta of 0.94. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $237.99. The firm has a fifty day moving average price of $215.50 and a two-hundred day moving average price of $200.07.

Fiserv (NYSE:FI) last released its earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, topping 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%. As a group, analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv announced that its board has authorized a share buyback plan on Thursday, February 20th that allows the company to repurchase 60,000,000 outstanding shares. This repurchase authorization allows the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership 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.