iA Global Asset Management Inc. Has $14.57 Million Stock Holdings in Fiserv, Inc. (NYSE:FI)

iA Global Asset Management Inc. lifted its holdings in Fiserv, Inc. (NYSE:FI) by 6.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 70,917 shares of the business services provider’s stock after acquiring an additional 4,209 shares during the quarter. iA Global Asset Management Inc.’s holdings in Fiserv were worth $14,568,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of FI. Empowered Funds LLC boosted its position in shares of Fiserv by 7.2% in the third quarter. Empowered Funds LLC now owns 9,328 shares of the business services provider’s stock worth $1,676,000 after buying an additional 626 shares during the period. Quest Partners LLC boosted its position in Fiserv by 72,800.0% during the third quarter. Quest Partners LLC now owns 729 shares of the business services provider’s stock valued at $131,000 after purchasing an additional 728 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Fiserv during the third quarter valued at $5,398,000. PNC Financial Services Group Inc. boosted its position in Fiserv by 9.1% during the third quarter. PNC Financial Services Group Inc. now owns 145,725 shares of the business services provider’s stock valued at $26,179,000 after purchasing an additional 12,119 shares during the last quarter. Finally, West Family Investments Inc. boosted its position in Fiserv by 10.5% during the third quarter. West Family Investments Inc. now owns 2,191 shares of the business services provider’s stock valued at $394,000 after purchasing an additional 209 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Stock Up 1.8 %

FI stock opened at $220.87 on Thursday. Fiserv, Inc. has a twelve month low of $145.98 and a twelve month high of $238.59. The company has a market cap of $123.97 billion, a PE ratio of 40.98, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The business’s 50-day simple moving average is $219.78 and its 200 day simple moving average is $205.59. 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 (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 return on equity of 17.93% and a net margin of 15.31%. On average, research analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current year.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Seaport Res Ptn raised Fiserv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. BMO Capital Markets lifted their price objective on Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. StockNews.com cut Fiserv from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Barclays lifted their price objective on Fiserv from $235.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, Citigroup raised their target price on Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Fiserv has an average rating of “Moderate Buy” and a consensus target price of $239.83.

Insider Buying and Selling

In related news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction dated 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 directly owns 227,711 shares of the company’s stock, valued at $53,637,326.05. This trade represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.75% of the stock is owned by company insiders.

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.