Geode Capital Management LLC Has $2.44 Billion Stock Holdings in Fiserv, Inc. (NYSE:FI)

Geode Capital Management LLC lifted its holdings in shares of Fiserv, Inc. (NYSE:FI) by 1.9% during the 4th quarter, Holdings Channel reports. The firm owned 11,891,207 shares of the business services provider’s stock after purchasing an additional 218,833 shares during the quarter. Geode Capital Management LLC’s holdings in Fiserv were worth $2,435,280,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Fiserv during the 4th quarter worth approximately $1,406,452,000. Alliancebernstein L.P. lifted its position in shares of Fiserv by 65.6% during the 4th quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock valued at $1,116,919,000 after acquiring an additional 2,153,554 shares during the period. Bank of New York Mellon Corp boosted its stake in Fiserv by 4.7% during the fourth quarter. Bank of New York Mellon Corp now owns 3,711,072 shares of the business services provider’s stock worth $762,328,000 after acquiring an additional 164,949 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Fiserv by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,620,785 shares of the business services provider’s stock worth $743,782,000 after purchasing an additional 90,475 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Fiserv in the fourth quarter valued at $614,982,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insider Transactions at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was 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 directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.75% of the stock is currently owned by company insiders.

Fiserv Trading Up 2.3 %

Shares of Fiserv stock opened at $221.19 on Tuesday. The firm has a market cap of $124.15 billion, a PE ratio of 41.04, a P/E/G ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a 1 year low of $145.98 and a 1 year high of $238.59. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The stock has a fifty day moving average price of $222.25 and a 200-day moving average price of $208.51.

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

Fiserv announced that its board has initiated a stock repurchase 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 typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company increased 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. BMO Capital Markets increased their price target on Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. The Goldman Sachs Group boosted their price objective on Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Citigroup increased their target price on Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Finally, Susquehanna boosted their price target 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. Two research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $242.32.

Fiserv 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.