Bank of New York Mellon Corp Acquires 164,949 Shares of Fiserv, Inc. (NYSE:FI)

Bank of New York Mellon Corp raised its holdings in shares of Fiserv, Inc. (NYSE:FI) by 4.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,711,072 shares of the business services provider’s stock after buying an additional 164,949 shares during the period. Bank of New York Mellon Corp owned about 0.65% of Fiserv worth $762,328,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FI. Soros Capital Management LLC boosted its holdings in Fiserv by 71.7% during the 3rd quarter. Soros Capital Management LLC now owns 54,797 shares of the business services provider’s stock valued at $9,844,000 after acquiring an additional 22,884 shares during the period. Czech National Bank boosted its stake in shares of Fiserv by 5.2% during the fourth quarter. Czech National Bank now owns 123,353 shares of the business services provider’s stock valued at $25,339,000 after purchasing an additional 6,072 shares during the period. Chiron Investment Management LLC bought a new position in shares of Fiserv in the third quarter worth approximately $4,709,000. Trust Co. of Vermont increased its stake in shares of Fiserv by 170.4% in the fourth quarter. Trust Co. of Vermont now owns 6,839 shares of the business services provider’s stock worth $1,405,000 after buying an additional 4,310 shares during the period. Finally, Cardano Risk Management B.V. bought a new stake in Fiserv during the 4th quarter valued at $97,254,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer now directly owns 227,711 shares in the company, valued at $53,637,326.05. The trade was a 16.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.75% of the stock is currently owned by company insiders.

Fiserv Price Performance

FI stock opened at $232.34 on Wednesday. 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 has a market capitalization of $130.41 billion, a price-to-earnings ratio of 43.11, a PEG ratio of 1.52 and a beta of 0.94. The firm has a 50 day moving average price of $214.94 and a 200-day moving average price of $199.86. Fiserv, Inc. has a 52-week low of $145.98 and a 52-week high of $237.99.

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

Fiserv announced that its board has approved a share buyback program on Thursday, February 20th that allows the company to repurchase 60,000,000 shares. This repurchase authorization allows the business services provider to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have issued reports on FI. Citigroup raised their price target on shares of Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. The Goldman Sachs Group raised their target price on Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Oppenheimer boosted their price target on Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Stephens increased their price objective on Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, StockNews.com lowered Fiserv from a “buy” rating to a “hold” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Fiserv currently has an average rating of “Moderate Buy” and an average price target of $239.83.

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.