Summit Global Investments Boosts Stock Holdings in Fiserv, Inc. (NYSE:FI)

Summit Global Investments raised its holdings in shares of Fiserv, Inc. (NYSE:FI) by 107.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,817 shares of the business services provider’s stock after acquiring an additional 1,459 shares during the quarter. Summit Global Investments’ holdings in Fiserv were worth $579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Valley National Advisers Inc. bought a new stake in shares of Fiserv during the 4th quarter valued at $29,000. Marshall Investment Management LLC bought a new stake in shares of Fiserv during the fourth quarter valued at about $29,000. Compass Financial Services Inc bought a new stake in shares of Fiserv during the fourth quarter valued at about $31,000. Campbell Capital Management Inc. purchased a new stake in shares of Fiserv in the fourth quarter worth about $37,000. Finally, Knuff & Co LLC bought a new position in shares of Fiserv in the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insider Transactions at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief operating officer now owns 227,711 shares in the company, valued at approximately $53,637,326.05. This trade represents a 16.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.75% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

FI has been the topic of several recent analyst reports. The Goldman Sachs Group increased their target price on shares of Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Morgan Stanley raised their price target on shares of Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Wells Fargo & Company boosted their target price on Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Oppenheimer boosted their target price on Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Finally, Barclays boosted their price objective on Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Three research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $239.83.

Fiserv Trading Down 1.7 %

Shares of FI stock opened at $218.01 on Monday. The stock has a market capitalization of $122.37 billion, a PE ratio of 40.45, 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 business has a 50-day moving average of $220.46 and a 200 day moving average of $206.46.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, beating the consensus estimate 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, sell-side analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv announced that its Board of Directors has approved a share repurchase 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 usually a sign that the company’s leadership believes its stock is undervalued.

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.