Korea Investment CORP Lowers Position in Fiserv, Inc. (NYSE:FI)

Korea Investment CORP trimmed its position in shares of Fiserv, Inc. (NYSE:FI) by 12.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 496,594 shares of the business services provider’s stock after selling 69,278 shares during the quarter. Korea Investment CORP owned approximately 0.09% of Fiserv worth $102,010,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Morgan Stanley increased their price objective on shares of Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. BMO Capital Markets lifted their price objective on Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Royal Bank of Canada boosted their price objective on Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Keefe, Bruyette & Woods lifted their price target on Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Seaport Res Ptn raised Fiserv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Three analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $242.32.

Fiserv Trading Down 0.4 %

Shares of FI stock opened at $221.75 on Thursday. Fiserv, Inc. has a 1-year low of $145.98 and a 1-year high of $238.59. The firm has a market cap of $124.47 billion, a PE ratio of 41.14, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The company has a 50-day moving average of $221.58 and a two-hundred day moving average of $207.28. 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 (NYSE:FI) last posted its quarterly earnings data 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%. On average, analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its Board of Directors has approved a stock buyback plan on Thursday, February 20th that allows the company to repurchase 60,000,000 shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, COO Guy Chiarello sold 45,000 shares of the firm’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 owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. This trade represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.75% of the company’s stock.

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.