Kayne Anderson Rudnick Investment Management LLC Boosts Stake in Fiserv, Inc. (NYSE:FI)

Kayne Anderson Rudnick Investment Management LLC raised its holdings in Fiserv, Inc. (NYSE:FI) by 8.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,719 shares of the business services provider’s stock after acquiring an additional 1,605 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Fiserv were worth $4,051,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC boosted its stake in shares of Fiserv by 3.0% during the 3rd quarter. Barclays PLC now owns 1,685,157 shares of the business services provider’s stock worth $302,737,000 after acquiring an additional 48,413 shares in the last quarter. Invst LLC acquired a new position in Fiserv during the third quarter worth $211,000. SkyView Investment Advisors LLC boosted its position in Fiserv by 4.4% during the third quarter. SkyView Investment Advisors LLC now owns 5,275 shares of the business services provider’s stock worth $948,000 after purchasing an additional 223 shares in the last quarter. Anchor Investment Management LLC grew its holdings in Fiserv by 1.4% in the third quarter. Anchor Investment Management LLC now owns 35,463 shares of the business services provider’s stock valued at $6,371,000 after purchasing an additional 497 shares during the last quarter. Finally, World Investment Advisors LLC grew its holdings in Fiserv by 1,469.7% in the third quarter. World Investment Advisors LLC now owns 55,802 shares of the business services provider’s stock valued at $10,025,000 after purchasing an additional 52,247 shares during the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FI has been the subject of several research reports. 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. Barclays lifted their target price on shares of Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Susquehanna lowered their price target on shares of Fiserv from $270.00 to $250.00 and set a “positive” rating on the stock in a research report on Tuesday, April 15th. Citigroup lifted their price objective on Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, Royal Bank of Canada increased their target price on Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $234.79.

Insider Transactions at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the completion of the sale, the chief operating officer now directly owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.75% of the company’s stock.

Fiserv Stock Down 0.3 %

Shares of FI opened at $207.93 on Tuesday. Fiserv, Inc. has a fifty-two week low of $146.25 and a fifty-two week high of $238.59. The company’s fifty day moving average is $218.91 and its two-hundred day moving average is $211.85. The firm has a market cap of $116.14 billion, a PE ratio of 38.58, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91. 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 posted its quarterly earnings results 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%. Analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv declared that its board has approved a stock repurchase program 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 programs are often a sign that the company’s board believes its stock is undervalued.

About Fiserv

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.