Ethic Inc. Boosts Stock Position in Fiserv, Inc. (NYSE:FI)

Ethic Inc. lifted its holdings in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 15.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,023 shares of the business services provider's stock after purchasing an additional 13,325 shares during the quarter. Ethic Inc.'s holdings in Fiserv were worth $20,958,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in Fiserv in the 4th quarter worth $1,406,452,000. Raymond James Financial Inc. purchased a new position in shares of Fiserv in the fourth quarter worth about $614,982,000. Kovitz Investment Group Partners LLC lifted its stake in shares of Fiserv by 343.7% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider's stock valued at $576,527,000 after acquiring an additional 2,174,025 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in 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. Finally, FMR LLC grew its position in Fiserv by 22.5% during the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider's stock worth $2,376,482,000 after acquiring an additional 2,126,419 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company's stock.

Fiserv Stock Performance

Shares of Fiserv stock traded up $2.70 during trading on Friday, hitting $184.09. 3,881,970 shares of the company's stock traded hands, compared to its average volume of 2,847,504. 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, Inc. has a 1 year low of $146.25 and a 1 year high of $238.59. The stock has a market capitalization of $102.07 billion, a P/E ratio of 34.15, a PEG ratio of 1.52 and a beta of 0.97. The business has a 50-day simple moving average of $206.23 and a 200-day simple moving average of $211.16.

Fiserv (NYSE:FI - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, beating the consensus estimate of $2.08 by $0.06. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The company had revenue of $4.79 billion for the quarter, compared to analysts' expectations of $4.86 billion. During the same period last year, the firm posted $1.88 earnings per share. Fiserv's revenue was up 5.1% compared to the same quarter last year. As a group, analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 20th that allows the company to buyback 60,000,000 shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.

Analyst Ratings Changes

FI has been the subject of several recent research reports. Redburn Atlantic reiterated a "sell" rating and issued a $150.00 price objective on shares of Fiserv in a research report on Thursday, April 17th. Seaport Res Ptn upgraded Fiserv from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 14th. Citigroup lowered their price objective on Fiserv from $267.00 to $240.00 and set a "buy" rating for the company in a research report on Friday, April 25th. StockNews.com began coverage on Fiserv in a research note on Sunday, March 23rd. They set a "buy" rating on the stock. Finally, Barclays reduced their target price on Fiserv from $265.00 to $230.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Two investment 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $230.00.

Insider Activity at Fiserv

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 transaction of $10,599,750.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.74% of the stock is currently owned by insiders.

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.