Fiserv, Inc. (NYSE:FI) Shares Purchased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 407,445 shares of the business services provider's stock after acquiring an additional 12,615 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.07% of Fiserv worth $83,697,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of FI. Barclays PLC increased its position in shares of Fiserv by 3.0% during the third 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 during the period. Wealthcare Advisory Partners LLC increased its position in shares of Fiserv by 3.0% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 1,752 shares of the business services provider's stock worth $360,000 after acquiring an additional 51 shares during the period. Wedge Capital Management L L P NC purchased a new stake in shares of Fiserv during the fourth quarter worth $204,000. Grove Bank & Trust increased its position in shares of Fiserv by 226.7% during the fourth quarter. Grove Bank & Trust now owns 379 shares of the business services provider's stock worth $78,000 after acquiring an additional 263 shares during the period. Finally, LaFleur & Godfrey LLC increased its position in shares of Fiserv by 0.4% during the fourth quarter. LaFleur & Godfrey LLC now owns 18,116 shares of the business services provider's stock worth $3,721,000 after acquiring an additional 75 shares during the period. Hedge funds and other institutional investors own 90.98% of the company's stock.

Fiserv Stock Performance

Shares of FI traded down $2.32 during mid-day trading on Friday, hitting $159.02. 8,355,681 shares of the company's stock were exchanged, compared to its average volume of 3,069,789. Fiserv, Inc. has a fifty-two week low of $146.25 and a fifty-two week high of $238.59. The firm has a market capitalization of $88.17 billion, a P/E ratio of 29.50, a P/E/G ratio of 1.52 and a beta of 0.97. The business's 50 day moving average is $197.21 and its two-hundred day moving average is $208.97. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86.

Fiserv (NYSE:FI - Get Free Report) last announced its earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.06. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The business had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the prior year, the firm earned $1.88 earnings per share. The business's quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities analysts expect 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 buyback plan on Thursday, February 20th that permits the company to repurchase 60,000,000 shares. This repurchase authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts recently commented on FI shares. Barclays dropped their target price on Fiserv from $265.00 to $230.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Royal Bank of Canada set a $237.00 target price on Fiserv in a report on Friday, April 25th. UBS Group dropped their target price on Fiserv from $265.00 to $255.00 and set a "buy" rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. dropped their target price on Fiserv from $211.00 to $210.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Finally, Wells Fargo & Company increased their target price on Fiserv from $240.00 to $270.00 and gave the company an "overweight" 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 assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Fiserv presently has an average rating of "Moderate Buy" and an average target price of $224.20.

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.