Mackenzie Financial Corp Has $81 Million Stock Position in Fiserv, Inc. (NYSE:FI)

Mackenzie Financial Corp raised its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 26.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 394,288 shares of the business services provider's stock after acquiring an additional 83,622 shares during the period. Mackenzie Financial Corp owned approximately 0.07% of Fiserv worth $80,995,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in shares of Fiserv by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 11,891,207 shares of the business services provider's stock worth $2,435,280,000 after acquiring an additional 218,833 shares during the period. FMR LLC boosted its holdings in shares of Fiserv by 22.5% during the fourth 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 period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Fiserv by 16.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,030,889 shares of the business services provider's stock worth $1,649,705,000 after acquiring an additional 1,121,597 shares during the period. Nuveen Asset Management LLC raised its position in shares of Fiserv by 5.2% in the fourth quarter. Nuveen Asset Management LLC now owns 6,936,554 shares of the business services provider's stock valued at $1,424,907,000 after buying an additional 340,938 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Fiserv in the fourth quarter valued at approximately $1,406,452,000. Institutional investors own 90.98% of the company's stock.

Insiders Place Their Bets

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total value of $904,320.00. Following the completion of the sale, the executive vice president now directly owns 25,385 shares in the company, valued at approximately $4,061,600. The trade was a 18.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total value of $403,628.16. Following the completion of the sale, the insider now owns 53,385 shares of the company's stock, valued at approximately $8,577,901.80. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.74% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FI. Keefe, Bruyette & Woods dropped their price target on shares of Fiserv from $240.00 to $200.00 and set an "outperform" rating for the company in a research report on Wednesday, May 21st. Monness Crespi & Hardt downgraded shares of Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 price target for the company. in a research report on Wednesday, April 9th. Piper Sandler set a $218.00 price target on shares of Fiserv in a research report on Friday, April 25th. Stephens lifted their price target on shares of Fiserv from $255.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Finally, KeyCorp lifted their price target on shares of Fiserv from $250.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Fiserv has an average rating of "Moderate Buy" and an average price target of $221.84.

Fiserv Trading Up 0.6%

Shares of Fiserv stock traded up $0.94 during trading on Friday, hitting $160.56. The company's stock had a trading volume of 2,417,071 shares, compared to its average volume of 3,134,216. 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 52 week low of $146.25 and a 52 week high of $238.59. The stock has a market cap of $89.02 billion, a price-to-earnings ratio of 29.77, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97. The stock has a 50-day moving average price of $192.34 and a two-hundred day moving average price of $207.55.

Fiserv (NYSE:FI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $4.86 billion. During the same quarter in the prior year, the firm posted $1.88 earnings per share. The business's quarterly revenue was up 5.1% compared to the same quarter last year. Equities research analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

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

Fiserv Company 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.