Envestnet Portfolio Solutions Inc. Increases Stake in Fiserv, Inc. (NYSE:FI)

Envestnet Portfolio Solutions Inc. raised its stake in shares of Fiserv, Inc. (NYSE:FI) by 20.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 33,981 shares of the business services provider’s stock after acquiring an additional 5,727 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Fiserv were worth $6,980,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Valley National Advisers Inc. purchased a new stake in shares of Fiserv during the 4th quarter valued at about $29,000. Marshall Investment Management LLC purchased a new stake in shares of Fiserv during the 4th quarter valued at about $29,000. Compass Financial Services Inc purchased a new stake in shares of Fiserv during the 4th quarter valued at about $31,000. Campbell Capital Management Inc. purchased a new stake in shares of Fiserv during the 4th quarter valued at about $37,000. Finally, Knuff & Co LLC purchased a new stake in shares of Fiserv during the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Trading Up 1.6 %

Fiserv stock opened at $218.05 on Tuesday. The stock has a market cap of $122.39 billion, a P/E ratio of 40.45, a PEG ratio of 1.52 and a beta of 0.93. 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 $145.98 and a 1 year high of $238.59. The firm’s 50 day moving average price is $219.21 and its 200-day moving average price is $205.19.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. On average, equities analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its board has approved a stock repurchase program on Thursday, February 20th that permits the company to buyback 60,000,000 shares. This buyback authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FI. Oppenheimer raised their price target on shares of Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. The Goldman Sachs Group raised their price objective on shares of Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Susquehanna raised their price objective on shares of Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, February 10th. Keefe, Bruyette & Woods raised their price objective on shares of Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, KeyCorp raised their price objective on shares of Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $239.83.

Insider Buying and Selling

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of Fiserv 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 transaction, the chief operating officer now directly owns 227,711 shares of the company’s stock, valued at $53,637,326.05. The trade was a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.75% of the stock is currently owned by company 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.