Bank of New York Mellon Corp Increases Stock Position in Fiserv, Inc. (NYSE:FI)

Bank of New York Mellon Corp increased its stake in shares of Fiserv, Inc. (NYSE:FI) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,711,072 shares of the business services provider’s stock after purchasing an additional 164,949 shares during the period. Bank of New York Mellon Corp’s holdings in Fiserv were worth $762,328,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in FI. Valley National Advisers Inc. purchased a new position in Fiserv in the fourth quarter worth about $29,000. Marshall Investment Management LLC bought a new position in shares of Fiserv in the 4th quarter worth approximately $29,000. Compass Financial Services Inc purchased a new position in shares of Fiserv in the fourth quarter worth approximately $31,000. Kennebec Savings Bank purchased a new position in shares of Fiserv in the third quarter worth approximately $40,000. Finally, Friedenthal Financial bought a new stake in Fiserv during the fourth quarter valued at approximately $49,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on FI shares. Wells Fargo & Company increased their price target on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Royal Bank of Canada raised their target price on Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. The Goldman Sachs Group boosted their price target on Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Seaport Res Ptn upgraded Fiserv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Finally, KeyCorp lifted their price objective on Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Fiserv currently has a consensus rating of “Moderate Buy” and an average target price of $239.83.

Insider Activity at Fiserv

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

Fiserv Trading Up 0.1 %

Shares of Fiserv stock opened at $232.34 on Wednesday. Fiserv, Inc. has a twelve month low of $145.98 and a twelve month high of $237.99. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. The business has a 50-day moving average price of $214.94 and a 200-day moving average price of $199.86. The firm has a market cap of $130.41 billion, a price-to-earnings ratio of 43.11, a PEG ratio of 1.52 and a beta of 0.94.

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

Fiserv announced that its Board of Directors has initiated a share 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 purchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors 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.