Simmons Bank Increases Holdings in Fiserv, Inc. (NYSE:FI)

Simmons Bank raised its holdings in shares of Fiserv, Inc. (NYSE:FI) by 111.5% during the fourth quarter, Holdings Channel reports. The fund owned 2,751 shares of the business services provider’s stock after buying an additional 1,450 shares during the period. Simmons Bank’s holdings in Fiserv were worth $565,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in FI. Sanders Capital LLC bought a new stake in shares of Fiserv in the 3rd quarter valued at about $764,543,000. FMR LLC increased its stake in Fiserv by 17.8% in the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after purchasing an additional 1,427,664 shares during the period. Kovitz Investment Group Partners LLC boosted its stake in shares of Fiserv by 788.7% during the third quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock valued at $109,700,000 after purchasing an additional 561,377 shares during the period. Mizuho Securities USA LLC grew its holdings in shares of Fiserv by 1,238.6% in the third quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock worth $108,488,000 after purchasing an additional 558,774 shares during the last quarter. Finally, Cardano Risk Management B.V. bought a new position in shares of Fiserv in the fourth quarter worth approximately $97,254,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Stock Up 0.9 %

Shares of NYSE:FI opened at $231.85 on Friday. The stock has a fifty day simple moving average of $216.09 and a two-hundred day simple moving average of $200.29. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $130.13 billion, a price-to-earnings ratio of 43.01, a PEG ratio of 1.52 and a beta of 0.94. Fiserv, Inc. has a 12-month low of $145.98 and a 12-month high of $237.99.

Fiserv (NYSE:FI) last announced its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, beating 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, research analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 20th that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the sale, the chief operating officer now directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. This trade represents a 16.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.75% of the stock is owned by insiders.

Analyst Ratings Changes

FI has been the subject of several analyst reports. Oppenheimer increased their price target on shares of Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Compass Point assumed coverage on shares of Fiserv in a report on Wednesday, November 20th. They set a “buy” rating and a $278.00 target price for the company. BMO Capital Markets boosted their price target on Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Susquehanna increased their price objective on Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, February 10th. Finally, Wells Fargo & Company boosted their target price on Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Fiserv has a consensus rating of “Moderate Buy” and an average price target of $239.83.

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.