Tocqueville Asset Management L.P. Buys 1,772 Shares of Fiserv, Inc. (NYSE:FI)

Tocqueville Asset Management L.P. raised its stake in Fiserv, Inc. (NYSE:FI) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,326 shares of the business services provider’s stock after acquiring an additional 1,772 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Fiserv were worth $11,981,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Empowered Funds LLC grew its position in shares of Fiserv by 7.2% during the 3rd quarter. Empowered Funds LLC now owns 9,328 shares of the business services provider’s stock worth $1,676,000 after purchasing an additional 626 shares in the last quarter. Claro Advisors LLC grew its position in shares of Fiserv by 3.3% during the 3rd quarter. Claro Advisors LLC now owns 2,088 shares of the business services provider’s stock worth $375,000 after purchasing an additional 66 shares in the last quarter. Quest Partners LLC grew its position in shares of Fiserv by 72,800.0% during the 3rd quarter. Quest Partners LLC now owns 729 shares of the business services provider’s stock worth $131,000 after purchasing an additional 728 shares in the last quarter. GLOBALT Investments LLC GA grew its position in shares of Fiserv by 2.5% during the 3rd quarter. GLOBALT Investments LLC GA now owns 12,785 shares of the business services provider’s stock worth $2,297,000 after purchasing an additional 306 shares in the last quarter. Finally, Capital City Trust Co. FL grew its position in shares of Fiserv by 2.4% during the 3rd quarter. Capital City Trust Co. FL now owns 27,582 shares of the business services provider’s stock worth $4,955,000 after purchasing an additional 636 shares in the last quarter. 90.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FI. The Goldman Sachs Group increased their target price on shares of Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Morgan Stanley increased their price target on shares of Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Royal Bank of Canada increased their price target on shares of Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Barclays increased their price target on shares of Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, Seaport Res Ptn upgraded shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Three investment 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. According to MarketBeat.com, Fiserv has a consensus rating of “Moderate Buy” and an average target price of $239.83.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the firm’s stock in a transaction on 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.75% of the company’s stock.

Fiserv Price Performance

Shares of NYSE FI opened at $218.05 on Tuesday. Fiserv, Inc. has a twelve month low of $145.98 and a twelve month high of $238.59. The firm has a fifty day simple moving average of $219.21 and a 200 day simple moving average of $205.19. The company has a market capitalization of $122.39 billion, a PE ratio of 40.45, a P/E/G ratio of 1.52 and a beta of 0.93. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. On average, sell-side analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current 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 shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are 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.