Desjardins Global Asset Management Inc. Invests $2.08 Million in Fiserv, Inc. (NYSE:FI)

Desjardins Global Asset Management Inc. bought a new position in shares of Fiserv, Inc. (NYSE:FI) during the fourth quarter, Holdings Channel reports. The fund bought 15,671 shares of the business services provider’s stock, valued at approximately $2,082,000.

Other hedge funds have also modified their holdings of the company. AMI Investment Management Inc. lifted its stake in Fiserv by 33.6% in the 1st quarter. AMI Investment Management Inc. now owns 27,999 shares of the business services provider’s stock worth $2,839,000 after acquiring an additional 7,047 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Fiserv by 10.4% during the first quarter. American Century Companies Inc. now owns 9,227 shares of the business services provider’s stock worth $936,000 after buying an additional 870 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Fiserv by 158.2% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 963 shares of the business services provider’s stock valued at $98,000 after acquiring an additional 590 shares during the period. Prudential PLC acquired a new position in Fiserv during the 1st quarter valued at $1,095,000. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Fiserv during the 1st quarter worth about $357,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Stock Performance

Shares of Fiserv stock opened at $146.40 on Wednesday. Fiserv, Inc. has a 52 week low of $109.11 and a 52 week high of $159.99. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $86.19 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 1.21 and a beta of 0.91. The firm has a fifty day moving average of $151.56 and a two-hundred day moving average of $135.95.

Fiserv (NYSE:FI) last released its earnings results on Tuesday, February 6th. The business services provider reported $2.19 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.04. The firm had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.68 billion. Fiserv had a return on equity of 15.16% and a net margin of 16.07%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.91 earnings per share. As a group, equities research analysts predict that Fiserv, Inc. will post 8.62 EPS for the current year.

Insider Buying and Selling

In other news, COO Guy Chiarello sold 63,646 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $154.00, for a total value of $9,801,484.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares of the company’s stock, valued at approximately $25,209,646. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.75% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on FI shares. B. Riley raised their target price on Fiserv from $152.00 to $176.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Robert W. Baird lifted their price target on shares of Fiserv from $168.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 1st. StockNews.com began coverage on shares of Fiserv in a research note on Saturday, February 3rd. They set a “buy” rating on the stock. KeyCorp upgraded shares of Fiserv from a “sector weight” rating to an “overweight” rating and set a $180.00 target price for the company in a research note on Monday, January 8th. Finally, Oppenheimer upgraded Fiserv from a “market perform” rating to an “outperform” rating and set a $168.00 price target on the stock in a research report on Thursday, January 11th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $158.21.

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.