Fiserv, Inc. (NYSE:FI) Shares Acquired by Convergence Financial LLC

Convergence Financial LLC lifted its stake in shares of Fiserv, Inc. (NYSE:FI) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,056 shares of the business services provider’s stock after buying an additional 133 shares during the period. Convergence Financial LLC’s holdings in Fiserv were worth $1,655,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. J.W. Cole Advisors Inc. increased its holdings in Fiserv by 18.5% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 2,686 shares of the business services provider’s stock worth $483,000 after buying an additional 419 shares during the period. abrdn plc increased its stake in shares of Fiserv by 3.0% in the third quarter. abrdn plc now owns 482,772 shares of the business services provider’s stock worth $86,600,000 after acquiring an additional 13,928 shares during the period. MONECO Advisors LLC raised its holdings in shares of Fiserv by 2.3% during the third quarter. MONECO Advisors LLC now owns 3,592 shares of the business services provider’s stock worth $645,000 after purchasing an additional 80 shares during the last quarter. Valmark Advisers Inc. raised its holdings in shares of Fiserv by 37.7% during the third quarter. Valmark Advisers Inc. now owns 2,995 shares of the business services provider’s stock worth $538,000 after purchasing an additional 820 shares during the last quarter. Finally, Fidelis Capital Partners LLC lifted its position in Fiserv by 2.1% during the third quarter. Fidelis Capital Partners LLC now owns 3,583 shares of the business services provider’s stock valued at $644,000 after purchasing an additional 75 shares during the period. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Trading Down 1.2 %

FI opened at $229.58 on Thursday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The company’s 50 day simple moving average is $215.50 and its two-hundred day simple moving average is $200.07. The firm has a market capitalization of $128.86 billion, a price-to-earnings ratio of 42.59, a price-to-earnings-growth ratio of 1.52 and a beta of 0.94. Fiserv, Inc. has a 1-year low of $145.98 and a 1-year high of $237.99.

Fiserv (NYSE:FI) last released its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. Analysts expect 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 permits the company to repurchase 60,000,000 outstanding shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the business’s 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 sale, the chief operating officer now directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.75% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on FI shares. Susquehanna lifted their price objective on Fiserv from $230.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, February 10th. Seaport Res Ptn upgraded Fiserv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. KeyCorp boosted their price target on Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Morgan Stanley raised their price objective on shares of Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, StockNews.com cut shares of Fiserv from a “buy” rating to a “hold” rating in a research note on Tuesday. Three investment 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $239.83.

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.