King Luther Capital Management Corp Has $43.79 Million Stock Position in Fiserv, Inc. (NYSE:FI)

King Luther Capital Management Corp grew its position in shares of Fiserv, Inc. (NYSE:FI) by 49.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 213,191 shares of the business services provider’s stock after acquiring an additional 70,911 shares during the quarter. King Luther Capital Management Corp’s holdings in Fiserv were worth $43,794,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Citizens Financial Group Inc. RI boosted its position in Fiserv by 0.8% during the 4th quarter. Citizens Financial Group Inc. RI now owns 12,933 shares of the business services provider’s stock worth $2,657,000 after acquiring an additional 109 shares during the last quarter. Sage Mountain Advisors LLC boosted its position in Fiserv by 2.7% during the 4th quarter. Sage Mountain Advisors LLC now owns 2,382 shares of the business services provider’s stock worth $489,000 after acquiring an additional 63 shares during the last quarter. Davis R M Inc. acquired a new position in Fiserv during the 4th quarter worth approximately $428,000. Independent Advisor Alliance boosted its position in Fiserv by 20.0% during the 4th quarter. Independent Advisor Alliance now owns 11,780 shares of the business services provider’s stock worth $2,420,000 after acquiring an additional 1,966 shares during the last quarter. Finally, Johnson Investment Counsel Inc. boosted its holdings in shares of Fiserv by 4.4% in the 4th quarter. Johnson Investment Counsel Inc. now owns 9,811 shares of the business services provider’s stock valued at $2,015,000 after buying an additional 414 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FI shares. The Goldman Sachs Group increased their price objective on Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods increased their price objective on Fiserv from $238.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Oppenheimer increased their price objective on Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Stephens increased their price objective on Fiserv from $255.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, KeyCorp increased their price objective on Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $239.83.

Fiserv Stock Down 1.5 %

Shares of NYSE FI opened at $214.76 on Tuesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. Fiserv, Inc. has a 52 week low of $145.98 and a 52 week high of $238.59. The stock has a market capitalization of $120.54 billion, a P/E ratio of 39.84, a PEG ratio of 1.52 and a beta of 0.93. The stock’s fifty day moving average is $218.48 and its 200 day moving average is $203.69.

Fiserv (NYSE:FI) last issued 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 return on equity of 17.93% and a net margin of 15.31%. Sell-side analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its board has authorized a stock repurchase plan on Thursday, February 20th that allows the company to repurchase 60,000,000 outstanding shares. This repurchase authorization allows the business services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, COO Guy Chiarello sold 45,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was 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 of the company’s stock, valued at $53,637,326.05. This trade represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.75% of the stock is owned by company insiders.

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.