Banco BTG Pactual S.A. Purchases Shares of 2,992 Fiserv, Inc. (NYSE:FI)

Banco BTG Pactual S.A. acquired a new position in shares of Fiserv, Inc. (NYSE:FI) in the fourth quarter, Holdings Channel reports. The fund acquired 2,992 shares of the business services provider’s stock, valued at approximately $616,000.

Several other institutional investors have also made changes to their positions in the business. Financial Counselors Inc. boosted its holdings in Fiserv by 4.1% during the fourth quarter. Financial Counselors Inc. now owns 2,896 shares of the business services provider’s stock valued at $595,000 after purchasing an additional 113 shares in the last quarter. Florida Financial Advisors LLC bought a new position in shares of Fiserv during the 4th quarter worth approximately $245,000. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Fiserv by 6.2% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,412 shares of the business services provider’s stock valued at $2,344,000 after buying an additional 666 shares in the last quarter. Zions Bancorporation N.A. grew its position in Fiserv by 201.5% in the fourth quarter. Zions Bancorporation N.A. now owns 2,141 shares of the business services provider’s stock valued at $440,000 after acquiring an additional 1,431 shares during the period. Finally, TIAA Trust National Association raised its stake in Fiserv by 7.4% during the fourth quarter. TIAA Trust National Association now owns 13,931 shares of the business services provider’s stock worth $2,862,000 after acquiring an additional 958 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.75% of the stock is currently owned by company insiders.

Fiserv Price Performance

Fiserv stock opened at $222.65 on Wednesday. The firm has a market capitalization of $124.97 billion, a P/E ratio of 41.31, a PEG ratio of 1.52 and a beta of 0.93. The business has a 50-day moving average of $221.23 and a 200-day moving average of $207.18. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. Fiserv, Inc. has a 1 year low of $145.98 and a 1 year high of $238.59.

Fiserv (NYSE:FI) last issued its earnings results 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, equities analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its Board of Directors has initiated a stock buyback program on Thursday, February 20th that authorizes the company to buyback 60,000,000 shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FI. KeyCorp upped their target price on shares of Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Barclays lifted their target price on shares of Fiserv from $235.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Susquehanna increased their price target on Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, February 10th. Morgan Stanley lifted their price objective on Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, Seaport Res Ptn raised Fiserv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. 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 stock presently has an average rating of “Moderate Buy” and an average target price 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.