Norges Bank Makes New Investment in Fiserv, Inc. (NYSE:FI)

Norges Bank purchased a new stake in shares of Fiserv, Inc. (NYSE:FI) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 6,846,716 shares of the business services provider’s stock, valued at approximately $1,406,452,000. Norges Bank owned about 1.20% of Fiserv at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in FI. Valley National Advisers Inc. purchased a new stake in Fiserv during the fourth quarter worth about $29,000. Marshall Investment Management LLC purchased a new stake in Fiserv during the 4th quarter worth approximately $29,000. Compass Financial Services Inc acquired a new stake in Fiserv during the 4th quarter worth approximately $31,000. Campbell Capital Management Inc. purchased a new position in Fiserv in the 4th quarter valued at approximately $37,000. Finally, Knuff & Co LLC acquired a new position in shares of Fiserv in the fourth quarter worth $45,000. 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 business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the sale, the chief operating officer now owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.75% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Citigroup increased their price objective on Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group lifted their price objective on Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Susquehanna raised their target price on shares of Fiserv from $230.00 to $270.00 and gave the company a “positive” rating in a report on Monday, February 10th. Wells Fargo & Company boosted their price target on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, Seaport Res Ptn upgraded shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Fiserv currently has an average rating of “Moderate Buy” and an average price target of $242.32.

Fiserv Stock Performance

Shares of FI opened at $221.75 on Thursday. Fiserv, Inc. has a 1 year low of $145.98 and a 1 year high of $238.59. The stock has a market capitalization of $124.47 billion, a P/E ratio of 41.14, a P/E/G ratio of 1.52 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. The company’s fifty day moving average is $221.58 and its two-hundred day moving average is $207.28.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, topping 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, sell-side analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current year.

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

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.