Nemes Rush Group LLC Boosts Holdings in Fiserv, Inc. (NYSE:FI)

Nemes Rush Group LLC lifted its stake in shares of Fiserv, Inc. (NYSE:FI) by 17.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,777 shares of the business services provider’s stock after purchasing an additional 5,347 shares during the period. Nemes Rush Group LLC’s holdings in Fiserv were worth $7,349,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of FI. Norges Bank purchased a new stake in Fiserv in the 4th quarter worth about $1,406,452,000. Raymond James Financial Inc. bought a new position in Fiserv in the 4th quarter worth approximately $614,982,000. Alliancebernstein L.P. raised its holdings in Fiserv by 65.6% during the 4th quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock valued at $1,116,919,000 after acquiring an additional 2,153,554 shares during the period. Madison Investment Advisors LLC bought a new position in shares of Fiserv in the fourth quarter worth $134,710,000. Finally, Kovitz Investment Group Partners LLC raised its stake in shares of Fiserv by 788.7% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock valued at $109,700,000 after purchasing an additional 561,377 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Stock Performance

Shares of Fiserv stock opened at $221.19 on Tuesday. The business has a fifty day simple moving average of $222.25 and a two-hundred day simple moving average of $208.51. The firm has a market capitalization of $124.15 billion, a P/E ratio of 41.04, a P/E/G ratio of 1.52 and a beta of 0.93. 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 12 month low of $145.98 and a 12 month high of $238.59.

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

Fiserv declared that its board has initiated 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 repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of Fiserv 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 completion of the transaction, the chief operating officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.75% of the stock is owned by company insiders.

Analyst Ratings Changes

FI has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. The Goldman Sachs Group increased their price objective on Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Susquehanna upped their target price on Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, February 10th. Keefe, Bruyette & Woods boosted their price objective on Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Oppenheimer lifted their target price on shares of Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $242.32.

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.