FUKOKU MUTUAL LIFE INSURANCE Co Purchases New Shares in Fiserv, Inc. (NYSE:FI)

FUKOKU MUTUAL LIFE INSURANCE Co purchased a new stake in shares of Fiserv, Inc. (NYSE:FI) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,458 shares of the business services provider’s stock, valued at approximately $505,000.

Other large investors also recently made changes to their positions in the company. Sanders Capital LLC purchased a new position in Fiserv during the third quarter valued at approximately $764,543,000. FMR LLC raised its holdings in Fiserv by 17.8% during the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after buying an additional 1,427,664 shares during the last quarter. Kovitz Investment Group Partners LLC raised its holdings in 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 buying an additional 561,377 shares during the last quarter. Mizuho Securities USA LLC increased its position in Fiserv by 1,238.6% during the 3rd quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock valued at $108,488,000 after purchasing an additional 558,774 shares during the period. Finally, Cardano Risk Management B.V. purchased a new position in Fiserv during the 4th quarter valued at $97,254,000. 90.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FI has been the topic of a number of recent research reports. BMO Capital Markets upped their target price on shares of Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company increased their price objective on shares of Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Royal Bank of Canada increased their price objective on shares of Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods increased their price objective on shares of Fiserv from $238.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Oppenheimer increased their price objective 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. Three investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Fiserv has a consensus rating of “Moderate Buy” and a consensus price target of $239.83.

Fiserv Stock Down 1.2 %

Shares of FI opened at $229.58 on Thursday. The business’s fifty day moving average price is $215.50 and its two-hundred day moving average price is $200.07. 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 firm has a market capitalization of $128.86 billion, a price-to-earnings ratio of 42.59, a PEG ratio of 1.52 and a beta of 0.94. Fiserv, Inc. has a 52 week low of $145.98 and a 52 week high of $237.99.

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, beating the consensus estimate of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. On average, analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv announced that its Board of Directors has initiated a share repurchase program 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 programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 16.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.75% of the company’s stock.

Fiserv 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.