Okabena Investment Services Inc. Invests $411,000 in Fiserv, Inc. (NYSE:FI)

Okabena Investment Services Inc. acquired a new stake in Fiserv, Inc. (NYSE:FI) in the 4th quarter, Holdings Channel reports. The firm acquired 2,000 shares of the business services provider’s stock, valued at approximately $411,000.

Several other large investors have also recently bought and sold shares of the stock. Jacobi Capital Management LLC raised its position in shares of Fiserv by 0.4% during the fourth quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider’s stock valued at $2,281,000 after buying an additional 44 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Fiserv by 1.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider’s stock valued at $841,000 after acquiring an additional 45 shares during the period. Catalina Capital Group LLC raised its holdings in Fiserv by 2.3% in the 4th quarter. Catalina Capital Group LLC now owns 2,160 shares of the business services provider’s stock valued at $444,000 after acquiring an additional 48 shares in the last quarter. Mount Yale Investment Advisors LLC lifted its position in shares of Fiserv by 1.2% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 4,126 shares of the business services provider’s stock worth $848,000 after acquiring an additional 50 shares during the period. Finally, Hemington Wealth Management increased its position in shares of Fiserv by 6.1% during the fourth quarter. Hemington Wealth Management now owns 864 shares of the business services provider’s stock valued at $177,000 after purchasing an additional 50 shares during the period. 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 Fiserv stock in a transaction that occurred on 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.75% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on FI shares. The Goldman Sachs Group lifted their price target on shares of Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. KeyCorp raised their price target on shares of Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Royal Bank of Canada raised their target price on Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods upped their price target on Fiserv from $238.00 to $260.00 and gave the company an “outperform” 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 report on Tuesday, January 14th. Two 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $242.32.

Fiserv Trading Down 1.4 %

FI opened at $216.15 on Friday. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $238.59. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The company has a market cap of $121.32 billion, a price-to-earnings ratio of 40.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The firm has a 50 day simple moving average of $222.00 and a 200 day simple moving average of $207.67.

Fiserv (NYSE:FI) last announced its quarterly earnings results 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, sell-side analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv announced that its Board of Directors has approved a share buyback program on Thursday, February 20th that allows the company to repurchase 60,000,000 outstanding shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

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.