Flagship Wealth Advisors LLC Invests $586,000 in Fiserv, Inc. (NYSE:FI)

Flagship Wealth Advisors LLC acquired a new position in Fiserv, Inc. (NYSE:FI) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,855 shares of the business services provider’s stock, valued at approximately $586,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Valley National Advisers Inc. purchased a new stake in Fiserv in the 4th quarter worth $29,000. Marshall Investment Management LLC purchased a new stake in Fiserv in the 4th quarter worth $29,000. Compass Financial Services Inc purchased a new stake in Fiserv in the 4th quarter worth $31,000. Campbell Capital Management Inc. purchased a new stake in Fiserv in the 4th quarter worth $37,000. Finally, Knuff & Co LLC purchased a new stake in Fiserv in the 4th quarter worth $45,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Fiserv Stock Up 2.6 %

Shares of NYSE FI opened at $214.91 on Monday. 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 $120.62 billion, a P/E ratio of 39.87, a PEG ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a 1 year low of $145.98 and a 1 year high of $238.59. The firm has a 50-day simple moving average of $218.96 and a two-hundred day simple moving average of $204.87.

Fiserv (NYSE:FI) last issued its earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS 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%. Research analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current year.

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

Analyst Ratings Changes

FI has been the subject of several research reports. Oppenheimer increased their price objective on shares of Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Citigroup increased their price objective on shares of Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. 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 report on Thursday, February 6th. Stephens increased their price objective on shares of Fiserv from $255.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, Seaport Res Ptn raised shares of Fiserv from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $239.83.

Insider Transactions at Fiserv

In other 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 transaction of $10,599,750.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.75% of the company’s stock.

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.