Charles Schwab Investment Management Inc. Takes $450.83 Million Position in Fiserv, Inc. (NYSE:FI)

Charles Schwab Investment Management Inc. purchased a new position in shares of Fiserv, Inc. (NYSE:FI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,393,783 shares of the business services provider’s stock, valued at approximately $450,830,000. Charles Schwab Investment Management Inc. owned 0.57% of Fiserv at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in FI. Hollencrest Capital Management grew its holdings in shares of Fiserv by 75.8% in the third quarter. Hollencrest Capital Management now owns 232 shares of the business services provider’s stock worth $26,000 after purchasing an additional 100 shares during the last quarter. West Oak Capital LLC bought a new position in Fiserv in the 4th quarter worth about $27,000. Halpern Financial Inc. purchased a new position in shares of Fiserv during the fourth quarter worth approximately $27,000. Fortitude Family Office LLC bought a new stake in shares of Fiserv during the fourth quarter valued at approximately $28,000. Finally, Glass Jacobson Investment Advisors llc purchased a new stake in shares of Fiserv in the fourth quarter valued at approximately $31,000. 90.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FI has been the subject of a number of research analyst reports. StockNews.com began coverage on Fiserv in a research report on Saturday, February 3rd. They set a “buy” rating for the company. Oppenheimer upgraded shares of Fiserv from a “market perform” rating to an “outperform” rating and set a $168.00 target price on the stock in a report on Thursday, January 11th. UBS Group raised their target price on shares of Fiserv from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Jefferies Financial Group upped their price target on shares of Fiserv from $150.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, March 25th. Finally, BNP Paribas raised shares of Fiserv from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 10th. Six analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $164.33.

Insiders Place Their Bets

In related news, COO Guy Chiarello sold 23,929 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $151.79, for a total transaction of $3,632,182.91. Following the completion of the transaction, the chief operating officer now owns 163,699 shares of the company’s stock, valued at $24,847,871.21. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 111,575 shares of company stock valued at $17,022,387. 0.75% of the stock is owned by insiders.

Fiserv Stock Performance

Shares of FI traded up $2.49 during trading hours on Tuesday, reaching $153.08. 1,964,283 shares of the company traded hands, compared to its average volume of 2,560,861. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.81. The business has a fifty day moving average price of $152.78 and a 200-day moving average price of $139.96. Fiserv, Inc. has a 12-month low of $109.11 and a 12-month high of $159.99. The stock has a market capitalization of $89.57 billion, a P/E ratio of 28.61, a P/E/G ratio of 1.20 and a beta of 0.92.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.11. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. The business had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the previous year, the business earned $1.58 EPS. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. Equities analysts anticipate that Fiserv, Inc. will post 8.69 EPS for the current fiscal year.

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.