Industrial Alliance Investment Management Inc. Has $4.36 Million Stock Holdings in Fiserv, Inc. (NASDAQ:FISV)

Industrial Alliance Investment Management Inc. increased its position in shares of Fiserv, Inc. (NASDAQ:FISV – Get Rating) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,624 shares of the business services provider’s stock after acquiring an additional 1,091 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in Fiserv were worth $4,363,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Fiserv by 4.5% during the third quarter. Vanguard Group Inc. now owns 50,207,943 shares of the business services provider’s stock valued at $4,697,958,000 after acquiring an additional 2,180,811 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Fiserv by 3.0% during the third quarter. Price T Rowe Associates Inc. MD now owns 48,306,383 shares of the business services provider’s stock valued at $4,520,234,000 after acquiring an additional 1,406,050 shares during the period. BlackRock Inc. lifted its stake in shares of Fiserv by 5.1% during the third quarter. BlackRock Inc. now owns 42,445,989 shares of the business services provider’s stock valued at $3,971,669,000 after acquiring an additional 2,057,081 shares during the period. Dodge & Cox lifted its stake in shares of Fiserv by 0.5% during the second quarter. Dodge & Cox now owns 37,117,580 shares of the business services provider’s stock valued at $3,302,351,000 after acquiring an additional 200,189 shares during the period. Finally, State Street Corp lifted its stake in shares of Fiserv by 7.7% during the third quarter. State Street Corp now owns 24,848,246 shares of the business services provider’s stock valued at $2,325,050,000 after acquiring an additional 1,774,528 shares during the period. Institutional investors and hedge funds own 88.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FISV shares. Mizuho reiterated a “buy” rating and issued a $135.00 price objective on shares of Fiserv in a report on Wednesday, February 8th. Susquehanna upped their price objective on Fiserv from $135.00 to $140.00 and gave the company a “positive” rating in a report on Wednesday, February 8th. Wells Fargo & Company upped their price objective on Fiserv from $101.00 to $104.00 and gave the company an “underweight” rating in a report on Wednesday, February 8th. Royal Bank of Canada upped their price objective on Fiserv from $123.00 to $131.00 and gave the company an “outperform” rating in a report on Wednesday, February 8th. Finally, Raymond James upped their price objective on Fiserv from $109.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, February 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $127.14.

Fiserv Stock Performance

Shares of NASDAQ FISV opened at $109.26 on Thursday. The stock has a 50 day moving average price of $109.95 and a 200 day moving average price of $103.64. Fiserv, Inc. has a 52 week low of $87.03 and a 52 week high of $119.48. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $68.63 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 1.25 and a beta of 0.86.

Fiserv (NASDAQ:FISV – Get Rating) last issued its quarterly earnings results on Tuesday, February 7th. The business services provider reported $1.91 EPS for the quarter, meeting the consensus estimate of $1.91. Fiserv had a return on equity of 13.32% and a net margin of 14.26%. The firm had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.35 billion. During the same period in the prior year, the firm posted $1.57 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. Analysts predict that Fiserv, Inc. will post 7.32 earnings per share for the current fiscal year.

Fiserv announced that its board has authorized a stock buyback program on Thursday, February 23rd that permits the company to buyback 75,000,000 shares. This buyback authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, Director Holdings L.P. Valueact sold 1,060,030 shares of the firm’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $102.23, for a total value of $108,366,866.90. Following the completion of the sale, the director now directly owns 13,587,746 shares of the company’s stock, valued at $1,389,075,273.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Holdings L.P. Valueact sold 1,060,030 shares of the firm’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $102.23, for a total value of $108,366,866.90. Following the completion of the sale, the director now directly owns 13,587,746 shares of the company’s stock, valued at $1,389,075,273.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Guy Chiarello sold 1,063 shares of Fiserv stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $105.03, for a total value of $111,646.89. Following the sale, the chief operating officer now directly owns 201,623 shares of the company’s stock, valued at $21,176,463.69. The disclosure for this sale can be found here. Insiders sold a total of 1,755,044 shares of company stock valued at $179,073,098 over the last three months. Insiders own 1.00% of the company’s stock.

Fiserv Company Profile

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Fiserv, Inc engages in the provision of financial services technology. It operates through the following segments: Merchant Acceptance, Financial Technology, and Payments and Network. The Merchant Acceptance segment provides commerce enabling solutions and serves merchants of all sizes around the world.