Fiserv, Inc. (NYSE:FI) Holdings Lowered by Port Capital LLC

Port Capital LLC trimmed its stake in shares of Fiserv, Inc. (NYSE:FI) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 336,427 shares of the business services provider’s stock after selling 12,524 shares during the period. Fiserv comprises about 3.2% of Port Capital LLC’s holdings, making the stock its 11th biggest holding. Port Capital LLC’s holdings in Fiserv were worth $69,109,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. ProShare Advisors LLC lifted its stake in Fiserv by 10.2% in the 4th quarter. ProShare Advisors LLC now owns 121,925 shares of the business services provider’s stock worth $25,046,000 after acquiring an additional 11,269 shares in the last quarter. Quantinno Capital Management LP increased its holdings in shares of Fiserv by 24.3% during the 4th quarter. Quantinno Capital Management LP now owns 50,913 shares of the business services provider’s stock valued at $10,459,000 after acquiring an additional 9,941 shares during the last quarter. Pathstone Holdings LLC increased its holdings in shares of Fiserv by 2.8% during the 4th quarter. Pathstone Holdings LLC now owns 71,884 shares of the business services provider’s stock valued at $14,766,000 after acquiring an additional 1,968 shares during the last quarter. Parkwood LLC acquired a new position in shares of Fiserv during the 4th quarter valued at about $11,222,000. Finally, Mufg Securities Americas Inc. acquired a new stake in Fiserv in the 4th quarter valued at approximately $1,725,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FI. Keefe, Bruyette & Woods lowered their target price on Fiserv from $260.00 to $240.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. UBS Group cut their target price on Fiserv from $265.00 to $255.00 and set a “buy” rating for the company in a research report on Friday, April 25th. BMO Capital Markets cut their price objective on Fiserv from $254.00 to $232.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Susquehanna cut their price objective on Fiserv from $250.00 to $240.00 and set a “positive” rating for the company in a research report on Friday, April 25th. Finally, KeyCorp lifted their target price on Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $230.00.

Fiserv Stock Performance

Shares of Fiserv stock opened at $189.76 on Thursday. The firm has a market cap of $105.21 billion, a price-to-earnings ratio of 35.21, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97. The stock’s 50-day moving average is $204.31 and its 200-day moving average is $210.78. Fiserv, Inc. has a one year low of $146.25 and a one year 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.

Fiserv (NYSE:FI) last released its earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.06. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same quarter in the prior year, the company posted $1.88 earnings per share. Fiserv’s revenue was up 5.1% on a year-over-year basis. Equities analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

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

Insider Buying and Selling

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was 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 owns 227,711 shares of the company’s stock, valued at $53,637,326.05. The trade was a 16.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.74% of the stock is currently owned by corporate insiders.

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.