Cercano Management LLC Makes New $205,000 Investment in Fiserv, Inc. (NYSE:FI)

Cercano Management LLC bought a new stake in shares of Fiserv, Inc. (NYSE:FI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,000 shares of the business services provider’s stock, valued at approximately $205,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bowie Capital Management LLC increased its stake in Fiserv by 7.6% during the fourth quarter. Bowie Capital Management LLC now owns 343,831 shares of the business services provider’s stock worth $70,630,000 after acquiring an additional 24,215 shares during the last quarter. Cardiff Park Advisors LLC bought a new position in shares of Fiserv during the 4th quarter valued at approximately $219,000. Cary Street Partners Financial LLC purchased a new stake in Fiserv during the 4th quarter valued at $8,299,000. Baker Avenue Asset Management LP lifted its position in Fiserv by 31.0% in the fourth quarter. Baker Avenue Asset Management LP now owns 4,795 shares of the business services provider’s stock worth $985,000 after buying an additional 1,134 shares during the last quarter. Finally, BIP Wealth LLC purchased a new position in Fiserv during the fourth quarter worth $222,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total value of $10,599,750.00. Following the completion of the transaction, the chief operating officer now directly owns 227,711 shares of the company’s stock, valued at $53,637,326.05. This trade represents a 16.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.74% of the company’s stock.

Fiserv Price Performance

FI opened at $185.49 on Tuesday. The firm has a market capitalization of $102.84 billion, a PE ratio of 34.41, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97. 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 business’s 50-day moving average is $210.16 and its two-hundred day moving average is $211.64. Fiserv, Inc. has a 1 year low of $146.25 and a 1 year high of $238.59.

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

Fiserv declared that its board has initiated a share buyback program on Thursday, February 20th that authorizes the company to repurchase 60,000,000 shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FI shares. Stephens increased their target price on shares of Fiserv from $255.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Citigroup reduced their price objective on shares of Fiserv from $267.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Monness Crespi & Hardt lowered Fiserv from a “neutral” rating to a “sell” rating and set a $145.00 target price for the company. in a research report on Wednesday, April 9th. BMO Capital Markets cut their target price on Fiserv from $254.00 to $232.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Finally, Keefe, Bruyette & Woods decreased their price target on Fiserv from $260.00 to $240.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Fiserv currently has a consensus rating of “Moderate Buy” and a consensus target price of $230.00.

Fiserv 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.