Elefante Mark B Takes Position in Fiserv, Inc. (NYSE:FI)

Elefante Mark B bought a new stake in shares of Fiserv, Inc. (NYSE:FI) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 24,695 shares of the business services provider’s stock, valued at approximately $5,073,000. Fiserv accounts for approximately 4.6% of Elefante Mark B’s investment portfolio, making the stock its 5th largest holding.

Several other hedge funds also recently modified their holdings of the business. Czech National Bank raised its position in shares of Fiserv by 5.2% during the 4th quarter. Czech National Bank now owns 123,353 shares of the business services provider’s stock valued at $25,339,000 after acquiring an additional 6,072 shares during the last quarter. Trust Co. of Vermont grew its holdings in Fiserv by 170.4% during the fourth quarter. Trust Co. of Vermont now owns 6,839 shares of the business services provider’s stock valued at $1,405,000 after purchasing an additional 4,310 shares during the period. Cardano Risk Management B.V. bought a new stake in Fiserv in the fourth quarter valued at approximately $97,254,000. Root Financial Partners LLC acquired a new stake in Fiserv in the fourth quarter worth $257,000. Finally, Merit Financial Group LLC boosted its position in shares of Fiserv by 146.9% during the fourth quarter. Merit Financial Group LLC now owns 19,803 shares of the business services provider’s stock worth $4,068,000 after purchasing an additional 11,783 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Susquehanna dropped their price objective on Fiserv from $250.00 to $240.00 and set a “positive” rating on the stock in a research note on Friday, April 25th. The Goldman Sachs Group upgraded Fiserv from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $246.00 to $260.00 in a report on Wednesday, April 2nd. Royal Bank of Canada set a $237.00 target price on Fiserv in a research note on Friday, April 25th. Wells Fargo & Company lifted their price target on shares of Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, Piper Sandler set a $218.00 price objective on shares of Fiserv in a research report on Friday, April 25th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $230.00.

Insiders Place Their Bets

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 transaction of $10,599,750.00. Following the sale, the chief operating officer now owns 227,711 shares in the company, valued at approximately $53,637,326.05. This trade represents a 16.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.74% of the company’s stock.

Fiserv Stock Down 0.4 %

Shares of FI opened at $181.38 on Friday. The firm has a market cap of $100.56 billion, a P/E ratio of 33.65, 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 quick ratio of 1.07 and a current ratio of 1.06. Fiserv, Inc. has a 52 week low of $146.25 and a 52 week high of $238.59. The firm’s 50-day simple moving average is $207.03 and its 200 day simple moving average is $211.15.

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

Fiserv announced that its board has authorized a share repurchase plan on Thursday, February 20th that permits the company to buyback 60,000,000 shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

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.