Moore Capital Management LP Reduces Stock Position in Fiserv, Inc. (NYSE:FI)

Moore Capital Management LP trimmed its stake in Fiserv, Inc. (NYSE:FI) by 90.4% in the 4th quarter, HoldingsChannel reports. The firm owned 2,902 shares of the business services provider’s stock after selling 27,370 shares during the quarter. Moore Capital Management LP’s holdings in Fiserv were worth $596,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FI. Valley National Advisers Inc. purchased a new stake in shares of Fiserv in the 4th quarter worth about $29,000. Marshall Investment Management LLC purchased a new stake in shares of Fiserv in the 4th quarter worth about $29,000. Compass Financial Services Inc purchased a new stake in shares of Fiserv in the 4th quarter worth about $31,000. Campbell Capital Management Inc. purchased a new stake in shares of Fiserv in the 4th quarter worth about $37,000. Finally, Quarry LP lifted its position in shares of Fiserv by 51.9% in the 4th quarter. Quarry LP now owns 205 shares of the business services provider’s stock worth $42,000 after purchasing an additional 70 shares during the period. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Price Performance

Shares of FI opened at $191.00 on Wednesday. The firm has a market cap of $105.90 billion, a PE ratio of 35.44, a P/E/G ratio of 1.52 and a beta of 0.97. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The firm has a fifty day simple moving average of $204.87 and a two-hundred day simple moving average of $210.93. Fiserv, Inc. has a 1-year low of $146.25 and a 1-year high of $238.59.

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, beating analysts’ consensus estimates of $2.08 by $0.06. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.86 billion. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.88 EPS. On average, equities analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its board has approved a stock repurchase program on Thursday, February 20th that authorizes the company to repurchase 60,000,000 shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FI shares. Redburn Atlantic reaffirmed a “sell” rating and issued a $150.00 target price on shares of Fiserv in a research report on Thursday, April 17th. Keefe, Bruyette & Woods lowered their price target on shares of Fiserv from $260.00 to $240.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Wells Fargo & Company upped their price objective on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Royal Bank of Canada set a $237.00 target price on shares of Fiserv in a report on Friday, April 25th. Finally, Piper Sandler set a $218.00 price target on Fiserv in a research report on Friday, April 25th. Two investment 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $230.00.

Insider Buying and Selling at Fiserv

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

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.