Fiserv, Inc. (NYSE:FI) Shares Sold by Polar Capital Holdings Plc

Polar Capital Holdings Plc lessened its stake in Fiserv, Inc. (NYSE:FI) by 52.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 57,151 shares of the business services provider’s stock after selling 62,481 shares during the quarter. Polar Capital Holdings Plc’s holdings in Fiserv were worth $11,740,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Barclays PLC raised its stake in Fiserv by 3.0% during the third quarter. Barclays PLC now owns 1,685,157 shares of the business services provider’s stock worth $302,737,000 after acquiring an additional 48,413 shares during the period. Accurate Wealth Management LLC raised its stake in Fiserv by 15.3% during the fourth quarter. Accurate Wealth Management LLC now owns 1,265 shares of the business services provider’s stock worth $254,000 after acquiring an additional 168 shares during the period. SeaCrest Wealth Management LLC raised its stake in Fiserv by 3.9% during the fourth quarter. SeaCrest Wealth Management LLC now owns 1,782 shares of the business services provider’s stock worth $366,000 after acquiring an additional 67 shares during the period. Fifth Third Wealth Advisors LLC raised its stake in Fiserv by 9.2% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 7,085 shares of the business services provider’s stock worth $1,455,000 after acquiring an additional 596 shares during the period. Finally, Kathmere Capital Management LLC raised its stake in Fiserv by 7.5% during the fourth quarter. Kathmere Capital Management LLC now owns 1,294 shares of the business services provider’s stock worth $266,000 after acquiring an additional 90 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

Insider Activity at Fiserv

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 completion of the sale, the chief operating officer now directly owns 227,711 shares of the company’s stock, valued at $53,637,326.05. This represents a 16.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.74% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Morgan Stanley reiterated an “overweight” rating and set a $268.00 price objective (up previously from $267.00) on shares of Fiserv in a research note on Friday, April 25th. BMO Capital Markets dropped their price objective on shares of Fiserv from $254.00 to $232.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Wells Fargo & Company increased their price objective on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Piper Sandler set a $218.00 target price on shares of Fiserv in a research report on Friday, April 25th. Finally, UBS Group decreased their target price on shares of Fiserv from $265.00 to $255.00 and set a “buy” rating for the company 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 assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Fiserv has a consensus rating of “Moderate Buy” and an average target price of $230.00.

Fiserv Trading Down 16.3%

Fiserv stock opened at $158.95 on Friday. The firm has a 50 day simple moving average of $203.19 and a 200-day simple moving average of $210.49. 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 stock has a market capitalization of $88.13 billion, a PE ratio of 29.49, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97. Fiserv, Inc. has a 12-month low of $146.25 and a 12-month high of $238.59.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.06. The business had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.86 billion. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The business’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the firm posted $1.88 earnings per share. As a group, equities research analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its board has approved a stock repurchase plan on Thursday, February 20th that allows the company to buyback 60,000,000 shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

About Fiserv

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.