Strategic Wealth Partners Ltd. Has $711,000 Position in Fiserv, Inc. (NYSE:FI)

Strategic Wealth Partners Ltd. lessened its position in Fiserv, Inc. (NYSE:FI) by 16.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,461 shares of the business services provider’s stock after selling 680 shares during the period. Strategic Wealth Partners Ltd.’s holdings in Fiserv were worth $711,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of Fiserv in the fourth quarter valued at about $1,406,452,000. Raymond James Financial Inc. acquired a new stake in Fiserv during the fourth quarter worth approximately $614,982,000. Kovitz Investment Group Partners LLC grew its stake in Fiserv by 343.7% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider’s stock valued at $576,527,000 after acquiring an additional 2,174,025 shares during the period. Alliancebernstein L.P. grew its stake in Fiserv by 65.6% in the fourth quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock valued at $1,116,919,000 after acquiring an additional 2,153,554 shares during the period. Finally, FMR LLC grew its stake in Fiserv by 22.5% in the fourth quarter. FMR LLC now owns 11,568,895 shares of the business services provider’s stock valued at $2,376,482,000 after acquiring an additional 2,126,419 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Stock Up 4.7%

Shares of NYSE:FI opened at $166.63 on Monday. Fiserv, Inc. has a 52-week low of $146.25 and a 52-week high of $238.59. The firm has a market capitalization of $92.38 billion, a P/E ratio of 30.91, a P/E/G ratio of 1.52 and a beta of 0.97. The stock has a 50 day moving average price of $202.24 and a 200-day moving average price of $210.41. 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 (NYSE:FI) last posted its quarterly earnings data 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. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same quarter last year, the company earned $1.88 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities research analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its Board of Directors has approved a stock repurchase plan on Thursday, February 20th that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction 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 sale, the chief operating officer now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.74% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. 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 report on Friday, April 25th. UBS Group dropped their price target on Fiserv from $265.00 to $255.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Barclays lowered their target price on Fiserv from $265.00 to $230.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Wells Fargo & Company boosted their target price on 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 target on Fiserv in a research report on Friday, April 25th. Two analysts have rated the stock with a sell rating, one has given a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $230.00.

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.