Headinvest LLC Trims Position in Fiserv, Inc. (NYSE:FI)

Headinvest LLC cut its holdings in shares of Fiserv, Inc. (NYSE:FI) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 65,667 shares of the business services provider’s stock after selling 1,730 shares during the period. Fiserv accounts for 2.5% of Headinvest LLC’s portfolio, making the stock its 6th biggest position. Headinvest LLC’s holdings in Fiserv were worth $13,489,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in FI. Marshall Investment Management LLC purchased a new position in shares of Fiserv during the 4th quarter valued at about $29,000. Valley National Advisers Inc. purchased a new stake in shares of Fiserv during the 4th quarter valued at about $29,000. Compass Financial Services Inc purchased a new position in Fiserv in the fourth quarter worth about $31,000. Campbell Capital Management Inc. bought a new stake in Fiserv during the fourth quarter worth approximately $37,000. Finally, Quarry LP raised its position in Fiserv by 51.9% during the fourth quarter. Quarry LP now owns 205 shares of the business services provider’s stock valued at $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 Trading Down 2.0%

Shares of NYSE:FI opened at $162.63 on Thursday. The business has a 50 day moving average of $199.50 and a two-hundred day moving average of $209.55. The company has a market capitalization of $90.17 billion, a PE ratio of 30.17, a PEG 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. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86.

Fiserv (NYSE:FI) last announced its earnings results 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 for 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 revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.88 earnings per share. As a group, analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its Board of Directors has initiated a stock buyback plan 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 plans are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

FI has been the topic of a number of analyst reports. Susquehanna cut their price objective on shares of Fiserv from $250.00 to $240.00 and set a “positive” rating on the stock in a research report on Friday, April 25th. UBS Group cut their price target on shares of Fiserv from $265.00 to $255.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Barclays decreased their price objective on shares of Fiserv from $265.00 to $230.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Wells Fargo & Company upped 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, KeyCorp upped their price objective on Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Fiserv presently has an average rating of “Moderate Buy” and a consensus price target of $224.20.

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.