Simon Quick Advisors LLC Boosts Stake in Fiserv, Inc. (NYSE:FI)

Simon Quick Advisors LLC grew its position in shares of Fiserv, Inc. (NYSE:FI) by 46.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,762 shares of the business services provider’s stock after acquiring an additional 880 shares during the period. Simon Quick Advisors LLC’s holdings in Fiserv were worth $610,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. LaFleur & Godfrey LLC increased its holdings in shares of Fiserv by 0.4% in the fourth quarter. LaFleur & Godfrey LLC now owns 18,116 shares of the business services provider’s stock worth $3,721,000 after purchasing an additional 75 shares during the last quarter. Brighton Jones LLC boosted its position in shares of Fiserv by 91.9% during the 4th quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider’s stock valued at $872,000 after acquiring an additional 2,033 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Fiserv in the fourth quarter valued at $11,330,000. Empowered Funds LLC increased its position in Fiserv by 12.5% in the fourth quarter. Empowered Funds LLC now owns 10,492 shares of the business services provider’s stock worth $2,155,000 after purchasing an additional 1,164 shares during the last quarter. Finally, Leavell Investment Management Inc. grew its stake in shares of Fiserv by 21.3% in the 4th quarter. Leavell Investment Management Inc. now owns 3,133 shares of the business services provider’s stock worth $644,000 after buying an additional 550 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Stock Performance

Shares of Fiserv stock opened at $162.79 on Friday. The company has a market capitalization of $90.26 billion, a PE ratio of 30.20, a PEG ratio of 1.52 and a beta of 0.90. Fiserv, Inc. has a 12 month low of $146.46 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. The stock’s fifty day simple moving average is $181.52 and its 200 day simple moving average is $203.68.

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

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

Insiders Place Their Bets

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of the company’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total transaction of $904,320.00. Following the sale, the executive vice president now owns 25,385 shares of the company’s stock, valued at approximately $4,061,600. This represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total transaction of $403,628.16. Following the transaction, the insider now owns 53,385 shares in the company, valued at $8,577,901.80. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.74% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on FI. Redburn Atlantic reiterated a “sell” rating and set a $150.00 target price on shares of Fiserv in a research report on Thursday, April 17th. Jefferies Financial Group reduced their target price on shares of Fiserv from $180.00 to $165.00 and set a “hold” rating for the company in a report on Tuesday, May 27th. BMO Capital Markets reduced their target price on shares of Fiserv from $254.00 to $232.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Mizuho set a $200.00 price objective on shares of Fiserv in a report on Thursday, May 15th. Finally, Citigroup cut their price objective on shares of Fiserv from $267.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $220.27.

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.