Fiserv, Inc. (NYSE:FI) Stake Cut by Brooktree Capital Management

Brooktree Capital Management decreased its stake in shares of Fiserv, Inc. (NYSE:FI) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 48,848 shares of the business services provider’s stock after selling 492 shares during the period. Fiserv accounts for 7.4% of Brooktree Capital Management’s portfolio, making the stock its 4th largest position. Brooktree Capital Management’s holdings in Fiserv were worth $10,034,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Soros Capital Management LLC lifted its holdings in Fiserv by 71.7% during the 3rd quarter. Soros Capital Management LLC now owns 54,797 shares of the business services provider’s stock worth $9,844,000 after purchasing an additional 22,884 shares in the last quarter. Czech National Bank increased its stake in Fiserv by 5.2% in the 4th quarter. Czech National Bank now owns 123,353 shares of the business services provider’s stock worth $25,339,000 after acquiring an additional 6,072 shares during the last quarter. Chiron Investment Management LLC bought a new position in Fiserv in the 3rd quarter worth about $4,709,000. Trust Co. of Vermont increased its stake in Fiserv by 170.4% in the 4th quarter. Trust Co. of Vermont now owns 6,839 shares of the business services provider’s stock worth $1,405,000 after acquiring an additional 4,310 shares during the last quarter. Finally, Cardano Risk Management B.V. bought a new position in Fiserv in the 4th quarter worth about $97,254,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Stephens upped their target price on Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Compass Point assumed coverage on Fiserv in a research note on Wednesday, November 20th. They issued a “buy” rating and a $278.00 target price on the stock. The Goldman Sachs Group upped their target price on Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Citigroup upped their target price on Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Finally, Wells Fargo & Company increased their price objective on Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Fiserv presently has an average rating of “Moderate Buy” and a consensus target price of $239.83.

Insiders Place Their Bets

In other news, COO Guy Chiarello sold 45,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 227,711 shares in the company, valued at $53,637,326.05. This trade represents a 16.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.75% of the company’s stock.

Fiserv Trading Up 1.6 %

NYSE FI opened at $218.05 on Tuesday. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $238.59. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. The stock has a 50 day simple moving average of $219.21 and a two-hundred day simple moving average of $205.19. The stock has a market cap of $122.39 billion, a P/E ratio of 40.45, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

Fiserv (NYSE:FI) last released its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. On average, analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv declared that its Board of Directors has initiated a share buyback plan on Thursday, February 20th that authorizes the company to buyback 60,000,000 shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Fiserv 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.