Quantessence Capital LLC Takes Position in Fiserv, Inc. (NYSE:FI)

Quantessence Capital LLC bought a new position in shares of Fiserv, Inc. (NYSE:FI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,108 shares of the business services provider’s stock, valued at approximately $638,000.

Other hedge funds have also bought and sold shares of the company. Jacobi Capital Management LLC raised its stake in shares of Fiserv by 0.4% during the 4th quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider’s stock valued at $2,281,000 after purchasing an additional 44 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Fiserv by 1.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider’s stock worth $841,000 after buying an additional 45 shares in the last quarter. Catalina Capital Group LLC boosted its position in shares of Fiserv by 2.3% in the fourth quarter. Catalina Capital Group LLC now owns 2,160 shares of the business services provider’s stock valued at $444,000 after acquiring an additional 48 shares during the period. Mount Yale Investment Advisors LLC lifted its stake in Fiserv by 1.2% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 4,126 shares of the business services provider’s stock worth $848,000 after purchasing an additional 50 shares in the last quarter. Finally, Hemington Wealth Management boosted its holdings in Fiserv by 6.1% in the 4th quarter. Hemington Wealth Management now owns 864 shares of the business services provider’s stock valued at $177,000 after purchasing an additional 50 shares during the period. 90.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FI shares. The Goldman Sachs Group upgraded Fiserv from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $246.00 to $260.00 in a research report on Wednesday, April 2nd. Wells Fargo & Company raised their target price on shares of Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Royal Bank of Canada increased their price target on shares of Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Stephens increased their target price on Fiserv from $255.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, BMO Capital Markets lifted their price target on Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Fiserv currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.79.

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.75% of the stock is owned by corporate insiders.

Fiserv Price Performance

Shares of NYSE FI opened at $207.93 on Tuesday. The firm has a market cap of $116.14 billion, a P/E ratio of 38.58, a PEG ratio of 1.52 and a beta of 0.91. The company has a 50 day moving average of $218.91 and a 200 day moving average of $211.85. Fiserv, Inc. has a twelve month low of $146.25 and a twelve month high of $238.59. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86.

Fiserv (NYSE:FI) last released its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 EPS 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%. As a group, research analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 20th that permits the company to buyback 60,000,000 outstanding shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors 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.