Point72 Europe London LLP Acquires New Stake in Fiserv, Inc. (NYSE:FI)

Point72 Europe London LLP bought a new position in Fiserv, Inc. (NYSE:FI) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 108,200 shares of the business services provider’s stock, valued at approximately $22,226,000. Fiserv comprises approximately 1.3% of Point72 Europe London LLP’s portfolio, making the stock its 23rd biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank bought a new position in shares of Fiserv during the 4th quarter valued at about $1,406,452,000. Raymond James Financial Inc. bought a new position in Fiserv during the fourth quarter valued at approximately $614,982,000. Kovitz Investment Group Partners LLC raised its stake in shares of Fiserv by 343.7% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider’s stock worth $576,527,000 after acquiring an additional 2,174,025 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Fiserv by 65.6% during the fourth quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock worth $1,116,919,000 after acquiring an additional 2,153,554 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Fiserv by 22.5% in the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider’s stock valued at $2,376,482,000 after purchasing an additional 2,126,419 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insider Activity

In related 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 of the company’s stock, valued at $53,637,326.05. This trade represents a 16.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.74% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Stephens boosted their price target on shares of Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Barclays dropped their target price on Fiserv from $265.00 to $230.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Piper Sandler set a $218.00 price target on Fiserv in a research note on Friday, April 25th. Royal Bank of Canada set a $237.00 price objective on Fiserv in a research note on Friday, April 25th. Finally, Wells Fargo & Company lifted their target price on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $230.00.

Fiserv Trading Down 0.6%

Fiserv stock opened at $189.76 on Thursday. Fiserv, Inc. has a 12 month low of $146.25 and a 12 month high of $238.59. The company has a market capitalization of $105.21 billion, a price-to-earnings ratio of 35.21, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97. The business’s fifty day simple moving average is $204.31 and its two-hundred day simple moving average is $210.78. 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 quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, beating the consensus estimate of $2.08 by $0.06. The company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.86 billion. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. Fiserv’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.88 EPS. As a group, equities analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its Board of Directors has initiated a share repurchase plan on Thursday, February 20th that authorizes the company to buyback 60,000,000 outstanding shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

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.