Fiserv, Inc. (NYSE:FI) Shares Sold by Polar Capital Holdings Plc

Polar Capital Holdings Plc lowered its position in Fiserv, Inc. (NYSE:FI) by 52.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,151 shares of the business services provider’s stock after selling 62,481 shares during the period. Polar Capital Holdings Plc’s holdings in Fiserv were worth $11,740,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC lifted its position 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 acquiring an additional 44 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in shares of Fiserv by 1.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,862 shares of the business services provider’s stock valued at $794,000 after acquiring an additional 44 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of Fiserv by 1.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider’s stock valued at $841,000 after acquiring an additional 45 shares during the period. Catalina Capital Group LLC lifted its position in shares of Fiserv by 2.3% during the 4th 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. Finally, Mount Yale Investment Advisors LLC increased its stake in shares of Fiserv by 1.2% during 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. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Stock Down 16.3%

Shares of NYSE FI opened at $158.95 on Friday. Fiserv, Inc. has a 52-week low of $146.25 and a 52-week high of $238.59. The firm has a fifty day moving average of $203.19 and a 200-day moving average of $210.49. The stock has a market capitalization of $88.13 billion, a PE ratio of 29.49, a P/E/G ratio of 1.52 and a beta of 0.97. 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 announced its quarterly earnings data 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. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The company had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same period in the previous year, the company earned $1.88 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its Board of Directors has authorized a share repurchase program on Thursday, February 20th that allows the company to buyback 60,000,000 shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insider Activity

In related news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were 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 directly owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. This represents a 16.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FI. StockNews.com began coverage on shares of Fiserv in a research note on Sunday, March 23rd. They set a “buy” rating for the company. Keefe, Bruyette & Woods dropped their price objective on shares of Fiserv from $260.00 to $240.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Piper Sandler set a $218.00 price objective on shares of Fiserv in a research note on Friday, April 25th. Citigroup dropped their price objective on shares of Fiserv from $267.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Finally, Barclays dropped 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. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $230.00.

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.