Bowie Capital Management LLC Has $57.42 Million Stake in Fiserv, Inc. (NYSE:FI)

Bowie Capital Management LLC grew its stake in shares of Fiserv, Inc. (NYSE:FI) by 7.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 319,616 shares of the business services provider’s stock after acquiring an additional 23,420 shares during the period. Fiserv accounts for 3.0% of Bowie Capital Management LLC’s holdings, making the stock its 18th largest position. Bowie Capital Management LLC owned about 0.06% of Fiserv worth $57,419,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its holdings in Fiserv by 0.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,173,941 shares of the business services provider’s stock valued at $1,069,204,000 after buying an additional 64,332 shares during the period. Legal & General Group Plc increased its position in shares of Fiserv by 1.9% during the second quarter. Legal & General Group Plc now owns 4,612,789 shares of the business services provider’s stock worth $687,489,000 after buying an additional 85,598 shares during the period. Dimensional Fund Advisors LP increased its holdings in Fiserv by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,960,012 shares of the business services provider’s stock worth $441,173,000 after purchasing an additional 225,159 shares in the last quarter. Blair William & Co. IL increased its stake in Fiserv by 2.5% in the second quarter. Blair William & Co. IL now owns 2,171,391 shares of the business services provider’s stock valued at $323,624,000 after purchasing an additional 52,748 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in Fiserv by 1.0% in the second quarter. Raymond James & Associates now owns 2,157,827 shares of the business services provider’s stock worth $321,602,000 after acquiring an additional 20,591 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

Fiserv Price Performance

Fiserv stock traded down $0.76 during midday trading on Monday, hitting $220.80. 191,414 shares of the company’s stock were exchanged, compared to its average volume of 2,470,553. The stock has a 50-day moving average price of $195.77 and a two-hundred day moving average price of $171.00. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $125.62 billion, a P/E ratio of 42.61, a PEG ratio of 1.69 and a beta of 0.92. Fiserv, Inc. has a 52-week low of $125.42 and a 52-week high of $222.05.

Fiserv (NYSE:FI) last released its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.04. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the prior year, the firm earned $1.96 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. On average, equities research analysts forecast that Fiserv, Inc. will post 8.77 earnings per share for the current year.

Insider Activity at Fiserv

In related news, CEO Frank Bisignano sold 145,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the transaction, the chief executive officer now directly owns 2,965,084 shares in the company, valued at $525,916,949.08. This trade represents a 4.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Kenneth Best sold 20,821 shares of Fiserv stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total value of $4,468,394.81. Following the completion of the transaction, the chief accounting officer now directly owns 38,771 shares in the company, valued at $8,320,644.31. This trade represents a 34.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 235,821 shares of company stock valued at $44,299,745. Corporate insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on FI shares. Mizuho lifted their price target on Fiserv from $183.00 to $222.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Compass Point initiated coverage on Fiserv in a research report on Wednesday, November 20th. They set a “buy” rating and a $278.00 target price on the stock. StockNews.com raised Fiserv from a “hold” rating to a “buy” rating in a research report on Thursday, September 26th. Barclays lifted their price objective on shares of Fiserv from $185.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company increased their price target on Fiserv from $215.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Fiserv presently has a consensus rating of “Moderate Buy” and a consensus target price of $214.29.

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.