Pointe Capital Management LLC Buys 56 Shares of Fiserv, Inc. (NYSE:FI)

Pointe Capital Management LLC boosted its position in Fiserv, Inc. (NYSE:FIFree Report) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,158 shares of the business services provider’s stock after acquiring an additional 56 shares during the period. Pointe Capital Management LLC’s holdings in Fiserv were worth $649,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Sanders Capital LLC bought a new position in Fiserv during the 3rd quarter valued at $764,543,000. FMR LLC grew its stake in shares of Fiserv by 17.8% in the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after acquiring an additional 1,427,664 shares in the last quarter. Kovitz Investment Group Partners LLC raised its holdings in shares of Fiserv by 788.7% in the third quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock valued at $109,700,000 after purchasing an additional 561,377 shares during the last quarter. Mizuho Securities USA LLC lifted its position in shares of Fiserv by 1,238.6% during the third quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock valued at $108,488,000 after purchasing an additional 558,774 shares in the last quarter. Finally, Cardano Risk Management B.V. purchased a new position in Fiserv during the fourth quarter worth about $97,254,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Price Performance

FI stock opened at $232.34 on Wednesday. The firm has a 50 day moving average of $214.94 and a 200-day moving average of $199.86. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $130.41 billion, a P/E ratio of 43.11, a price-to-earnings-growth ratio of 1.52 and a beta of 0.94. Fiserv, Inc. has a 12 month low of $145.98 and a 12 month high of $237.99.

Fiserv (NYSE:FIGet Free Report) last released its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. As a group, sell-side 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 stock repurchase plan on Thursday, February 20th that authorizes the company to buyback 60,000,000 shares. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, COO Guy Chiarello sold 45,000 shares of Fiserv 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 in the company, valued at approximately $53,637,326.05. This trade represents a 16.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.75% of the company’s stock.

Wall Street Analysts Forecast Growth

FI has been the subject of several analyst reports. Oppenheimer increased their price objective on shares of Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Morgan Stanley increased their price target on Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Citigroup boosted their price objective on Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods raised their target price on Fiserv from $238.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Royal Bank of Canada lifted their target price on Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Fiserv has an average rating of “Moderate Buy” and a consensus price target of $239.83.

Check Out Our Latest Analysis on FI

Fiserv Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Fiserv (NYSE:FI)

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