Broyhill Asset Management Makes New $4.58 Million Investment in Fiserv, Inc. (NYSE:FI)

Broyhill Asset Management acquired a new stake in Fiserv, Inc. (NYSE:FI - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 22,305 shares of the business services provider's stock, valued at approximately $4,582,000. Fiserv accounts for 4.1% of Broyhill Asset Management's investment portfolio, making the stock its 4th largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Fiserv during the 4th quarter worth approximately $1,406,452,000. Raymond James Financial Inc. acquired a new stake in shares of Fiserv during the fourth quarter valued at $614,982,000. Alliancebernstein L.P. increased its position in Fiserv by 65.6% during the 4th quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider's stock worth $1,116,919,000 after purchasing an additional 2,153,554 shares in the last quarter. FMR LLC lifted its holdings in 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. Finally, Winslow Capital Management LLC purchased a new stake in shares of Fiserv during the fourth quarter worth about $363,031,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Stock Performance

Shares of NYSE FI traded down $1.60 during midday trading on Friday, reaching $208.51. 3,571,247 shares of the company traded hands, compared to its average volume of 2,715,057. Fiserv, Inc. has a 52 week low of $145.98 and a 52 week high of $238.59. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The company has a market cap of $116.47 billion, a price-to-earnings ratio of 38.68, a PEG ratio of 1.52 and a beta of 0.91. The stock has a 50-day moving average price of $219.74 and a 200 day moving average price of $211.11.

Fiserv (NYSE:FI - Get Free Report) last announced its earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, beating 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%. Sell-side analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its board has authorized a stock buyback plan on Thursday, February 20th that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows 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 board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FI shares. Citigroup increased their price target on Fiserv from $230.00 to $233.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Monness Crespi & Hardt downgraded shares of Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 price target on the stock. in a research note on Wednesday, April 9th. StockNews.com initiated coverage on shares of Fiserv in a research note on Sunday, March 23rd. They set a "buy" rating for the company. Wells Fargo & Company lifted their target price on Fiserv from $240.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Finally, Stephens raised their price objective on Fiserv from $255.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Two 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 company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $234.79.

Insider Activity

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the business'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 sale, the chief operating officer now directly owns 227,711 shares of the company's stock, valued at $53,637,326.05. The trade was a 16.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.75% of the company's stock.

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.