Petros Family Wealth LLC Acquires New Shares in Fiserv, Inc. (NYSE:FI)

Petros Family Wealth LLC purchased a new position in shares of Fiserv, Inc. (NYSE:FI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,358 shares of the business services provider's stock, valued at approximately $279,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Fiserv by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 11,891,207 shares of the business services provider's stock worth $2,435,280,000 after buying an additional 218,833 shares during the period. FMR LLC increased its position in shares of Fiserv by 22.5% during the fourth quarter. FMR LLC now owns 11,568,895 shares of the business services provider's stock worth $2,376,482,000 after acquiring an additional 2,126,419 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Fiserv by 16.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,030,889 shares of the business services provider's stock valued at $1,649,705,000 after acquiring an additional 1,121,597 shares in the last quarter. Norges Bank purchased a new stake in shares of Fiserv in the fourth quarter valued at approximately $1,406,452,000. Finally, Alliancebernstein L.P. grew its stake in Fiserv by 65.6% in 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 purchasing an additional 2,153,554 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $235.55, for a total value of $10,599,750.00. Following the completion of the sale, the chief operating officer now directly owns 227,711 shares in the company, valued at $53,637,326.05. This represents a 16.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is owned by insiders.

Remove Ads

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FI. Keefe, Bruyette & Woods lifted 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. Wells Fargo & Company upped their price objective 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. Morgan Stanley upped their price target on shares of Fiserv from $258.00 to $267.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Citigroup lifted their price target on Fiserv from $230.00 to $233.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Finally, The Goldman Sachs Group upgraded shares of Fiserv from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $246.00 to $260.00 in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Fiserv has a consensus rating of "Moderate Buy" and a consensus price target of $238.48.

Fiserv Price Performance

Shares of FI traded down $2.53 during mid-day trading on Wednesday, hitting $210.30. 2,351,032 shares of the company were exchanged, compared to its average volume of 2,714,885. The stock has a market cap of $117.47 billion, a price-to-earnings ratio of 39.02, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91. Fiserv, Inc. has a 1-year low of $145.98 and a 1-year high of $238.59. The company has a 50 day moving average of $220.58 and a 200-day moving average of $210.92. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, beating analysts' consensus estimates of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. Analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its Board of Directors has initiated a share buyback plan on Thursday, February 20th that permits the company to repurchase 60,000,000 shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

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.