AlphaQuest LLC Increases Stake in Fiserv, Inc. (NYSE:FI)

AlphaQuest LLC grew its stake in Fiserv, Inc. (NYSE:FI) by 120.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,610 shares of the business services provider’s stock after purchasing an additional 881 shares during the period. AlphaQuest LLC’s holdings in Fiserv were worth $331,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC raised its holdings in 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 purchasing an additional 1,427,664 shares during the period. Sanders Capital LLC acquired a new position in shares of Fiserv during the 3rd quarter worth approximately $764,543,000. Bank of New York Mellon Corp lifted its position in shares of Fiserv by 4.7% during the 4th quarter. Bank of New York Mellon Corp now owns 3,711,072 shares of the business services provider’s stock valued at $762,328,000 after buying an additional 164,949 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Fiserv by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,620,785 shares of the business services provider’s stock valued at $743,782,000 after acquiring an additional 90,475 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Fiserv in the 4th quarter worth $614,982,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

FI has been the topic of several research analyst reports. Morgan Stanley lifted their target price on shares of Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Royal Bank of Canada lifted their price objective on Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Citigroup increased their target price on Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Seaport Res Ptn raised Fiserv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Finally, StockNews.com downgraded Fiserv from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $239.83.

Insider Activity

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

Fiserv Price Performance

NYSE:FI opened at $214.91 on Friday. Fiserv, Inc. has a 52 week low of $145.98 and a 52 week high of $238.59. The stock’s fifty day moving average is $218.96 and its two-hundred day moving average is $204.40. The company has a market capitalization of $120.62 billion, a P/E ratio of 39.87, a P/E/G ratio of 1.52 and a beta of 0.93. 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 issued its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. Equities analysts expect that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its Board of Directors has initiated a share buyback program on Thursday, February 20th that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Fiserv Company 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.