Lee Danner & Bass Inc. Decreases Stake in Fiserv, Inc. (NYSE:FI)

Lee Danner & Bass Inc. lowered its holdings in Fiserv, Inc. (NYSE:FI) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,410 shares of the business services provider’s stock after selling 684 shares during the quarter. Fiserv accounts for about 1.4% of Lee Danner & Bass Inc.’s investment portfolio, making the stock its 14th biggest holding. Lee Danner & Bass Inc.’s holdings in Fiserv were worth $17,750,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of FI. Sanders Capital LLC purchased a new position in shares of Fiserv in the third quarter worth $764,543,000. Raymond James Financial Inc. bought a new stake in shares of Fiserv in the fourth quarter worth $614,982,000. FMR LLC grew its holdings in shares of Fiserv by 17.8% in the third 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 during the period. Madison Investment Advisors LLC bought a new stake in shares of Fiserv in the fourth quarter worth $134,710,000. Finally, Kovitz Investment Group Partners LLC grew 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 worth $109,700,000 after acquiring an additional 561,377 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Stock Performance

NYSE FI opened at $221.77 on Friday. The firm has a market cap of $124.48 billion, a price-to-earnings ratio of 41.15, a price-to-earnings-growth 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. The business has a 50-day moving average price of $220.11 and a 200-day moving average price of $205.70. Fiserv, Inc. has a twelve month low of $145.98 and a twelve month high of $238.59.

Fiserv (NYSE:FI) last posted its earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, topping 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%. As a group, equities research analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on FI shares. Keefe, Bruyette & Woods lifted their price objective on Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company lifted their price objective on Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Susquehanna lifted their price objective on Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, February 10th. Seaport Res Ptn raised Fiserv from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Finally, KeyCorp boosted their price target on Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $239.83.

Insider Buying and Selling

In related news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.75% of the stock is owned by company insiders.

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.