Bowie Capital Management LLC Boosts Stock Position in Fiserv, Inc. (NYSE:FI)

Bowie Capital Management LLC boosted its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 343,831 shares of the business services provider's stock after purchasing an additional 24,215 shares during the period. Fiserv makes up about 3.7% of Bowie Capital Management LLC's investment portfolio, making the stock its 15th biggest holding. Bowie Capital Management LLC owned approximately 0.06% of Fiserv worth $70,630,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of FI. Valley National Advisers Inc. bought a new stake in shares of Fiserv during the 4th quarter worth $29,000. Marshall Investment Management LLC acquired a new position in Fiserv during the 4th quarter valued at $29,000. Compass Financial Services Inc bought a new stake in shares of Fiserv during the fourth quarter valued at approximately $31,000. Campbell Capital Management Inc. bought a new stake in shares of Fiserv in the 4th quarter worth about $37,000. Finally, Quarry LP boosted its holdings in shares of Fiserv by 51.9% in the 4th quarter. Quarry LP now owns 205 shares of the business services provider's stock worth $42,000 after acquiring an additional 70 shares in the last quarter. Institutional investors own 90.98% of the company's stock.

Fiserv Trading Down 0.4 %

Shares of FI traded down $0.81 during mid-day trading on Thursday, reaching $181.38. 6,664,749 shares of the company's stock traded hands, compared to its average volume of 2,838,437. The stock's 50-day moving average is $208.15 and its two-hundred day moving average is $211.26. The stock has a market cap of $100.56 billion, a P/E ratio of 33.65, a P/E/G ratio of 1.52 and a beta of 0.97. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. Fiserv, Inc. has a 12 month low of $146.25 and a 12 month high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last announced its earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.06. The company had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.86 billion. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. Fiserv's revenue was up 5.1% compared to the same quarter last year. During the same period last year, the firm earned $1.88 earnings per share. Research analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its board has initiated a stock buyback plan on Thursday, February 20th that permits the company to repurchase 60,000,000 outstanding shares. This repurchase authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

FI has been the subject of several recent research reports. Morgan Stanley reiterated an "overweight" rating and set a $268.00 target price (up previously from $267.00) on shares of Fiserv in a research report on Friday, April 25th. The Goldman Sachs Group upgraded Fiserv from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $246.00 to $260.00 in a research note on Wednesday, April 2nd. Piper Sandler set a $218.00 price objective on Fiserv in a report on Friday, April 25th. Barclays decreased their target price on shares of Fiserv from $265.00 to $230.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Finally, Royal Bank of Canada set a $237.00 target price on shares of Fiserv in a report on Friday, April 25th. Two analysts have rated the stock with a sell rating, one has given a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $230.00.

Insider Transactions at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the firm'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 of the company's stock, valued at $53,637,326.05. This trade represents a 16.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.74% of the company's stock.

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.