Elefante Mark B Makes New $5.07 Million Investment in Fiserv, Inc. (NYSE:FI)

Elefante Mark B acquired a new position in Fiserv, Inc. (NYSE:FI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 24,695 shares of the business services provider's stock, valued at approximately $5,073,000. Fiserv makes up approximately 4.6% of Elefante Mark B's portfolio, making the stock its 5th largest position.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Fiserv in the fourth quarter worth $1,406,452,000. Raymond James Financial Inc. bought a new position in shares of Fiserv in the fourth quarter worth $614,982,000. Kovitz Investment Group Partners LLC increased its holdings in shares of Fiserv by 343.7% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider's stock worth $576,527,000 after purchasing an additional 2,174,025 shares during the period. Alliancebernstein L.P. increased its holdings in shares of 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 during the period. Finally, FMR LLC increased its stake in Fiserv by 22.5% in the fourth quarter. FMR LLC now owns 11,568,895 shares of the business services provider's stock valued at $2,376,482,000 after acquiring an additional 2,126,419 shares during the last quarter. 90.98% of the stock is owned by institutional investors.

Fiserv Stock Performance

NYSE FI traded up $4.18 on Tuesday, hitting $191.00. The stock had a trading volume of 4,664,522 shares, compared to its average volume of 2,855,734. Fiserv, Inc. has a one year low of $146.25 and a one year high of $238.59. 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 stock has a market cap of $105.90 billion, a price-to-earnings ratio of 35.44, a P/E/G ratio of 1.52 and a beta of 0.97. The company's 50-day moving average is $205.45 and its two-hundred day moving average is $211.07.

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

Fiserv announced that its Board of Directors has approved a stock 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 reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have issued reports on FI shares. Seaport Res Ptn upgraded shares of Fiserv from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods dropped their target price on shares of Fiserv from $260.00 to $240.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Susquehanna dropped their target price on shares of Fiserv from $250.00 to $240.00 and set a "positive" rating for the company in a report on Friday, April 25th. Piper Sandler set a $218.00 target price on shares of Fiserv in a report on Friday, April 25th. Finally, The Goldman Sachs Group upgraded shares of Fiserv from a "neutral" rating to a "buy" rating and increased their target price for the stock from $246.00 to $260.00 in a report on Wednesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $230.00.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were 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 owns 227,711 shares in the company, valued at approximately $53,637,326.05. This represents a 16.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.74% 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.