Perennial Advisors LLC Purchases New Position in Fiserv, Inc. (NYSE:FI)

Perennial Advisors LLC purchased a new position in Fiserv, Inc. (NYSE:FI - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 74,835 shares of the business services provider's stock, valued at approximately $15,373,000. Fiserv comprises about 3.3% of Perennial Advisors LLC's portfolio, making the stock its 7th biggest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Fiserv during the fourth quarter worth about $1,406,452,000. Raymond James Financial Inc. acquired a new position in Fiserv during the fourth quarter worth approximately $614,982,000. Kovitz Investment Group Partners LLC lifted its stake in 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 valued at $576,527,000 after buying an additional 2,174,025 shares during the last quarter. Alliancebernstein L.P. boosted 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 valued at $1,116,919,000 after acquiring an additional 2,153,554 shares during the period. Finally, FMR LLC grew 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 last quarter. Institutional investors and hedge funds own 90.98% of the company's stock.

Fiserv Stock Performance

FI traded down $1.41 during trading on Thursday, reaching $159.33. 8,233,551 shares of the company were exchanged, compared to its average volume of 3,133,023. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The stock has a market cap of $88.34 billion, a P/E ratio of 29.56, a PEG ratio of 1.52 and a beta of 0.97. Fiserv, Inc. has a 52 week low of $146.25 and a 52 week high of $238.59. The firm has a 50 day moving average of $193.59 and a 200 day moving average of $207.93.

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

Fiserv announced that its board has approved a share buyback 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 reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Tigress Financial boosted their price target on Fiserv from $244.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday. Redburn Atlantic reissued a "sell" rating and issued a $150.00 target price on shares of Fiserv in a report on Thursday, April 17th. KeyCorp increased their price target on Fiserv from $250.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. JPMorgan Chase & Co. lowered their price objective on shares of Fiserv from $211.00 to $210.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Finally, Monness Crespi & Hardt downgraded shares of Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 price objective for the company. in a research report on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $221.84.

Insider Transactions at Fiserv

In other news, insider Adam L. Rosman sold 2,512 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total value of $403,628.16. Following the completion of the sale, the insider now directly owns 53,385 shares of the company's stock, valued at approximately $8,577,901.80. This represents a 4.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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.