Chicago Capital LLC Has $3.13 Million Stake in Fiserv, Inc. (NYSE:FI)

Chicago Capital LLC increased its holdings in Fiserv, Inc. (NYSE:FI - Free Report) by 69.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,169 shares of the business services provider's stock after acquiring an additional 5,809 shares during the quarter. Chicago Capital LLC's holdings in Fiserv were worth $3,129,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of FI. Jacobi Capital Management LLC increased its stake in Fiserv by 0.4% during the fourth quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider's stock valued at $2,281,000 after purchasing an additional 44 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Fiserv by 1.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,862 shares of the business services provider's stock worth $794,000 after acquiring an additional 44 shares during the period. Parkside Financial Bank & Trust boosted its stake in Fiserv by 1.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider's stock valued at $841,000 after purchasing an additional 45 shares in the last quarter. Adero Partners LLC lifted its holdings in Fiserv by 2.3% in the 1st quarter. Adero Partners LLC now owns 2,490 shares of the business services provider's stock valued at $550,000 after acquiring an additional 55 shares during the last quarter. Finally, Pointe Capital Management LLC grew its position in Fiserv by 1.8% in the fourth quarter. Pointe Capital Management LLC now owns 3,158 shares of the business services provider's stock worth $649,000 after buying an additional 56 shares during the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Fiserv Price Performance

FI stock traded up $1.61 during midday trading on Friday, reaching $162.97. 8,513,473 shares of the company's stock traded hands, compared to its average volume of 3,301,945. The company has a 50-day simple moving average of $178.13 and a two-hundred day simple moving average of $202.10. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.02. Fiserv, Inc. has a 1-year low of $146.46 and a 1-year high of $238.59. The company has a market cap of $90.36 billion, a price-to-earnings ratio of 28.79, a PEG ratio of 1.00 and a beta of 0.90.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.06. Fiserv had a net margin of 15.68% and a return on equity of 18.74%. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.86 billion. Fiserv's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.88 earnings per share. On average, analysts anticipate 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. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

FI has been the subject of several recent analyst reports. Morgan Stanley reiterated an "overweight" rating and issued a $268.00 target price (up from $267.00) on shares of 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 for the company in a research report on Monday, April 28th. Truist Financial started coverage on Fiserv in a research report on Monday, June 2nd. They set a "buy" rating and a $181.00 target price for the company. Monness Crespi & Hardt lowered Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 price objective on the stock. in a research note on Wednesday, April 9th. Finally, Tigress Financial raised their price target on shares of Fiserv from $244.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $221.23.

Insider Buying and Selling

In related news, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total value of $904,320.00. Following the sale, the executive vice president now directly owns 25,385 shares in the company, valued at $4,061,600. This trade represents a 18.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total transaction of $403,628.16. Following the transaction, the insider now directly owns 53,385 shares in the company, valued at $8,577,901.80. The trade was a 4.49% decrease in their position. The disclosure for this sale can be found here. Corporate 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.