Seaview Investment Managers LLC Invests $9.64 Million in Fiserv, Inc. (NYSE:FI)

Key Points

• Seaview Investment Managers LLC has invested approximately $9.64 million in Fiserv, acquiring 43,633 shares, making it the 18th largest position in their portfolio.
• Recent changes in Fiserv's stake by multiple hedge funds indicate significant institutional interest, with nearly 91% of the stock currently held by institutional investors.
• Fiserv's stock has seen a consensus rating of "Moderate Buy" from analysts, with a current target price of $207.08 following some adjustments in price targets by various firms.

Seaview Investment Managers LLC acquired a new stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 43,633 shares of the business services provider's stock, valued at approximately $9,635,000. Fiserv makes up approximately 3.0% of Seaview Investment Managers LLC's portfolio, making the stock its 18th largest position.

A number of other hedge funds have also recently made changes to their positions in FI. Brighton Jones LLC grew its stake in Fiserv by 91.9% in the 4th quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider's stock worth $872,000 after buying an additional 2,033 shares in the last quarter. SageView Advisory Group LLC raised its position in Fiserv by 10.8% during the fourth quarter. SageView Advisory Group LLC now owns 1,536 shares of the business services provider's stock valued at $316,000 after purchasing an additional 150 shares in the last quarter. CreativeOne Wealth LLC raised its position in Fiserv by 13.6% during the fourth quarter. CreativeOne Wealth LLC now owns 10,326 shares of the business services provider's stock valued at $2,121,000 after purchasing an additional 1,238 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new stake in Fiserv during the fourth quarter worth about $817,000. Finally, Jump Financial LLC boosted its holdings in shares of Fiserv by 116.0% in the 4th quarter. Jump Financial LLC now owns 8,148 shares of the business services provider's stock worth $1,674,000 after purchasing an additional 4,375 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FI has been the subject of a number of recent research reports. Robert W. Baird dropped their target price on Fiserv from $225.00 to $185.00 and set an "outperform" rating for the company in a research report on Thursday, July 24th. Citigroup reduced their target price on shares of Fiserv from $267.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, April 25th. KeyCorp lowered their price target on shares of Fiserv from $250.00 to $200.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Tigress Financial raised their price objective on Fiserv from $244.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Finally, JPMorgan Chase & Co. lowered their target price on Fiserv from $210.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Fiserv presently has a consensus rating of "Moderate Buy" and a consensus target price of $207.08.

Fiserv Stock Up 1.5%

Shares of Fiserv stock opened at $134.24 on Thursday. Fiserv, Inc. has a 1 year low of $128.22 and a 1 year high of $238.59. The firm has a market cap of $72.97 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 0.86 and a beta of 0.91. The company has a 50-day moving average of $158.20 and a 200 day moving average of $188.66. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.09.

Fiserv (NYSE:FI - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share for the quarter, beating analysts' consensus estimates of $2.43 by $0.04. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.20 billion. During the same quarter last year, the firm earned $2.13 earnings per share. The business's revenue for the quarter was up 8.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Adam L. Rosman sold 2,512 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total transaction of $403,628.16. Following the transaction, the insider owned 53,385 shares in the company, valued at $8,577,901.80. This represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew Gelb sold 5,652 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total transaction of $904,320.00. Following the completion of the sale, the executive vice president owned 25,385 shares in the company, valued at $4,061,600. This represents a 18.21% 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.

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