Sovereign s Capital Management LLC Takes Position in Fiserv, Inc. (NYSE:FI)

Sovereign s Capital Management LLC acquired a new position in Fiserv, Inc. (NYSE:FI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,954 shares of the business services provider's stock, valued at approximately $3,483,000. Fiserv makes up about 2.2% of Sovereign s Capital Management LLC's investment portfolio, making the stock its 15th largest holding.

Several other hedge funds have also bought and sold shares of the stock. Valley National Advisers Inc. purchased a new position in shares of Fiserv during the 4th quarter valued at approximately $29,000. Marshall Investment Management LLC purchased a new position in shares of Fiserv during the 4th quarter valued at approximately $29,000. Compass Financial Services Inc purchased a new position in shares of Fiserv during the 4th quarter valued at approximately $31,000. Campbell Capital Management Inc. purchased a new position in shares of Fiserv during the 4th quarter valued at approximately $37,000. Finally, Quarry LP lifted its position in shares of Fiserv by 51.9% during the 4th quarter. Quarry LP now owns 205 shares of the business services provider's stock valued at $42,000 after buying an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company's stock.

Fiserv Trading Down 0.5%

Fiserv stock traded down $0.84 during midday trading on Thursday, reaching $161.38. 5,427,414 shares of the stock traded hands, compared to its average volume of 3,042,817. The company has a 50-day simple moving average of $199.50 and a two-hundred day simple moving average of $209.55. Fiserv, Inc. has a 12-month low of $146.25 and a 12-month high of $238.59. The firm has a market cap of $89.48 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86.

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

Fiserv declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 20th that authorizes the company to repurchase 60,000,000 shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FI. UBS Group decreased their price objective on Fiserv from $265.00 to $255.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Redburn Atlantic restated a "sell" rating and issued a $150.00 price objective on shares of Fiserv in a report on Thursday, April 17th. Barclays decreased their price objective on Fiserv from $265.00 to $230.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Susquehanna decreased their price objective on Fiserv from $250.00 to $240.00 and set a "positive" rating on the stock in a report on Friday, April 25th. Finally, Mizuho set a $200.00 price objective on Fiserv in a report on Thursday, May 15th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Fiserv has an average rating of "Moderate Buy" and a consensus target price of $224.20.

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.