Fiserv, Inc. (NYSE:FI) Stake Lifted by Steamboat Capital Partners LLC

Steamboat Capital Partners LLC grew its position in Fiserv, Inc. (NYSE:FI - Free Report) by 14.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 89,879 shares of the business services provider's stock after acquiring an additional 11,535 shares during the period. Fiserv comprises approximately 5.7% of Steamboat Capital Partners LLC's investment portfolio, making the stock its 6th biggest position. Steamboat Capital Partners LLC's holdings in Fiserv were worth $18,463,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Geode Capital Management LLC lifted its stake in Fiserv by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 11,891,207 shares of the business services provider's stock valued at $2,435,280,000 after buying an additional 218,833 shares in the last quarter. FMR LLC lifted its position in shares of 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 in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Fiserv by 16.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,030,889 shares of the business services provider's stock valued at $1,649,705,000 after acquiring an additional 1,121,597 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Fiserv by 5.2% in the fourth quarter. Nuveen Asset Management LLC now owns 6,936,554 shares of the business services provider's stock worth $1,424,907,000 after acquiring an additional 340,938 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Fiserv during the fourth quarter worth approximately $1,406,452,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $235.55, for a total value of $10,599,750.00. Following the completion of the transaction, the chief operating officer now owns 227,711 shares in the company, valued at approximately $53,637,326.05. This trade represents a 16.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.74% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FI shares. Morgan Stanley restated an "overweight" rating and issued a $268.00 price objective (up previously from $267.00) on shares of Fiserv in a report on Friday, April 25th. UBS Group decreased their price target on shares of Fiserv from $265.00 to $255.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Royal Bank of Canada set a $237.00 price target on shares of Fiserv in a research report on Friday, April 25th. BMO Capital Markets decreased their target price on shares of Fiserv from $254.00 to $232.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Finally, Piper Sandler set a $218.00 target price on Fiserv in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $225.80.

Fiserv Trading Down 1.9%

Shares of FI stock traded down $3.13 on Tuesday, hitting $166.01. The stock had a trading volume of 5,133,658 shares, compared to its average volume of 3,011,204. The company's 50 day moving average price is $200.54 and its 200-day moving average price is $209.88. Fiserv, Inc. has a 1 year low of $146.25 and a 1 year high of $238.59. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The firm has a market capitalization of $92.04 billion, a P/E ratio of 30.80, a P/E/G ratio of 1.52 and a beta of 0.97.

Fiserv (NYSE:FI - Get Free Report) last issued its quarterly 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 15.31% and a return on equity of 17.93%. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same period in the prior year, the firm earned $1.88 earnings per share. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. 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 share buyback plan on Thursday, February 20th that permits the company to repurchase 60,000,000 outstanding shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Fiserv Company 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.