34,166 Shares in Fiserv, Inc. (NYSE:FI) Purchased by Woodline Partners LP

Woodline Partners LP purchased a new position in Fiserv, Inc. (NYSE:FI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 34,166 shares of the business services provider's stock, valued at approximately $7,018,000.

Other hedge funds have also recently modified their holdings of the company. Root Financial Partners LLC bought a new stake in Fiserv during the fourth quarter valued at about $257,000. Principal Financial Group Inc. raised its position in Fiserv by 0.8% during the fourth quarter. Principal Financial Group Inc. now owns 929,193 shares of the business services provider's stock valued at $190,875,000 after purchasing an additional 7,183 shares during the period. USAdvisors Wealth Management LLC purchased a new stake in Fiserv during the fourth quarter valued at approximately $322,000. Centricity Wealth Management LLC purchased a new stake in Fiserv during the fourth quarter valued at approximately $79,000. Finally, E. Ohman J or Asset Management AB raised its position in Fiserv by 9.0% during the fourth quarter. E. Ohman J or Asset Management AB now owns 26,100 shares of the business services provider's stock valued at $5,361,000 after purchasing an additional 2,150 shares during the period. Hedge funds and other institutional investors own 90.98% of the company's stock.

Fiserv Stock Performance

Shares of NYSE FI traded down $1.81 during trading on Thursday, reaching $158.93. 1,906,652 shares of the company traded hands, compared to its average volume of 3,108,368. The firm's fifty day simple moving average is $193.59 and its 200 day simple moving average is $207.93. The stock has a market cap of $88.12 billion, a P/E ratio of 29.47, a PEG ratio of 1.52 and a beta of 0.97. Fiserv, Inc. has a 12-month low of $146.25 and a 12-month high of $238.59. 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 issued its earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.06. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The business had revenue of $4.79 billion for the quarter, compared to analysts' expectations of $4.86 billion. During the same period in the previous year, the firm posted $1.88 EPS. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, research analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share 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 buyback 60,000,000 outstanding shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at Fiserv

In other news, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total transaction of $403,628.16. Following the sale, the insider now owns 53,385 shares in the company, valued at approximately $8,577,901.80. The trade was a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.74% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on FI shares. Barclays reduced their price target on Fiserv from $265.00 to $230.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Monness Crespi & Hardt downgraded Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 price target on the stock. in a report on Wednesday, April 9th. Wells Fargo & Company increased their price objective on Fiserv from $240.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Keefe, Bruyette & Woods dropped their price objective on Fiserv from $240.00 to $200.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 21st. Finally, Mizuho set a $200.00 price objective on Fiserv in a research note on Thursday, May 15th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $221.84.

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.