Worldquant Millennium Advisors LLC Makes New $554,000 Investment in Fiserv, Inc. (NYSE:FI)

Worldquant Millennium Advisors LLC bought a new position in Fiserv, Inc. (NYSE:FI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,698 shares of the business services provider's stock, valued at approximately $554,000.

Several other large investors also recently added to or reduced their stakes in the business. Waverly Advisors LLC lifted its stake in shares of Fiserv by 325.7% in the fourth quarter. Waverly Advisors LLC now owns 7,500 shares of the business services provider's stock worth $1,541,000 after buying an additional 5,738 shares during the last quarter. Wellington Wealth Strategies LLC. acquired a new stake in shares of Fiserv in the fourth quarter worth $1,570,000. Woodline Partners LP acquired a new stake in shares of Fiserv in the fourth quarter worth $7,018,000. Zurich Insurance Group Ltd FI raised its stake in Fiserv by 17.9% during the 4th quarter. Zurich Insurance Group Ltd FI now owns 371,582 shares of the business services provider's stock valued at $76,330,000 after purchasing an additional 56,434 shares during the last quarter. Finally, Vident Advisory LLC raised its stake in Fiserv by 552.5% during the 4th quarter. Vident Advisory LLC now owns 137,704 shares of the business services provider's stock valued at $28,287,000 after purchasing an additional 116,600 shares during the last quarter. 90.98% of the stock is owned by institutional investors.

Fiserv Trading Down 1.4%

NYSE FI traded down $2.16 on Wednesday, hitting $157.98. The company's stock had a trading volume of 2,066,220 shares, compared to its average volume of 3,092,946. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. Fiserv, Inc. has a 1-year low of $146.25 and a 1-year high of $238.59. The company's 50-day moving average is $194.74 and its 200 day moving average is $208.26. The firm has a market cap of $87.59 billion, a PE ratio of 29.30, a PEG 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. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.86 billion. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The company's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.88 EPS. As a group, analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its Board of Directors has approved a share buyback plan on Thursday, February 20th that allows the company to buyback 60,000,000 shares. This buyback authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FI. BMO Capital Markets dropped their price objective on shares of Fiserv from $254.00 to $232.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Morgan Stanley reissued an "overweight" rating and set a $268.00 price target (up from $267.00) on shares of Fiserv in a research note on Friday, April 25th. Susquehanna dropped their price target on shares of Fiserv from $250.00 to $240.00 and set a "positive" rating for the company in a research note on Friday, April 25th. Citigroup reduced their target price on shares of Fiserv from $267.00 to $240.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, Jefferies Financial Group cut their price target on shares of Fiserv from $180.00 to $165.00 and set a "hold" rating for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $221.60.

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.