Port Capital LLC Sells 12,524 Shares of Fiserv, Inc. (NYSE:FI)

Port Capital LLC trimmed its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 336,427 shares of the business services provider's stock after selling 12,524 shares during the period. Fiserv accounts for 3.2% of Port Capital LLC's investment portfolio, making the stock its 11th biggest holding. Port Capital LLC owned 0.06% of Fiserv worth $69,109,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FI. Norges Bank purchased a new position in shares of Fiserv during the 4th quarter valued at $1,406,452,000. Raymond James Financial Inc. acquired a new stake in shares of Fiserv in the 4th quarter valued at $614,982,000. Kovitz Investment Group Partners LLC lifted its stake in shares of Fiserv by 343.7% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider's stock valued at $576,527,000 after purchasing an additional 2,174,025 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Fiserv by 65.6% in the 4th quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider's stock valued at $1,116,919,000 after purchasing an additional 2,153,554 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Fiserv by 22.5% in the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider's stock valued at $2,376,482,000 after purchasing an additional 2,126,419 shares during the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Fiserv Stock Performance

NYSE FI traded up $7.50 during midday trading on Friday, hitting $166.63. The company had a trading volume of 11,450,947 shares, compared to its average volume of 2,986,383. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. The firm has a fifty day simple moving average of $202.24 and a two-hundred day simple moving average of $210.33. Fiserv, Inc. has a fifty-two week low of $146.25 and a fifty-two week high of $238.59. The stock has a market cap of $92.38 billion, a price-to-earnings ratio of 30.91, a P/E/G ratio of 1.52 and a beta of 0.97.

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

Fiserv announced that its board has authorized a share buyback program on Thursday, February 20th that allows the company to buyback 60,000,000 shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FI shares. Stephens lifted their price objective on shares of Fiserv from $255.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Morgan Stanley reaffirmed an "overweight" rating and issued a $268.00 price objective (up previously from $267.00) on shares of Fiserv in a research note on Friday, April 25th. Susquehanna reduced their price objective 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. KeyCorp lifted their price objective on shares of Fiserv from $250.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Finally, Citigroup reduced their price objective on shares of Fiserv from $267.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $230.00.

Insider Buying and Selling at Fiserv

In other news, COO Guy Chiarello sold 45,000 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the transaction, the chief operating officer now directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. This represents a 16.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.74% of the company's stock.

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.