Engle Capital Management L.P. Reduces Stock Position in Fiserv, Inc. (NYSE:FI)

Engle Capital Management L.P. lowered its holdings in Fiserv, Inc. (NYSE:FI - Free Report) by 12.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,000 shares of the business services provider's stock after selling 13,562 shares during the quarter. Fiserv accounts for about 5.9% of Engle Capital Management L.P.'s investment portfolio, making the stock its 7th biggest position. Engle Capital Management L.P.'s holdings in Fiserv were worth $19,720,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in FI. Ethic Inc. lifted its holdings in Fiserv by 15.0% in the fourth quarter. Ethic Inc. now owns 102,023 shares of the business services provider's stock valued at $20,958,000 after buying an additional 13,325 shares during the period. Fiduciary Trust Co grew its position in Fiserv by 5.3% in the fourth quarter. Fiduciary Trust Co now owns 29,179 shares of the business services provider's stock valued at $5,994,000 after purchasing an additional 1,470 shares in the last quarter. FJ Capital Management LLC bought a new position in Fiserv in the fourth quarter valued at $339,000. Clark Capital Management Group Inc. grew its position in shares of Fiserv by 0.5% in the 4th quarter. Clark Capital Management Group Inc. now owns 344,602 shares of the business services provider's stock valued at $70,788,000 after acquiring an additional 1,557 shares during the period. Finally, Deutsche Bank AG grew its position in shares of Fiserv by 3.9% in the 4th quarter. Deutsche Bank AG now owns 2,076,282 shares of the business services provider's stock valued at $426,510,000 after acquiring an additional 78,672 shares during the period. 90.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on FI shares. Keefe, Bruyette & Woods reduced their target price on shares of Fiserv from $260.00 to $240.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Seaport Res Ptn upgraded shares of Fiserv from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 14th. Barclays lowered their price objective on shares of Fiserv from $265.00 to $230.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. StockNews.com began coverage on shares of Fiserv in a research report on Sunday, March 23rd. They issued a "buy" rating for the company. Finally, Stephens upped 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. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $230.00.

Fiserv Stock Performance

FI traded up $2.55 during trading on Monday, hitting $186.62. 3,096,516 shares of the stock were exchanged, compared to its average volume of 2,848,496. The firm has a market capitalization of $103.47 billion, a P/E ratio of 34.62, a PEG ratio of 1.52 and a beta of 0.97. Fiserv, Inc. has a 1-year low of $146.25 and a 1-year high of $238.59. The stock has a fifty day moving average price of $206.23 and a two-hundred day moving average price of $211.16. 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 (NYSE:FI - Get Free Report) last posted its quarterly 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 firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.86 billion. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.88 earnings per share. As a group, sell-side analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv declared that its Board of Directors has approved a stock repurchase program on Thursday, February 20th that permits the company to repurchase 60,000,000 shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In related news, COO Guy Chiarello sold 45,000 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the sale, the chief operating officer now directly 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 this link. 0.74% of the stock is currently owned by company insiders.

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.