Patient Capital Management LLC Decreases Stock Position in Fiserv, Inc. (NYSE:FI)

Patient Capital Management LLC lowered its stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 92.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,042 shares of the business services provider's stock after selling 122,828 shares during the period. Patient Capital Management LLC's holdings in Fiserv were worth $2,063,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Valley National Advisers Inc. purchased a new stake in shares of Fiserv during the fourth quarter worth $29,000. Marshall Investment Management LLC bought a new position in shares of Fiserv in the fourth quarter worth $29,000. Compass Financial Services Inc bought a new position in shares of Fiserv in the fourth quarter worth $31,000. Campbell Capital Management Inc. bought a new position in shares of Fiserv in the fourth quarter worth $37,000. Finally, Quarry LP increased its holdings in shares of Fiserv by 51.9% in the fourth quarter. Quarry LP now owns 205 shares of the business services provider's stock worth $42,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 90.98% of the company's stock.

Insider Activity

In other news, COO Guy Chiarello sold 45,000 shares of Fiserv 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.74% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on FI shares. Barclays decreased their price target on shares of 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 cut shares of 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. StockNews.com initiated coverage on shares of Fiserv in a report on Sunday, March 23rd. They issued a "buy" rating on the stock. KeyCorp increased their target price on Fiserv from $250.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Finally, The Goldman Sachs Group reduced their target price on Fiserv from $223.00 to $194.00 and set a "buy" rating on the stock in a research note on Monday. Two equities 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $225.80.

Fiserv Stock Up 1.4%

FI traded up $2.40 on Monday, hitting $169.06. The company had a trading volume of 2,597,566 shares, compared to its average volume of 2,985,773. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. Fiserv, Inc. has a 52-week low of $146.25 and a 52-week high of $238.59. The stock has a fifty day simple moving average of $202.24 and a 200-day simple moving average of $210.41. The firm has a market capitalization of $93.73 billion, a P/E ratio of 31.37, 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 data on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, topping the consensus estimate of $2.08 by $0.06. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same period last year, the business posted $1.88 earnings per share. Fiserv's quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its Board of Directors has authorized a share 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 repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are 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.