Fiserv, Inc. (NYSE:FI) Shares Purchased by Kensico Capital Management Corp

Kensico Capital Management Corp boosted its holdings in Fiserv, Inc. (NYSE:FI - Free Report) by 6.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,388,200 shares of the business services provider's stock after acquiring an additional 88,200 shares during the quarter. Fiserv accounts for about 6.5% of Kensico Capital Management Corp's investment portfolio, making the stock its 4th biggest position. Kensico Capital Management Corp owned about 0.24% of Fiserv worth $285,164,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FI. Norges Bank bought a new stake in shares of Fiserv during the fourth quarter worth $1,406,452,000. Raymond James Financial Inc. bought a new position in Fiserv in the fourth quarter valued at $614,982,000. Kovitz Investment Group Partners LLC grew its position in Fiserv by 343.7% in the fourth 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 in the last quarter. Alliancebernstein L.P. grew its position in Fiserv by 65.6% in the fourth 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 in the last quarter. Finally, FMR LLC grew its position in Fiserv by 22.5% in the fourth 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 in the last quarter. Institutional investors own 90.98% of the company's stock.

Fiserv Stock Down 0.6%

Shares of FI stock traded down $1.24 during trading hours on Wednesday, reaching $189.76. 3,791,264 shares of the company's stock were exchanged, compared to its average volume of 2,866,081. The stock's fifty day moving average price is $204.31 and its two-hundred day moving average price is $210.78. The stock has a market cap of $105.21 billion, a PE ratio of 35.21, 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 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 announced 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 during the quarter, compared to the consensus estimate of $4.86 billion. During the same period in the prior year, the company posted $1.88 EPS. The business's quarterly revenue was up 5.1% on a year-over-year basis. Research analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its board has approved a share repurchase 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 buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FI. Piper Sandler set a $218.00 price objective on Fiserv in a report on Friday, April 25th. Royal Bank of Canada set a $237.00 price objective on Fiserv in a report on Friday, April 25th. The Goldman Sachs Group upgraded Fiserv from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $246.00 to $260.00 in a report on Wednesday, April 2nd. Susquehanna reduced their price objective on Fiserv from $250.00 to $240.00 and set a "positive" rating for the company in a report on Friday, April 25th. Finally, Wells Fargo & Company boosted their price objective on Fiserv from $240.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. 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. Based on data from MarketBeat, Fiserv currently has an average rating of "Moderate Buy" and a consensus price target of $230.00.

Insider Activity

In related news, COO Guy Chiarello sold 45,000 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $235.55, for a total value 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 represents a 16.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate 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.