Otter Creek Advisors LLC Has $6.11 Million Holdings in Fiserv, Inc. (NYSE:FI)

Otter Creek Advisors LLC lifted its stake in Fiserv, Inc. (NYSE:FI) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,728 shares of the business services provider’s stock after purchasing an additional 101 shares during the period. Fiserv accounts for approximately 4.2% of Otter Creek Advisors LLC’s holdings, making the stock its largest holding. Otter Creek Advisors LLC’s holdings in Fiserv were worth $6,107,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. FMR LLC raised its holdings in Fiserv by 17.8% in the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after purchasing an additional 1,427,664 shares during the period. Sanders Capital LLC bought a new position in Fiserv during the third quarter worth about $764,543,000. Bank of New York Mellon Corp grew its stake in Fiserv by 4.7% in the fourth quarter. Bank of New York Mellon Corp now owns 3,711,072 shares of the business services provider’s stock valued at $762,328,000 after acquiring an additional 164,949 shares during the period. Barclays PLC increased its holdings in shares of Fiserv by 3.0% in the third quarter. Barclays PLC now owns 1,685,157 shares of the business services provider’s stock worth $302,737,000 after acquiring an additional 48,413 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Fiserv by 0.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,317,778 shares of the business services provider’s stock worth $236,739,000 after purchasing an additional 4,218 shares during the period. 90.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FI. KeyCorp increased their target price on Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Keefe, Bruyette & Woods raised their price objective on shares of Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. The Goldman Sachs Group increased their target price on Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Morgan Stanley boosted their price target on Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, StockNews.com lowered Fiserv from a “buy” rating to a “hold” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.83.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the 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 owns 227,711 shares in the company, valued at $53,637,326.05. This represents a 16.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.75% of the company’s stock.

Fiserv Stock Performance

NYSE FI opened at $229.58 on Thursday. Fiserv, Inc. has a 52-week low of $145.98 and a 52-week high of $237.99. The stock has a market cap of $128.86 billion, a PE ratio of 42.59, a P/E/G ratio of 1.52 and a beta of 0.94. The firm has a 50-day moving average of $215.50 and a 200-day moving average of $200.07. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. On average, sell-side analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its Board of Directors has initiated a share buyback program on Thursday, February 20th that authorizes the company to buyback 60,000,000 outstanding shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Fiserv 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.