Fiserv, Inc. (NYSE:FI) Position Decreased by Redwood Grove Capital LLC

Redwood Grove Capital LLC decreased its position in shares of Fiserv, Inc. (NYSE:FI) by 6.3% in the fourth quarter, HoldingsChannel reports. The firm owned 99,232 shares of the business services provider’s stock after selling 6,630 shares during the quarter. Fiserv accounts for 6.3% of Redwood Grove Capital LLC’s portfolio, making the stock its 2nd biggest position. Redwood Grove Capital LLC’s holdings in Fiserv were worth $20,384,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jacobi Capital Management LLC boosted its stake in shares of Fiserv by 0.4% during the 4th quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider’s stock worth $2,281,000 after acquiring an additional 44 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Fiserv by 1.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,862 shares of the business services provider’s stock valued at $794,000 after acquiring an additional 44 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in Fiserv by 1.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider’s stock worth $841,000 after buying an additional 45 shares in the last quarter. Catalina Capital Group LLC boosted its position in shares of Fiserv by 2.3% during the 4th quarter. Catalina Capital Group LLC now owns 2,160 shares of the business services provider’s stock valued at $444,000 after acquiring an additional 48 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC increased its holdings in shares of Fiserv by 1.2% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 4,126 shares of the business services provider’s stock worth $848,000 after buying an additional 50 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Stock Performance

Shares of Fiserv stock opened at $189.76 on Thursday. The firm’s 50 day moving average is $204.31 and its two-hundred day moving average is $210.78. Fiserv, Inc. has a 52 week low of $146.25 and a 52 week high of $238.59. 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 market capitalization of $105.21 billion, a P/E ratio of 35.21, a P/E/G ratio of 1.52 and a beta of 0.97.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, beating 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 earned $1.88 earnings per share. The company’s revenue was up 5.1% compared to the same quarter last year. Research analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its Board of Directors has approved a stock repurchase 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 purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction that occurred 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 sale, the chief operating officer now owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. The trade was a 16.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.74% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on FI. Stephens lifted their target price on Fiserv from $255.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Wells Fargo & Company lifted their price target on shares of Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Royal Bank of Canada set a $237.00 price objective on shares of Fiserv in a report on Friday, April 25th. Morgan Stanley reaffirmed an “overweight” rating and set a $268.00 price objective (up previously from $267.00) on shares of Fiserv in a research report on Friday, April 25th. Finally, StockNews.com initiated coverage on shares of Fiserv in a research note on Sunday, March 23rd. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Fiserv has an average rating of “Moderate Buy” and a consensus target price of $230.00.

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.