Pacific Point Advisors LLC Buys New Position in Fiserv, Inc. (NYSE:FI)

Pacific Point Advisors LLC acquired a new stake in Fiserv, Inc. (NYSE:FI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,182 shares of the business services provider’s stock, valued at approximately $1,324,000. Fiserv accounts for about 0.8% of Pacific Point Advisors LLC’s portfolio, making the stock its 29th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Fiserv in the 4th quarter worth about $1,406,452,000. Raymond James Financial Inc. purchased a new stake in Fiserv during the fourth quarter valued at about $614,982,000. Kovitz Investment Group Partners LLC increased its stake in Fiserv by 343.7% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider’s stock worth $576,527,000 after purchasing an additional 2,174,025 shares during the period. Alliancebernstein L.P. increased its stake in Fiserv by 65.6% in the 4th quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock worth $1,116,919,000 after purchasing an additional 2,153,554 shares during the period. Finally, FMR LLC increased its stake in Fiserv by 22.5% in the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider’s stock worth $2,376,482,000 after purchasing an additional 2,126,419 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Stock Performance

Shares of NYSE:FI opened at $161.38 on Friday. The company’s 50 day moving average price is $198.36 and its two-hundred day moving average price is $209.28. The firm has a market cap of $89.48 billion, a PE ratio of 29.94, a PEG ratio of 1.52 and a beta of 0.97. 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, Inc. has a 12-month low of $146.25 and a 12-month high of $238.59.

Fiserv (NYSE:FI) last issued its 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 analyst estimates of $4.86 billion. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $1.88 earnings per share. Equities research analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current year.

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

Analyst Ratings Changes

A number of research firms have issued reports on FI. JPMorgan Chase & Co. decreased their price objective on Fiserv from $211.00 to $210.00 and set an “overweight” rating for the company in a report on Monday. UBS Group lowered their price target on Fiserv from $265.00 to $255.00 and set a “buy” rating on the stock in a report on Friday, April 25th. The Goldman Sachs Group reduced their price objective on Fiserv from $223.00 to $194.00 and set a “buy” rating for the company in a research report on Monday. Susquehanna cut their price target on Fiserv from $250.00 to $240.00 and set a “positive” rating for the company in a research note on Friday, April 25th. Finally, Royal Bank of Canada set a $237.00 price target on Fiserv in a research note on Friday, April 25th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Fiserv presently has an average rating of “Moderate Buy” and an average price target of $224.20.

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.