Fiserv, Inc. (NYSE:FI) Stock Holdings Lowered by Alta Capital Management LLC

Alta Capital Management LLC reduced its stake in shares of Fiserv, Inc. (NYSE:FI) by 5.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 298,442 shares of the business services provider’s stock after selling 18,497 shares during the quarter. Fiserv accounts for approximately 3.7% of Alta Capital Management LLC’s holdings, making the stock its 6th largest holding. Alta Capital Management LLC owned about 0.05% of Fiserv worth $61,306,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its holdings in Fiserv by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,620,785 shares of the business services provider’s stock worth $743,782,000 after purchasing an additional 90,475 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Fiserv by 1.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 120,595 shares of the business services provider’s stock worth $24,773,000 after purchasing an additional 1,443 shares during the last quarter. Mission Wealth Management LP increased its holdings in Fiserv by 1.5% during the 4th quarter. Mission Wealth Management LP now owns 20,621 shares of the business services provider’s stock worth $4,236,000 after purchasing an additional 298 shares during the last quarter. Financial Council LLC purchased a new stake in Fiserv during the 4th quarter worth approximately $200,000. Finally, Auxano Advisors LLC purchased a new stake in Fiserv during the 4th quarter worth approximately $252,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on FI shares. Barclays lifted their price objective on Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. 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. Compass Point assumed coverage on Fiserv in a report on Wednesday, November 20th. They issued a “buy” rating and a $278.00 price target for the company. Seaport Res Ptn upgraded Fiserv from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Finally, Susquehanna boosted their price target on Fiserv from $230.00 to $270.00 and gave the company a “positive” rating in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $239.83.

Fiserv Trading Up 0.8 %

Shares of FI stock opened at $237.65 on Tuesday. 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, Inc. has a 1 year low of $145.98 and a 1 year high of $238.59. The stock has a fifty day moving average of $217.30 and a two-hundred day moving average of $201.84. The firm has a market capitalization of $133.39 billion, a PE ratio of 44.09, a price-to-earnings-growth ratio of 1.52 and a beta of 0.94.

Fiserv (NYSE:FI) last announced its quarterly earnings results 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%. As a group, research analysts expect that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its Board of Directors has initiated a share 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 repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.75% of the company’s stock.

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.