Fiserv, Inc. (NYSE:FI) Stake Reduced by Redwood Grove Capital LLC

Redwood Grove Capital LLC cut its position in Fiserv, Inc. (NYSE:FI) by 6.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 99,232 shares of the business services provider’s stock after selling 6,630 shares during the period. Fiserv makes up about 6.3% of Redwood Grove Capital LLC’s investment portfolio, making the stock its 2nd largest holding. Redwood Grove Capital LLC’s holdings in Fiserv were worth $20,384,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Barclays PLC lifted its position in Fiserv by 3.0% during the third quarter. Barclays PLC now owns 1,685,157 shares of the business services provider’s stock valued at $302,737,000 after purchasing an additional 48,413 shares during the period. Capital Investment Advisors LLC boosted its stake in shares of Fiserv by 4.9% in the 4th quarter. Capital Investment Advisors LLC now owns 4,906 shares of the business services provider’s stock worth $1,008,000 after buying an additional 229 shares during the last quarter. Miracle Mile Advisors LLC grew its holdings in shares of Fiserv by 4.6% in the fourth quarter. Miracle Mile Advisors LLC now owns 9,097 shares of the business services provider’s stock worth $1,869,000 after acquiring an additional 402 shares during the period. Marcum Wealth LLC increased its position in Fiserv by 30.4% during the fourth quarter. Marcum Wealth LLC now owns 2,413 shares of the business services provider’s stock valued at $496,000 after acquiring an additional 563 shares during the last quarter. Finally, Signal Advisors Wealth LLC boosted its position in Fiserv by 2.6% in the fourth quarter. Signal Advisors Wealth LLC now owns 4,006 shares of the business services provider’s stock worth $823,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 90.98% of the company’s stock.

Insider Transactions at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction dated 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 directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.74% of the company’s stock.

Wall Street Analysts Forecast Growth

FI has been the subject of several research reports. Wells Fargo & Company upped 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. Redburn Atlantic reiterated a “sell” rating and issued a $150.00 price target on shares of Fiserv in a research report on Thursday, April 17th. UBS Group cut their price objective on shares of Fiserv from $265.00 to $255.00 and set a “buy” rating for the company in a research report on Friday, April 25th. BMO Capital Markets decreased their target price on Fiserv from $254.00 to $232.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Finally, Keefe, Bruyette & Woods lowered their target price on Fiserv from $260.00 to $240.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Two research 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $230.00.

Fiserv Trading Down 0.6%

FI opened at $189.76 on Thursday. Fiserv, Inc. has a 12 month low of $146.25 and a 12 month 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. The stock has a 50-day moving average of $204.31 and a 200 day moving average of $210.78. The firm has a market cap 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 released its earnings results 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. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.86 billion. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.88 EPS. As a group, research analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its board has approved a stock buyback plan on Thursday, February 20th that permits the company to buyback 60,000,000 shares. This buyback authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

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.