Clear Harbor Asset Management LLC Acquires New Position in Fiserv, Inc. (NYSE:FI)

Clear Harbor Asset Management LLC bought a new position in Fiserv, Inc. (NYSE:FI) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 3,098 shares of the business services provider’s stock, valued at approximately $636,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kimelman & Baird LLC purchased a new stake in Fiserv in the 2nd quarter valued at $60,000. AE Wealth Management LLC boosted its position in shares of Fiserv by 176.4% during the 2nd quarter. AE Wealth Management LLC now owns 16,136 shares of the business services provider’s stock valued at $2,405,000 after acquiring an additional 10,298 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Fiserv by 38.8% in the second quarter. Pacer Advisors Inc. now owns 62,455 shares of the business services provider’s stock valued at $9,308,000 after purchasing an additional 17,462 shares during the period. Thrivent Financial for Lutherans raised its stake in Fiserv by 2.2% during the second quarter. Thrivent Financial for Lutherans now owns 191,892 shares of the business services provider’s stock worth $28,600,000 after purchasing an additional 4,208 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Fiserv by 267.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,190 shares of the business services provider’s stock valued at $2,264,000 after purchasing an additional 11,059 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Fiserv

In related news, CAO Kenneth Best sold 20,821 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total value of $4,468,394.81. Following the completion of the sale, the chief accounting officer now directly owns 38,771 shares of the company’s stock, valued at $8,320,644.31. The trade was a 34.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Heidi Miller sold 30,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $201.13, for a total transaction of $6,033,900.00. Following the completion of the transaction, the director now owns 33,235 shares of the company’s stock, valued at $6,684,555.55. This represents a 47.44 % decrease in their position. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by corporate insiders.

Fiserv Stock Performance

Shares of FI stock opened at $208.85 on Wednesday. Fiserv, Inc. has a 12 month low of $137.13 and a 12 month high of $223.23. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85. The company has a market cap of $118.82 billion, a P/E ratio of 40.16, a PEG ratio of 1.37 and a beta of 0.94. The firm has a fifty day moving average price of $209.33 and a 200 day moving average price of $187.72.

Fiserv (NYSE:FI) last released its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.04. The business had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $4.90 billion. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.96 EPS. Sell-side analysts predict that Fiserv, Inc. will post 8.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on FI shares. Royal Bank of Canada lifted their price target on shares of Fiserv from $183.00 to $224.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group lifted their target price on Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Keefe, Bruyette & Woods increased their price target on Fiserv from $225.00 to $238.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Stephens restated an “overweight” rating and issued a $255.00 price objective on shares of Fiserv in a report on Thursday, January 2nd. Finally, Tigress Financial increased their target price on shares of Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Three equities research analysts have rated the stock with 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $224.00.

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.