Scharf Investments LLC Has $255.73 Million Position in Fiserv, Inc. (NYSE:FI)

Scharf Investments LLC cut its position in Fiserv, Inc. (NYSE:FI) by 6.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,244,900 shares of the business services provider’s stock after selling 85,145 shares during the period. Fiserv makes up about 7.6% of Scharf Investments LLC’s holdings, making the stock its largest holding. Scharf Investments LLC’s holdings in Fiserv were worth $255,727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in FI. Sanctuary Advisors LLC purchased a new position in shares of Fiserv in the second quarter worth about $9,083,000. Newbridge Financial Services Group Inc. grew its stake in Fiserv by 95.5% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 260 shares of the business services provider’s stock valued at $39,000 after buying an additional 127 shares in the last quarter. Centaurus Financial Inc. grew its stake in Fiserv by 19.4% in the 2nd quarter. Centaurus Financial Inc. now owns 1,931 shares of the business services provider’s stock valued at $288,000 after buying an additional 314 shares in the last quarter. Czech National Bank lifted its position in shares of Fiserv by 5.2% during the third quarter. Czech National Bank now owns 117,281 shares of the business services provider’s stock worth $21,070,000 after acquiring an additional 5,784 shares in the last quarter. Finally, Unique Wealth LLC boosted its holdings in shares of Fiserv by 18.6% in the third quarter. Unique Wealth LLC now owns 11,715 shares of the business services provider’s stock worth $2,105,000 after acquiring an additional 1,840 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Stock Performance

Shares of NYSE:FI opened at $216.07 on Friday. 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 capitalization of $122.93 billion, a price-to-earnings ratio of 41.55, a PEG ratio of 1.39 and a beta of 0.94. Fiserv, Inc. has a 12 month low of $137.13 and a 12 month high of $223.23. The firm’s 50-day moving average is $208.83 and its 200 day moving average is $190.54.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FI. Royal Bank of Canada increased their price target on shares of Fiserv from $183.00 to $224.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Susquehanna increased their target price on shares of Fiserv from $190.00 to $230.00 and gave the stock a “positive” rating in a research note on Friday, October 18th. Wells Fargo & Company boosted their price target on shares of Fiserv from $220.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. TD Cowen increased their price objective on Fiserv from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Mizuho boosted their target price on Fiserv from $183.00 to $222.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $224.00.

Insider Activity

In other news, CAO Kenneth Best sold 20,821 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total transaction of $4,468,394.81. Following the transaction, the chief accounting officer now directly owns 38,771 shares of the company’s stock, valued at approximately $8,320,644.31. This trade represents a 34.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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.