Egerton Capital UK LLP Has $477.52 Million Stake in Fiserv, Inc. (NYSE:FI)

Egerton Capital UK LLP lessened its position in Fiserv, Inc. (NYSE:FI) by 9.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,324,599 shares of the business services provider’s stock after selling 253,886 shares during the period. Fiserv comprises about 5.5% of Egerton Capital UK LLP’s portfolio, making the stock its 6th biggest holding. Egerton Capital UK LLP’s holdings in Fiserv were worth $477,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Valley National Advisers Inc. bought a new stake in shares of Fiserv during the 4th quarter worth about $29,000. Marshall Investment Management LLC bought a new stake in shares of Fiserv during the 4th quarter worth about $29,000. Compass Financial Services Inc bought a new stake in shares of Fiserv during the 4th quarter worth about $31,000. Kennebec Savings Bank bought a new stake in shares of Fiserv during the 3rd quarter worth about $40,000. Finally, Knuff & Co LLC bought a new stake in shares of Fiserv during the 4th quarter worth about $45,000. Institutional investors own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FI. KeyCorp lifted their price objective on shares of Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. BMO Capital Markets lifted their price objective on shares of Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. The Goldman Sachs Group lifted their price objective on shares of Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company lifted their price objective on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Morgan Stanley lifted their price objective on shares of Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.83.

Fiserv Trading Down 0.3 %

FI opened at $213.91 on Wednesday. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $238.59. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The firm has a market capitalization of $120.06 billion, a price-to-earnings ratio of 39.69, a PEG ratio of 1.52 and a beta of 0.93. The company’s 50 day moving average price is $218.65 and its two-hundred day moving average price is $204.00.

Fiserv (NYSE:FI) last posted its earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. As a group, 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 approved a stock buyback plan on Thursday, February 20th that permits the company to repurchase 60,000,000 shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction on 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 owns 227,711 shares in the company, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.75% of the company’s stock.

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.