Pointe Capital Management LLC Has $649,000 Position in Fiserv, Inc. (NYSE:FI)

Pointe Capital Management LLC raised its holdings in Fiserv, Inc. (NYSE:FI) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,158 shares of the business services provider’s stock after acquiring an additional 56 shares during the quarter. Pointe Capital Management LLC’s holdings in Fiserv were worth $649,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of FI. Allworth Financial LP lifted its holdings in Fiserv by 11.9% during the third quarter. Allworth Financial LP now owns 4,808 shares of the business services provider’s stock worth $864,000 after acquiring an additional 510 shares in the last quarter. PFG Investments LLC increased its stake in Fiserv by 2.7% during the 3rd quarter. PFG Investments LLC now owns 2,807 shares of the business services provider’s stock worth $504,000 after purchasing an additional 73 shares in the last quarter. J.W. Cole Advisors Inc. raised its holdings in Fiserv by 18.5% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 2,686 shares of the business services provider’s stock worth $483,000 after buying an additional 419 shares during the period. Inscription Capital LLC bought a new position in Fiserv in the third quarter valued at approximately $229,000. Finally, Concord Wealth Partners boosted its holdings in shares of Fiserv by 27.3% in the third quarter. Concord Wealth Partners now owns 1,273 shares of the business services provider’s stock valued at $229,000 after buying an additional 273 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Trading Up 0.1 %

Shares of Fiserv stock opened at $232.34 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. The stock has a market cap of $130.41 billion, a PE ratio of 43.11, a PEG ratio of 1.52 and a beta of 0.94. The firm has a 50-day moving average of $214.94 and a 200-day moving average of $199.86. Fiserv, Inc. has a 52-week low of $145.98 and a 52-week high of $237.99.

Fiserv (NYSE:FI) last announced its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, beating 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, sell-side analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its board has initiated a stock repurchase plan on Thursday, February 20th that permits the company to repurchase 60,000,000 outstanding 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 leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently commented on FI shares. Tigress Financial raised their price objective on shares of Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. The Goldman Sachs Group boosted their price target on Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Compass Point assumed coverage on Fiserv in a research report on Wednesday, November 20th. They set a “buy” rating and a $278.00 price objective for the company. Wells Fargo & Company lifted their target price on Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, KeyCorp upped their price target on Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Fiserv currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.83.

Insider Buying and Selling

In other news, COO Guy Chiarello sold 45,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the completion of the transaction, the chief operating officer now directly owns 227,711 shares in the company, valued at $53,637,326.05. This trade represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is currently owned by corporate insiders.

Fiserv Company 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.