Fiserv, Inc. (NYSE:FI) is Cornerstone Investment Partners LLC’s 4th Largest Position

Cornerstone Investment Partners LLC lessened its stake in Fiserv, Inc. (NYSE:FI) by 7.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 501,195 shares of the business services provider’s stock after selling 37,587 shares during the quarter. Fiserv accounts for about 5.1% of Cornerstone Investment Partners LLC’s holdings, making the stock its 4th biggest position. Cornerstone Investment Partners LLC’s holdings in Fiserv were worth $102,955,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Marshall Investment Management LLC acquired a new position in Fiserv in the 4th quarter valued at approximately $29,000. Valley National Advisers Inc. acquired a new position in Fiserv in the 4th quarter valued at approximately $29,000. Compass Financial Services Inc acquired a new position in Fiserv in the 4th quarter valued at approximately $31,000. Kennebec Savings Bank acquired a new position in shares of Fiserv during the 3rd quarter worth $40,000. Finally, Roxbury Financial LLC acquired a new position in shares of Fiserv during the 4th quarter worth $50,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Price Performance

NYSE:FI opened at $237.65 on Tuesday. The company has a 50-day moving average of $217.30 and a 200-day moving average of $201.84. The company has a market capitalization of $133.39 billion, a price-to-earnings ratio of 44.09, a PEG ratio of 1.52 and a beta of 0.94. Fiserv, Inc. has a 52 week low of $145.98 and a 52 week high of $238.59. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06.

Fiserv (NYSE:FI) last announced its earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) 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, equities research analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its Board of Directors has initiated a share repurchase program on Thursday, February 20th that permits the company to buyback 60,000,000 shares. This buyback authorization permits the business services provider to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Seaport Res Ptn upgraded shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Barclays increased their price target on shares of Fiserv from $235.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Citigroup increased their price target on shares of Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Morgan Stanley raised their target price on shares of Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, BMO Capital Markets raised their target price on shares of Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Three research 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $239.83.

Insider Buying and Selling

In related 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 completion of the sale, the chief operating officer now owns 227,711 shares in the company, valued at $53,637,326.05. This trade represents a 16.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, 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.