Condor Capital Management Decreases Stock Holdings in Fiserv, Inc. (NYSE:FI)

Condor Capital Management trimmed its position in Fiserv, Inc. (NYSE:FI) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,923 shares of the business services provider’s stock after selling 209 shares during the quarter. Condor Capital Management’s holdings in Fiserv were worth $3,476,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Sanders Capital LLC bought a new stake in Fiserv during the 3rd quarter valued at approximately $764,543,000. Raymond James Financial Inc. bought a new stake in shares of Fiserv during the fourth quarter valued at approximately $614,982,000. FMR LLC grew its stake in Fiserv by 17.8% in the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after purchasing an additional 1,427,664 shares during the period. Madison Investment Advisors LLC bought a new position in Fiserv in the fourth quarter worth $134,710,000. Finally, Kovitz Investment Group Partners LLC lifted its position in Fiserv by 788.7% during the third quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock valued at $109,700,000 after buying an additional 561,377 shares during the period. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Stock Performance

NYSE FI opened at $220.87 on Thursday. The firm has a market cap of $123.97 billion, a price-to-earnings ratio of 40.98, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. The business has a 50-day moving average price of $219.78 and a 200-day moving average price of $205.59. Fiserv, Inc. has a twelve month low of $145.98 and a twelve month high of $238.59.

Fiserv (NYSE:FI) last released its quarterly earnings data 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 return on equity of 17.93% and a net margin of 15.31%. As a group, equities research analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 20th that allows the company to repurchase 60,000,000 outstanding shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 227,711 shares in the company, valued at $53,637,326.05. This represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.75% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FI has been the subject of several research reports. Susquehanna increased their price target on shares of Fiserv from $230.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, February 10th. Keefe, Bruyette & Woods raised their target price on shares of Fiserv from $238.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. BMO Capital Markets lifted their target price on shares of Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Compass Point started coverage on Fiserv in a research note on Wednesday, November 20th. They issued a “buy” rating and a $278.00 price target on the stock. Finally, The Goldman Sachs Group lifted their price objective on Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Three research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $239.83.

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.