Bessemer Group Inc. Has $721.90 Million Stake in Fiserv, Inc. (NYSE:FI)

Bessemer Group Inc. reduced its stake in Fiserv, Inc. (NYSE:FI) by 8.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,514,283 shares of the business services provider’s stock after selling 320,754 shares during the period. Fiserv comprises approximately 1.2% of Bessemer Group Inc.’s investment portfolio, making the stock its 12th largest position. Bessemer Group Inc.’s holdings in Fiserv were worth $721,904,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Jacobi Capital Management LLC increased its holdings in Fiserv by 0.4% in the 4th quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider’s stock worth $2,281,000 after purchasing an additional 44 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Fiserv by 1.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider’s stock valued at $841,000 after buying an additional 45 shares during the period. Catalina Capital Group LLC increased its stake in shares of Fiserv by 2.3% in the fourth quarter. Catalina Capital Group LLC now owns 2,160 shares of the business services provider’s stock valued at $444,000 after buying an additional 48 shares during the period. Mount Yale Investment Advisors LLC boosted its position in Fiserv by 1.2% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 4,126 shares of the business services provider’s stock worth $848,000 after buying an additional 50 shares during the period. Finally, Hemington Wealth Management grew its holdings in Fiserv by 6.1% during the 4th quarter. Hemington Wealth Management now owns 864 shares of the business services provider’s stock worth $177,000 after acquiring an additional 50 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Trading Down 1.7 %

Shares of Fiserv stock opened at $195.12 on Wednesday. The stock has a market capitalization of $108.99 billion, a PE ratio of 36.20, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91. Fiserv, Inc. has a 52 week low of $145.98 and a 52 week high of $238.59. The stock has a 50 day moving average price of $221.86 and a two-hundred day moving average price of $209.81. 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 posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate 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 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 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.

Insider Buying and Selling

In related news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction 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 completion of the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.75% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

FI has been the subject of several analyst reports. Susquehanna raised their price target on shares of Fiserv from $230.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, February 10th. StockNews.com began coverage on Fiserv in a report on Sunday, March 23rd. They set a “buy” rating on the stock. Citigroup increased their price target on Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. KeyCorp lifted their price objective on Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, BMO Capital Markets increased their target price on shares of Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Fiserv has a consensus rating of “Buy” and a consensus price target of $243.64.

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.