Cornerstone Investment Partners LLC Takes Position in Fiserv, Inc. (NYSE:FI)

Cornerstone Investment Partners LLC purchased a new stake in shares of Fiserv, Inc. (NYSE:FI) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 554,358 shares of the business services provider’s stock, valued at approximately $73,641,000. Fiserv makes up 4.2% of Cornerstone Investment Partners LLC’s investment portfolio, making the stock its 3rd largest position. Cornerstone Investment Partners LLC owned approximately 0.09% of Fiserv at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Comerica Bank bought a new position in shares of Fiserv during the 2nd quarter valued at about $200,000. West Oak Capital LLC bought a new position in Fiserv during the 4th quarter worth approximately $27,000. Halpern Financial Inc. bought a new position in Fiserv during the 4th quarter worth approximately $27,000. Fortitude Family Office LLC bought a new position in Fiserv during the 4th quarter worth approximately $28,000. Finally, PCA Investment Advisory Services Inc. bought a new position in Fiserv during the 2nd quarter worth approximately $27,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $149.53, for a total value of $3,588,720.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares in the company, valued at approximately $24,477,911.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 111,575 shares of company stock worth $17,022,387 in the last 90 days. Insiders own 0.75% of the company’s stock.

Fiserv Trading Up 0.3 %

Shares of FI traded up $0.43 during mid-day trading on Friday, reaching $147.34. 1,036,372 shares of the company’s stock traded hands, compared to its average volume of 2,492,562. Fiserv, Inc. has a 12 month low of $109.11 and a 12 month high of $159.99. The stock’s 50-day moving average is $151.72 and its two-hundred day moving average is $136.10. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $86.75 billion, a P/E ratio of 29.38, a P/E/G ratio of 1.20 and a beta of 0.91.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Tuesday, February 6th. The business services provider reported $2.19 EPS for the quarter, beating the consensus estimate of $2.15 by $0.04. Fiserv had a return on equity of 15.16% and a net margin of 16.07%. The firm had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.68 billion. During the same quarter in the prior year, the business posted $1.91 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. Research analysts forecast that Fiserv, Inc. will post 8.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on FI shares. Mizuho reiterated a “buy” rating and issued a $156.00 price objective on shares of Fiserv in a report on Wednesday, March 27th. KeyCorp upgraded Fiserv from a “sector weight” rating to an “overweight” rating and set a $180.00 target price for the company in a research note on Monday, January 8th. BNP Paribas upgraded Fiserv from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 10th. Jefferies Financial Group lifted their price objective on Fiserv from $150.00 to $160.00 and gave the company a “hold” rating in a research note on Monday, March 25th. Finally, Royal Bank of Canada lifted their price objective on Fiserv from $144.00 to $158.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Six equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Fiserv currently has a consensus rating of “Moderate Buy” and an average price target of $158.21.

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.