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

Cornerstone Investment Partners LLC cut its stake in shares of Fiserv, Inc. (NYSE:FI) by 7.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 501,195 shares of the business services provider’s stock after selling 37,587 shares during the period. Fiserv accounts for approximately 5.1% of Cornerstone Investment Partners LLC’s holdings, making the stock its 4th biggest holding. Cornerstone Investment Partners LLC owned approximately 0.09% of Fiserv worth $102,955,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC lifted its holdings in Fiserv by 17.8% in the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after buying an additional 1,427,664 shares in the last quarter. Sanders Capital LLC acquired a new position in Fiserv in the 3rd quarter worth $764,543,000. Bank of New York Mellon Corp lifted its holdings in Fiserv by 4.7% in the 4th quarter. Bank of New York Mellon Corp now owns 3,711,072 shares of the business services provider’s stock worth $762,328,000 after buying an additional 164,949 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Fiserv by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,620,785 shares of the business services provider’s stock valued at $743,782,000 after purchasing an additional 90,475 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Fiserv by 3.0% in the 3rd quarter. Barclays PLC now owns 1,685,157 shares of the business services provider’s stock valued at $302,737,000 after purchasing an additional 48,413 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Stock Up 0.8 %

FI stock opened at $237.65 on Tuesday. Fiserv, Inc. has a 12 month low of $145.98 and a 12 month high of $238.59. The firm has a market cap of $133.39 billion, a PE ratio of 44.09, a P/E/G ratio of 1.52 and a beta of 0.94. The firm has a 50 day simple moving average of $217.30 and a 200 day simple moving average of $201.84. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07.

Fiserv (NYSE:FI) last released its earnings results on Wednesday, February 5th. The business services provider reported $2.51 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%. Equities research analysts forecast 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 reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Citigroup upped their target price on shares of Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Seaport Res Ptn upgraded shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Susquehanna upped their target price 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. KeyCorp upped their target price on shares of Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, Compass Point began coverage on shares of Fiserv in a research note on Wednesday, November 20th. They issued a “buy” rating and a $278.00 target price on the stock. Three research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Fiserv presently has an average rating of “Moderate Buy” and an average target price of $239.83.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total value 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.75% of the company’s stock.

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.