Permanent Capital Management LP Invests $445,000 in Fiserv, Inc. (NYSE:FI)

Permanent Capital Management LP purchased a new position in Fiserv, Inc. (NYSE:FI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,168 shares of the business services provider’s stock, valued at approximately $445,000.

Other hedge funds have also recently modified their holdings of the company. Jacobi Capital Management LLC raised its stake in shares of Fiserv by 0.4% during the 4th quarter. Jacobi Capital Management LLC now owns 11,104 shares of the business services provider’s stock worth $2,281,000 after acquiring an additional 44 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Fiserv by 1.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,109 shares of the business services provider’s stock worth $841,000 after acquiring an additional 45 shares in the last quarter. Catalina Capital Group LLC raised its stake in shares of Fiserv by 2.3% during the 4th quarter. Catalina Capital Group LLC now owns 2,160 shares of the business services provider’s stock worth $444,000 after acquiring an additional 48 shares in the last quarter. Mount Yale Investment Advisors LLC raised its stake in shares of 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 acquiring an additional 50 shares in the last quarter. Finally, Hemington Wealth Management raised its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Stock Performance

Shares of NYSE FI opened at $218.04 on Friday. The company’s fifty day moving average price is $218.31 and its 200 day moving average price is $202.88. Fiserv, Inc. has a 1 year low of $145.98 and a 1 year high of $238.59. The company has a market capitalization of $122.38 billion, a PE ratio of 40.45, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. 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 quarterly 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%. On average, research analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv declared that its board has initiated a stock buyback plan on Thursday, February 20th that authorizes the company to buyback 60,000,000 outstanding shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Oppenheimer boosted their price objective on shares of Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Barclays upped their price target on shares of Fiserv from $235.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Keefe, Bruyette & Woods upped their price target 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. Citigroup upped their price target 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. Finally, Susquehanna upped 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. Three equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $239.83.

Insider Buying and Selling

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

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.