Beck Mack & Oliver LLC Has $105.46 Million Stake in Fiserv, Inc. (NYSE:FI)

Beck Mack & Oliver LLC boosted its position in Fiserv, Inc. (NYSE:FI) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 513,402 shares of the business services provider’s stock after purchasing an additional 2,589 shares during the period. Fiserv accounts for about 2.0% of Beck Mack & Oliver LLC’s portfolio, making the stock its 19th biggest holding. Beck Mack & Oliver LLC’s holdings in Fiserv were worth $105,463,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Decatur Capital Management Inc. acquired a new stake in shares of Fiserv in the fourth quarter valued at about $3,047,000. First Trust Advisors LP boosted its position in shares of Fiserv by 100.2% during the fourth quarter. First Trust Advisors LP now owns 234,392 shares of the business services provider’s stock valued at $48,149,000 after buying an additional 117,302 shares during the last quarter. Forum Financial Management LP raised its position in Fiserv by 2.3% in the 4th quarter. Forum Financial Management LP now owns 5,272 shares of the business services provider’s stock valued at $1,083,000 after buying an additional 118 shares during the last quarter. Freedom Investment Management Inc. boosted its holdings in Fiserv by 13.0% during the 4th quarter. Freedom Investment Management Inc. now owns 6,559 shares of the business services provider’s stock worth $1,347,000 after acquiring an additional 757 shares during the last quarter. Finally, GeoWealth Management LLC lifted its position in shares of Fiserv by 5.4% during the fourth quarter. GeoWealth Management LLC now owns 3,685 shares of the business services provider’s stock valued at $757,000 after purchasing an additional 188 shares in the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Fiserv Stock Performance

NYSE FI opened at $208.51 on Friday. The firm has a market cap of $116.47 billion, a price-to-earnings ratio of 38.68, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91. The business has a 50-day moving average price of $219.31 and a 200-day moving average price of $211.30. Fiserv, Inc. has a twelve month low of $145.98 and a twelve month high of $238.59. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 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%. 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 has approved a stock buyback program on Thursday, February 20th that authorizes the company to repurchase 60,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have recently issued reports on FI. Royal Bank of Canada increased their price target on Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Stephens raised their price objective on shares of Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. StockNews.com initiated coverage on shares of Fiserv in a research note on Sunday, March 23rd. They issued a “buy” rating on the stock. Morgan Stanley increased their price objective on Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, Barclays upped their price target on Fiserv from $235.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Fiserv presently has a consensus rating of “Moderate Buy” and an average target price of $234.79.

Insider Activity at Fiserv

In other news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction 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 sale, the chief operating officer now directly owns 227,711 shares of the company’s stock, valued at $53,637,326.05. This represents a 16.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.75% of the stock is currently owned by corporate insiders.

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.