Brooktree Capital Management Invests $6.76 Million in Fiserv, Inc. (NYSE:FI)

Brooktree Capital Management purchased a new position in Fiserv, Inc. (NYSE:FI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 50,869 shares of the business services provider’s stock, valued at approximately $6,757,000. Fiserv comprises about 5.5% of Brooktree Capital Management’s holdings, making the stock its 7th biggest position.

A number of other large investors also recently modified their holdings of the business. Brighton Jones LLC raised its position in Fiserv by 4.0% during the third quarter. Brighton Jones LLC now owns 2,385 shares of the business services provider’s stock valued at $269,000 after acquiring an additional 92 shares in the last quarter. Jacobi Capital Management LLC raised its position in Fiserv by 0.9% during the third quarter. Jacobi Capital Management LLC now owns 10,099 shares of the business services provider’s stock valued at $1,141,000 after acquiring an additional 94 shares in the last quarter. UniSuper Management Pty Ltd raised its position in Fiserv by 2.3% during the third quarter. UniSuper Management Pty Ltd now owns 4,500 shares of the business services provider’s stock valued at $508,000 after acquiring an additional 100 shares in the last quarter. Hollencrest Capital Management raised its position in Fiserv by 75.8% during the third quarter. Hollencrest Capital Management now owns 232 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 100 shares in the last quarter. Finally, Argonautica Private Wealth Management Inc. raised its position in Fiserv by 2.5% during the third quarter. Argonautica Private Wealth Management Inc. now owns 4,128 shares of the business services provider’s stock valued at $466,000 after acquiring an additional 101 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $149.53, for a total value of $3,588,720.00. Following the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 111,575 shares of company stock worth $17,022,387. Corporate insiders own 0.75% of the company’s stock.

Fiserv Stock Performance

FI traded down $1.48 during trading on Wednesday, reaching $151.19. 823,837 shares of the company’s stock were exchanged, compared to its average volume of 2,538,875. Fiserv, Inc. has a fifty-two week low of $109.11 and a fifty-two week high of $159.99. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.81. The business has a 50 day moving average price of $152.76 and a 200 day moving average price of $138.65. The company has a market capitalization of $88.46 billion, a P/E ratio of 28.54, a PEG ratio of 1.24 and a beta of 0.91.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The firm had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the previous year, the company earned $1.58 earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year. As a group, analysts predict that Fiserv, Inc. will post 8.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FI has been the topic of several recent research reports. Royal Bank of Canada raised their price objective on shares of Fiserv from $158.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Robert W. Baird lifted their price target on shares of Fiserv from $185.00 to $186.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Oppenheimer raised shares of Fiserv from a “market perform” rating to an “outperform” rating and set a $168.00 price target on the stock in a research report on Thursday, January 11th. B. Riley lifted their price target on shares of Fiserv from $176.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, BNP Paribas raised shares of Fiserv from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 10th. Six equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.33.

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.