Harvey Capital Management Inc. Trims Position in Fiserv, Inc. (NYSE:FI)

Harvey Capital Management Inc. trimmed its stake in Fiserv, Inc. (NYSE:FI) by 1.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,520 shares of the business services provider’s stock after selling 150 shares during the period. Harvey Capital Management Inc.’s holdings in Fiserv were worth $2,366,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in FI. Valley National Advisers Inc. bought a new stake in shares of Fiserv in the fourth quarter valued at about $29,000. Compass Financial Services Inc bought a new position in Fiserv during the 4th quarter worth about $31,000. Cedar Mountain Advisors LLC increased its position in Fiserv by 42.5% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 57 shares during the period. Kennebec Savings Bank bought a new stake in shares of Fiserv in the 3rd quarter valued at about $40,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Fiserv during the third quarter valued at approximately $44,000. 90.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on FI shares. Royal Bank of Canada boosted their price objective on shares of Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. TD Cowen upped their price objective on Fiserv from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Compass Point began coverage on Fiserv in a research note on Wednesday, November 20th. They issued a “buy” rating and a $278.00 target price on the stock. Keefe, Bruyette & Woods increased their price target on shares of Fiserv from $238.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Susquehanna raised their price target on shares of Fiserv from $230.00 to $270.00 and gave the company a “positive” rating in a report on Monday. Two analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $239.83.

Fiserv Stock Performance

FI opened at $229.97 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. Fiserv, Inc. has a 12-month low of $142.47 and a 12-month high of $233.26. The firm has a 50 day moving average of $209.54 and a two-hundred day moving average of $194.77. The firm has a market capitalization of $130.84 billion, a PE ratio of 42.67, a P/E/G ratio of 1.52 and a beta of 0.94.

Fiserv (NYSE:FI) last issued its earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, topping 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%. On average, analysts anticipate that Fiserv, Inc. will post 10.22 EPS for the current year.

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.