10 New Stocks in David Tepper’s Portfolio

2. Fiserv, Inc. (NASDAQ:FISV)

Number of Hedge Fund Holders: 83

Appaloosa Management’s Stake Value: $119,260,250

Fiserv, Inc. (NASDAQ: FISV) is among the new stocks David Tepper has bought. As of December 29, the average price target for FISV suggests an upside of 19%; however, the Street high indicates an upside of 56%. According to Q3 13F filings, the billionaire owned 925,000 shares of Fiserv valued at $119.3 million.

On December 22, Mizuho analyst Dan Dolev maintained an Outperform rating on Fiserv and trimmed the price target on the shares from $110 to $100. Mizuho adjusted targets in the payments and IT space to account for the latest macro changes and management chatter from investor conferences.

Previously, on December 17, Fiserv concluded its acquisition of StoneCastle Cash Management, enhancing the company’s capacity to provide insured deposit funding. This acquisition consolidates StoneCastle’s institutional deposit network with Fiserv’s solutions, which facilitate account processing, online banking, and payments platforms. This will help financial services companies maximize liquidity and boost balance sheets, in addition to offering alternative investment vehicles. It will also open more funding routes for banks and financial institutions. Meanwhile, StoneCastle’s current clients, including wealth managers, will mutually benefit from Fiserv’s banking relationships.

Fiserv, Inc. (NASDAQ:FISV) is a Wisconsin-based fintech company offering account processing, digital banking, payment services, e-commerce solutions, merchant services, and cloud-based point-of-sale systems.