Fred Alger Management LLC Buys Shares of 2,470 Fiserv, Inc. $FI

Key Points

• Fred Alger Management LLC acquired 2,470 shares of Fiserv, Inc. for approximately $545,000 in the first quarter, reflecting growing interest from institutional investors in the company.
• Analysts have set various price targets for Fiserv, with a consensus rating of "Moderate Buy" and an average price target of $207.36, indicating confidence in the stock's potential for growth.
• Fiserv reported $2.47 EPS for the latest quarter, beating estimates and showing an 8.0% year-over-year revenue increase, which reflects the company's strong financial performance.

Fred Alger Management LLC bought a new position in Fiserv, Inc. (NYSE:FI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,470 shares of the business services provider's stock, valued at approximately $545,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC increased its position in Fiserv by 91.9% in the fourth quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider's stock worth $872,000 after buying an additional 2,033 shares during the period. Bison Wealth LLC increased its holdings in shares of Fiserv by 5.3% in the 4th quarter. Bison Wealth LLC now owns 2,299 shares of the business services provider's stock worth $472,000 after acquiring an additional 116 shares during the period. Focus Partners Wealth increased its holdings in shares of Fiserv by 6.3% in the 4th quarter. Focus Partners Wealth now owns 41,025 shares of the business services provider's stock worth $8,427,000 after acquiring an additional 2,432 shares during the period. OMERS ADMINISTRATION Corp lifted its position in Fiserv by 26.3% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 29,845 shares of the business services provider's stock valued at $6,131,000 after purchasing an additional 6,214 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in Fiserv by 5.2% during the 4th quarter. Nuveen Asset Management LLC now owns 6,936,554 shares of the business services provider's stock valued at $1,424,907,000 after purchasing an additional 340,938 shares during the period. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Price Performance

Shares of FI traded down $1.27 during mid-day trading on Friday, hitting $134.43. The company's stock had a trading volume of 2,913,319 shares, compared to its average volume of 3,871,148. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a 50-day moving average price of $144.31 and a 200 day moving average price of $175.13. Fiserv, Inc. has a fifty-two week low of $128.22 and a fifty-two week high of $238.59. The stock has a market capitalization of $73.08 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 0.88 and a beta of 0.94.

Fiserv (NYSE:FI - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.04. Fiserv had a return on equity of 19.69% and a net margin of 16.00%.The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.20 billion. During the same period last year, the company posted $2.13 EPS. The company's revenue was up 8.0% compared to the same quarter last year. Fiserv has set its FY 2025 guidance at 10.150-10.30 EPS. On average, research analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Analyst Ratings Changes

FI has been the topic of several analyst reports. Tigress Financial raised their price target on shares of Fiserv from $244.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Mizuho lowered their target price on Fiserv from $194.00 to $165.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 29th. KeyCorp reduced their price target on Fiserv from $250.00 to $200.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. Barclays set a $175.00 price target on Fiserv and gave the stock an "overweight" rating in a research note on Monday, July 28th. Finally, Jefferies Financial Group cut their price objective on shares of Fiserv from $180.00 to $165.00 and set a "hold" rating on the stock in a research note on Tuesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $207.36.

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.