7,800,497 Shares in Fiserv, Inc. (NYSE:FI) Acquired by Nuveen LLC

Key Points

• Nuveen LLC acquired 7,800,497 shares of Fiserv, Inc. valued at approximately $1.72 billion, now holding about 1.41% of the company.
• Fiserv reported $2.47 earnings per share for the last quarter, exceeding estimates, and its revenue increased by 8.0% year-over-year.
• Analyst ratings have varied, with a consensus rating of "Moderate Buy" and an average target price of $207.08, reflecting mixed views on the stock's future performance.

Nuveen LLC purchased a new position in shares of Fiserv, Inc. (NYSE:FI - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 7,800,497 shares of the business services provider's stock, valued at approximately $1,722,584,000. Nuveen LLC owned approximately 1.41% of Fiserv as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC raised its stake in Fiserv by 91.9% during the 4th quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider's stock worth $872,000 after acquiring an additional 2,033 shares in the last quarter. Scotia Capital Inc. grew its stake in shares of Fiserv by 24.6% during the 4th quarter. Scotia Capital Inc. now owns 16,283 shares of the business services provider's stock worth $3,345,000 after purchasing an additional 3,215 shares during the period. First Foundation Advisors purchased a new position in Fiserv in the fourth quarter valued at about $211,000. Petros Family Wealth LLC acquired a new stake in shares of Fiserv in the 4th quarter worth approximately $279,000. Finally, Rockefeller Capital Management L.P. increased its position in shares of Fiserv by 4.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 87,727 shares of the business services provider's stock valued at $18,013,000 after buying an additional 3,787 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Adam L. Rosman sold 2,512 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total value of $403,628.16. Following the completion of the sale, the insider directly owned 53,385 shares of the company's stock, valued at $8,577,901.80. This represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrew Gelb sold 5,652 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total transaction of $904,320.00. Following the completion of the transaction, the executive vice president directly owned 25,385 shares in the company, valued at $4,061,600. This trade represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.74% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on FI shares. Truist Financial lifted their price objective on Fiserv from $181.00 to $185.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Morgan Stanley lowered their price target on shares of Fiserv from $268.00 to $266.00 and set an "overweight" rating for the company in a report on Monday, July 21st. Barclays set a $175.00 price objective on shares of Fiserv and gave the company an "overweight" rating in a research note on Monday, July 28th. Mizuho lowered their target price on shares of Fiserv from $194.00 to $165.00 and set an "outperform" rating for the company in a research note on Tuesday, July 29th. Finally, Susquehanna reduced their price target on Fiserv from $240.00 to $220.00 and set a "positive" rating on the stock in a research note on Thursday, July 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $207.08.

Fiserv Price Performance

NYSE FI traded down $0.40 on Thursday, reaching $133.89. 2,671,030 shares of the stock traded hands, compared to its average volume of 4,466,578. Fiserv, Inc. has a 12 month low of $128.22 and a 12 month high of $238.59. The company has a market cap of $72.78 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 0.86 and a beta of 0.91. The firm's fifty day simple moving average is $158.20 and its 200 day simple moving average is $188.66. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.09.

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. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.20 billion. Fiserv had a return on equity of 19.69% and a net margin of 16.00%. The company's revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company posted $2.13 EPS. As a group, research analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal 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.