Ascent Group LLC Purchases 2,388 Shares of Fiserv, Inc. $FI

Key Points

• Ascent Group LLC increased its holdings in Fiserv, Inc. by 10.3%, acquiring an additional 2,388 shares during the second quarter, bringing its total to 25,669 shares valued at approximately $4.43 million.
• Institutional investors hold 90.98% of Fiserv's stock, with notable increases in ownership by firms such as JPMorgan Chase & Co. (up 77.2%) and Vanguard Group Inc. (up 1.1%).
• Fiserv reported quarterly earnings of $2.47 per share, beating estimates and showing an 8% revenue increase year-over-year, with a projected EPS of 10.23 for the current fiscal year.

Ascent Group LLC boosted its position in Fiserv, Inc. (NYSE:FI - Free Report) by 10.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,669 shares of the business services provider's stock after acquiring an additional 2,388 shares during the quarter. Ascent Group LLC's holdings in Fiserv were worth $4,426,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Fiserv by 1.1% during the first quarter. Vanguard Group Inc. now owns 50,079,534 shares of the business services provider's stock worth $11,059,063,000 after buying an additional 535,407 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Fiserv by 77.2% during the first quarter. JPMorgan Chase & Co. now owns 15,354,767 shares of the business services provider's stock worth $3,390,793,000 after buying an additional 6,691,703 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Fiserv by 3.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 8,284,433 shares of the business services provider's stock worth $1,829,451,000 after buying an additional 253,544 shares in the last quarter. Nuveen LLC acquired a new position in shares of Fiserv during the first quarter worth $1,722,584,000. Finally, Alliancebernstein L.P. increased its holdings in shares of Fiserv by 5.3% during the first quarter. Alliancebernstein L.P. now owns 5,724,666 shares of the business services provider's stock worth $1,264,178,000 after buying an additional 287,420 shares in the last quarter. 90.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Fiserv from a "hold" rating to a "buy" rating in a report on Saturday, September 20th. Deutsche Bank Aktiengesellschaft began coverage on shares of Fiserv in a research note on Thursday, July 17th. They issued a "buy" rating and a $200.00 price objective on the stock. Robert W. Baird reduced their price objective on shares of Fiserv from $225.00 to $185.00 and set an "outperform" rating on the stock in a research note on Thursday, July 24th. Jefferies Financial Group reduced their price objective on shares of Fiserv from $140.00 to $130.00 and set a "hold" rating on the stock in a research note on Monday, September 29th. Finally, Morgan Stanley reduced their price objective on shares of Fiserv from $268.00 to $266.00 and set an "overweight" rating on the stock in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $205.96.

Fiserv Price Performance

Shares of NYSE FI opened at $127.56 on Friday. The firm's 50-day moving average price is $134.59 and its 200-day moving average price is $165.68. Fiserv, Inc. has a 1-year low of $124.89 and a 1-year high of $238.59. The firm has a market capitalization of $69.34 billion, a P/E ratio of 21.30, a P/E/G ratio of 0.82 and a beta of 0.95. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.04. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.20 billion. During the same quarter in the prior year, the business earned $2.13 earnings per share. The business's quarterly 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. Equities research analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv Company 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.

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