Cardinal Point Capital Management ULC Boosts Holdings in Fiserv, Inc. $FI

Key Points

• Cardinal Point Capital Management ULC significantly increased its holdings in Fiserv, Inc. by 585.8% in the 2nd quarter, owning a total of 8,607 shares valued at approximately $1.48 million.
• Major institutional investors like Vanguard Group and JPMorgan Chase & Co. have also raised their stakes in Fiserv, with hedge funds owning 90.98% of the company's stock.
• Analysts have mixed ratings on Fiserv, with a consensus rating of "Moderate Buy" and an average target price of $183.44, despite recent downgrades from firms like TD Cowen and UBS Group.

Cardinal Point Capital Management ULC lifted its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 585.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,607 shares of the business services provider's stock after purchasing an additional 7,352 shares during the quarter. Cardinal Point Capital Management ULC's holdings in Fiserv were worth $1,484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Fiserv by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 50,079,534 shares of the business services provider's stock worth $11,059,063,000 after purchasing an additional 535,407 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Fiserv by 77.2% in the 1st quarter. JPMorgan Chase & Co. now owns 15,354,767 shares of the business services provider's stock worth $3,390,793,000 after purchasing an additional 6,691,703 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Fiserv by 3.2% in the 1st 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 purchasing an additional 253,544 shares during the last quarter. Nuveen LLC purchased a new position in shares of Fiserv in the 1st quarter worth about $1,722,584,000. Finally, Alliancebernstein L.P. raised its position in shares of Fiserv by 5.3% in the 1st quarter. Alliancebernstein L.P. now owns 5,724,666 shares of the business services provider's stock worth $1,264,178,000 after purchasing an additional 287,420 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wells Fargo & Company raised Fiserv to a "hold" rating in a research report on Wednesday. Weiss Ratings reissued a "hold (c)" rating on shares of Fiserv in a research report on Wednesday, October 8th. TD Cowen decreased their target price on Fiserv from $188.00 to $177.00 and set a "buy" rating for the company in a research report on Friday, October 17th. Citigroup raised Fiserv to a "hold" rating in a research report on Thursday. Finally, UBS Group decreased their target price on Fiserv from $225.00 to $170.00 and set a "buy" rating for the company in a research report on Friday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Fiserv presently has a consensus rating of "Moderate Buy" and an average target price of $183.44.

Fiserv Trading Down 1.0%

FI stock opened at $123.97 on Friday. Fiserv, Inc. has a 1-year low of $117.84 and a 1-year high of $238.59. 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 company has a market capitalization of $67.39 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 0.83 and a beta of 0.95. The business has a 50 day simple moving average of $131.24 and a two-hundred day simple moving average of $156.63.

Fiserv (NYSE:FI - Get Free Report) last posted its quarterly earnings results on Tuesday, March 26th. The business services provider reported $1.91 earnings per share for the quarter. Fiserv had a return on equity of 19.69% and a net margin of 16.00%.The business had revenue of $4.32 billion during the quarter. Research analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

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.

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