Cetera Investment Advisers Purchases 12,437 Shares of Fiserv, Inc. (NYSE:FI)

Key Points

• Cetera Investment Advisers increased its stake in Fiserv, Inc. by 12.7%, purchasing an additional 12,437 shares, bringing its total holdings to 110,358 shares valued at $24.37 million.
• Several institutional investors have recently changed their positions in Fiserv, with institutional ownership now at 90.98% of the company’s stock.
• Fiserv reported quarterly earnings of $2.47 per share, surpassing analysts' expectations, and achieved a revenue of $5.20 billion, reflecting an 8.0% increase compared to the same quarter last year.

Cetera Investment Advisers grew its holdings in Fiserv, Inc. (NYSE:FI - Free Report) by 12.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 110,358 shares of the business services provider's stock after buying an additional 12,437 shares during the quarter. Cetera Investment Advisers' holdings in Fiserv were worth $24,370,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Brighton Jones LLC increased its position in shares of 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 purchasing an additional 2,033 shares in the last quarter. Level Four Advisory Services LLC increased its position in shares of Fiserv by 4.0% during the 4th quarter. Level Four Advisory Services LLC now owns 9,838 shares of the business services provider's stock worth $2,021,000 after purchasing an additional 377 shares in the last quarter. RiverFront Investment Group LLC acquired a new stake in Fiserv in the 4th quarter valued at about $208,000. Allstate Corp acquired a new stake in Fiserv in the 4th quarter valued at about $3,538,000. Finally, Allianz SE acquired a new stake in Fiserv in the 4th quarter valued at about $2,464,000. Institutional investors and hedge funds own 90.98% of the company's stock.

Analysts Set New Price Targets

FI has been the topic of several recent research reports. Susquehanna reduced their target price on shares of Fiserv from $240.00 to $220.00 and set a "positive" rating on the stock in a research note on Thursday, July 24th. Piper Sandler set a $218.00 target price on shares of Fiserv in a research note on Friday, April 25th. UBS Group reduced their price objective on shares of Fiserv from $225.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, July 25th. Redburn Atlantic reaffirmed a "sell" rating and issued a $150.00 price target on shares of Fiserv in a research note on Thursday, April 17th. Finally, Stephens cut their price target on shares of Fiserv from $240.00 to $180.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $207.08.

Insider Transactions at Fiserv

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

Fiserv Stock Performance

Shares of Fiserv stock traded down $0.56 during trading hours on Thursday, hitting $140.29. 1,712,034 shares of the company's stock traded hands, compared to its average volume of 4,435,218. The company has a fifty day simple moving average of $163.54 and a 200-day simple moving average of $193.65. Fiserv, Inc. has a 12-month low of $128.22 and a 12-month high of $238.59. The stock has a market capitalization of $76.26 billion, a price-to-earnings ratio of 23.39, a PEG ratio of 0.93 and a beta of 0.91. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick 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 (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $5.20 billion. During the same period in the previous year, the business posted $2.13 EPS. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. Equities 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.