Commerce Bank Cuts Stock Position in Fiserv, Inc. (NYSE:FI)

Key Points

• Commerce Bank reduced its position in Fiserv, Inc. by 1.2%, now owning 533,738 shares after selling 6,584 shares in the first quarter, making it the bank's 27th largest holding.
• Fiserv achieved a quarterly earnings per share (EPS) of $2.47, beating estimates by $0.04, and reported revenues of $5.20 billion, marking an 8% increase year-over-year.
• Wall Street analysts have varying price targets for Fiserv, with a consensus rating of “Moderate Buy” and an average target price of $207.08, reflecting a potential for both upside and caution in investment sentiment.

Commerce Bank cut its position in Fiserv, Inc. (NYSE:FI - Free Report) by 1.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 533,738 shares of the business services provider's stock after selling 6,584 shares during the quarter. Fiserv makes up approximately 0.8% of Commerce Bank's investment portfolio, making the stock its 27th largest holding. Commerce Bank owned about 0.10% of Fiserv worth $117,865,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of FI. Kestra Private Wealth Services LLC raised its stake in Fiserv by 3.0% in the first quarter. Kestra Private Wealth Services LLC now owns 7,891 shares of the business services provider's stock valued at $1,743,000 after buying an additional 230 shares during the last quarter. American National Bank & Trust increased its holdings in shares of Fiserv by 2.4% during the first quarter. American National Bank & Trust now owns 85,838 shares of the business services provider's stock valued at $18,956,000 after acquiring an additional 1,983 shares in the last quarter. Evercore Wealth Management LLC purchased a new position in shares of Fiserv in the 4th quarter valued at approximately $54,981,000. Meridian Wealth Advisors LLC boosted its stake in Fiserv by 4.1% in the 1st quarter. Meridian Wealth Advisors LLC now owns 26,865 shares of the business services provider's stock worth $5,933,000 after purchasing an additional 1,046 shares in the last quarter. Finally, Beck Mack & Oliver LLC grew its position in Fiserv by 0.5% during the 4th quarter. Beck Mack & Oliver LLC now owns 513,402 shares of the business services provider's stock worth $105,463,000 after purchasing an additional 2,589 shares during the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Price Performance

NYSE:FI opened at $138.99 on Friday. 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, Inc. has a 52 week low of $128.22 and a 52 week high of $238.59. The stock's 50-day moving average price is $163.09 and its 200-day moving average price is $193.22. The stock has a market capitalization of $75.56 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 0.92 and a beta of 0.91.

Fiserv (NYSE:FI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $2.47 EPS for the quarter, beating the consensus estimate of $2.43 by $0.04. The company had revenue of $5.20 billion for 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%. Fiserv's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company earned $2.13 earnings per share. As a group, equities analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FI has been the subject of a number of research analyst reports. KeyCorp decreased their price target on shares of Fiserv from $250.00 to $200.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. UBS Group cut their target price on Fiserv from $225.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, July 25th. Susquehanna lowered their price target on Fiserv from $240.00 to $220.00 and set a "positive" rating for the company in a research report on Thursday, July 24th. Tigress Financial boosted their price target on Fiserv from $244.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Finally, Mizuho cut their price objective on Fiserv from $194.00 to $165.00 and set an "outperform" rating on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $207.08.

Insiders Place Their Bets

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

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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