Fiserv, Inc. (NYSE:FI) Shares Bought by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. grew its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 162.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,094 shares of the business services provider's stock after acquiring an additional 31,619 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in Fiserv were worth $11,283,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in FI. Norges Bank purchased a new position in shares of Fiserv in the 4th quarter valued at $1,406,452,000. GAMMA Investing LLC grew its stake in Fiserv by 21,681.0% during the 1st quarter. GAMMA Investing LLC now owns 3,821,905 shares of the business services provider's stock worth $843,991,000 after buying an additional 3,804,358 shares during the last quarter. Kovitz Investment Group Partners LLC grew its stake in Fiserv by 343.7% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider's stock worth $576,527,000 after buying an additional 2,174,025 shares during the last quarter. Alliancebernstein L.P. grew its stake in Fiserv by 65.6% during the 4th quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider's stock worth $1,116,919,000 after buying an additional 2,153,554 shares during the last quarter. Finally, FMR LLC grew its stake in Fiserv by 22.5% during the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider's stock worth $2,376,482,000 after buying an additional 2,126,419 shares during the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on FI. Tigress Financial boosted their target price on Fiserv from $244.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Royal Bank Of Canada set a $237.00 target price on Fiserv in a research note on Friday, April 25th. Truist Financial boosted their target price on Fiserv from $181.00 to $185.00 and gave the stock a "buy" rating in a research note on Thursday. Piper Sandler set a $218.00 target price on Fiserv in a research note on Friday, April 25th. Finally, Mizuho set a $200.00 target price on Fiserv in a research note on Thursday, May 15th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Fiserv currently has an average rating of "Moderate Buy" and an average target price of $220.59.

Insider Transactions at Fiserv

In related news, insider Adam L. Rosman sold 2,512 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total value 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. This represents a 4.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Andrew Gelb sold 5,652 shares of the company'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 completion of 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. Corporate insiders own 0.74% of the company's stock.

Fiserv Stock Performance

Shares of FI traded down $1.57 during mid-day trading on Friday, reaching $165.78. The company had a trading volume of 3,993,573 shares, compared to its average volume of 3,426,081. Fiserv, Inc. has a 52-week low of $154.17 and a 52-week high of $238.59. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $91.91 billion, a P/E ratio of 29.29, a PEG ratio of 1.01 and a beta of 0.91. The stock has a 50 day moving average of $168.12 and a two-hundred day moving average of $197.10.

Fiserv (NYSE:FI - Get Free Report) last issued its earnings results on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.06. Fiserv had a return on equity of 18.74% and a net margin of 15.68%. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the prior year, the business earned $1.88 earnings per share. The company's revenue was up 5.1% compared to the same quarter last year. On average, analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current 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.