DAVENPORT & Co LLC Has $2.23 Million Stock Position in Fiserv, Inc. $FI

Key Points

• DAVENPORT & Co LLC reduced its stake in Fiserv, Inc. by 16.9%, now holding shares worth approximately $2.23 million.
• Multiple large investors have recently increased their positions in Fiserv, with 90.98% of the stock held by institutional investors and hedge funds.
• Fiserv's earnings report showed earnings per share of $2.47, exceeding expectations, with a revenue of $5.20 billion, signifying an 8.0% increase year-over-year.

DAVENPORT & Co LLC trimmed its holdings in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 16.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,928 shares of the business services provider's stock after selling 2,620 shares during the period. DAVENPORT & Co LLC's holdings in Fiserv were worth $2,229,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of FI. Brighton Jones LLC increased its position in Fiserv by 91.9% in 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 during the last quarter. Bison Wealth LLC increased its position in Fiserv by 5.3% in the 4th quarter. Bison Wealth LLC now owns 2,299 shares of the business services provider's stock worth $472,000 after purchasing an additional 116 shares during the last quarter. Wedge Capital Management L L P NC increased its position in Fiserv by 11.6% in the 1st quarter. Wedge Capital Management L L P NC now owns 1,106 shares of the business services provider's stock worth $244,000 after purchasing an additional 115 shares during the last quarter. Accurate Wealth Management LLC increased its position in Fiserv by 5.8% in the 1st quarter. Accurate Wealth Management LLC now owns 1,338 shares of the business services provider's stock worth $278,000 after purchasing an additional 73 shares during the last quarter. Finally, Focus Financial Network Inc. increased its position in Fiserv by 4.6% in the 1st quarter. Focus Financial Network Inc. now owns 9,493 shares of the business services provider's stock worth $2,096,000 after purchasing an additional 414 shares during the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FI has been the topic of several research reports. Wall Street Zen raised Fiserv from a "hold" rating to a "buy" rating in a research report on Saturday, September 20th. Mizuho lowered their price objective on Fiserv from $194.00 to $165.00 and set an "outperform" rating on the stock in a report on Tuesday, July 29th. Jefferies Financial Group lowered their price objective on Fiserv from $140.00 to $130.00 and set a "hold" rating on the stock in a report on Monday, September 29th. JPMorgan Chase & Co. lowered their price objective on Fiserv from $210.00 to $190.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Finally, Monness Crespi & Hardt raised Fiserv from a "sell" rating to a "neutral" rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Fiserv presently has an average rating of "Moderate Buy" and a consensus price target of $205.96.

Fiserv Price Performance

Shares of NYSE:FI opened at $125.92 on Friday. The business has a 50 day moving average price of $133.43 and a 200 day moving average price of $163.07. Fiserv, Inc. has a twelve month low of $124.89 and a twelve month high of $238.59. The company has a market cap of $68.45 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 0.82 and a beta of 0.95. 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 (NYSE:FI - Get Free Report) last announced its earnings results 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 return on equity of 19.69% and a net margin of 16.00%.The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.20 billion. During the same quarter in the prior year, the company earned $2.13 EPS. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. Fiserv has set its FY 2025 guidance at 10.150-10.30 EPS. Research analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current 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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