Dillon & Associates Inc. Increases Stock Holdings in Fiserv, Inc. (NYSE:FI)

Key Points

• Dillon & Associates Inc. increased its stake in Fiserv, Inc. by 6.9% in Q1, owning 81,151 shares valued at approximately $17.93 million.
• Other institutional investors, including Brighton Jones LLC and Scotia Capital Inc., also boosted their holdings in Fiserv during the previous quarter.
• Fiserv reported a quarterly EPS of $2.47, surpassing analysts' expectations and reflecting an 8.0% revenue growth year-over-year.

Dillon & Associates Inc. grew its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,151 shares of the business services provider's stock after acquiring an additional 5,256 shares during the quarter. Fiserv comprises 2.7% of Dillon & Associates Inc.'s holdings, making the stock its 10th largest holding. Dillon & Associates Inc.'s holdings in Fiserv were worth $17,934,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its stake in Fiserv by 91.9% during the 4th quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider's stock valued at $872,000 after purchasing an additional 2,033 shares in the last quarter. Scotia Capital Inc. increased its stake in Fiserv by 24.6% during the 4th quarter. Scotia Capital Inc. now owns 16,283 shares of the business services provider's stock valued at $3,345,000 after purchasing an additional 3,215 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Fiserv by 4.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 87,727 shares of the business services provider's stock valued at $18,013,000 after acquiring an additional 3,787 shares in the last quarter. Townsquare Capital LLC boosted its holdings in Fiserv by 33.4% during the 4th quarter. Townsquare Capital LLC now owns 53,873 shares of the business services provider's stock worth $11,066,000 after acquiring an additional 13,474 shares during the last quarter. Finally, Sagespring Wealth Partners LLC bought a new position in shares of Fiserv during the fourth quarter valued at about $2,606,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Fiserv Stock Up 0.3%

Shares of Fiserv stock opened at $133.10 on Monday. The company's 50 day moving average price is $159.99 and its 200-day moving average price is $189.97. Fiserv, Inc. has a 52-week low of $128.22 and a 52-week high of $238.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $72.35 billion, a price-to-earnings ratio of 22.22, a P/E/G ratio of 0.87 and a beta of 0.91.

Fiserv (NYSE:FI - Get Free Report) last released 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 net margin of 16.00% and a return on equity of 19.69%. The firm had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $5.20 billion. During the same quarter in the previous year, the company earned $2.13 earnings per share. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. Equities research analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

Insider Activity

In other Fiserv news, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction on 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 in the company, 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 filing with the Securities & Exchange Commission, 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 transaction of $904,320.00. Following the completion of the transaction, the executive vice president owned 25,385 shares in the company, valued at approximately $4,061,600. The trade was a 18.21% decrease in their position. The disclosure for this sale can be found here. 0.75% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on FI shares. Monness Crespi & Hardt raised shares of Fiserv from a "sell" rating to a "neutral" rating in a research report on Monday, July 21st. BMO Capital Markets decreased their target price on Fiserv from $254.00 to $232.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. cut their price target on shares of Fiserv from $210.00 to $190.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Citigroup cut their price target on shares of Fiserv from $267.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Finally, Susquehanna lowered their price objective on shares of Fiserv from $240.00 to $220.00 and set a "positive" rating on the stock in a research report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $207.08.

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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