Federated Hermes Inc. Lowers Stock Holdings in Fiserv, Inc. (NYSE:FI)

Key Points

• Federated Hermes Inc. has reduced its holdings in Fiserv, Inc. by 24.1%, selling 23,585 shares and now owning 74,295 shares valued at approximately $16.4 million.
• Fiserv reported $2.47 EPS for the quarter, exceeding estimates and demonstrating an 8% year-over-year revenue growth with a net margin of 16.00%.
• Wall Street analysts have mixed views on Fiserv, with target prices ranging from $165 to $266, and a consensus rating of "Moderate Buy".

Federated Hermes Inc. lessened its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 24.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 74,295 shares of the business services provider's stock after selling 23,585 shares during the period. Federated Hermes Inc.'s holdings in Fiserv were worth $16,407,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of FI. Brighton Jones LLC grew its stake in shares of Fiserv by 91.9% during the fourth quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider's stock valued at $872,000 after buying an additional 2,033 shares during the last quarter. Arete Wealth Advisors LLC increased its stake in Fiserv by 16.1% in the 4th quarter. Arete Wealth Advisors LLC now owns 1,881 shares of the business services provider's stock worth $387,000 after purchasing an additional 261 shares during the period. Broderick Brian C lifted its position in Fiserv by 1.0% in the fourth quarter. Broderick Brian C now owns 97,810 shares of the business services provider's stock valued at $20,092,000 after purchasing an additional 924 shares during the last quarter. Smith Moore & CO. boosted its stake in shares of Fiserv by 2.3% during the fourth quarter. Smith Moore & CO. now owns 6,937 shares of the business services provider's stock valued at $1,425,000 after purchasing an additional 155 shares during the period. Finally, Resona Asset Management Co. Ltd. bought a new position in shares of Fiserv in the fourth quarter worth approximately $36,296,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Andrew Gelb sold 5,652 shares of the firm'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 owned 25,385 shares of the company's stock, valued at $4,061,600. This trade represents a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total value of $403,628.16. Following the transaction, the insider directly 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 disclosure for this sale can be found here. Insiders own 0.75% of the company's stock.

Fiserv Stock Performance

Shares of NYSE FI traded down $0.06 during midday trading on Wednesday, hitting $134.22. 5,691,118 shares of the stock traded hands, compared to its average volume of 4,488,606. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09. Fiserv, Inc. has a one year low of $128.22 and a one year high of $238.59. The firm has a market capitalization of $72.96 billion, a P/E ratio of 22.41, a PEG ratio of 0.89 and a beta of 0.91. The firm has a 50-day moving average of $161.64 and a two-hundred day moving average of $191.66.

Fiserv (NYSE:FI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.04. The firm had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $5.20 billion. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. The business's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.13 EPS. On average, equities analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on FI. Royal Bank Of Canada set a $237.00 price target on shares of Fiserv in a research report on Friday, April 25th. Citigroup reduced their price objective on shares of Fiserv from $267.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Piper Sandler set a $218.00 target price on Fiserv in a report on Friday, April 25th. JPMorgan Chase & Co. lowered their target price on Fiserv from $210.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Finally, Barclays set a $175.00 price target on Fiserv and gave the company an "overweight" rating in a research report on Monday, July 28th. One 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 given a strong buy rating to the company. According to MarketBeat, Fiserv has an average rating of "Moderate Buy" and an average target price of $207.08.

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.