Assenagon Asset Management S.A. Increases Position in Fiserv, Inc. $FI

Key Points

• Assenagon Asset Management S.A. increased its holdings in Fiserv, Inc. by 939.0% in Q2, owning a total of 2,039,032 shares valued at approximately $351.55 million.
• Fiserv reported quarterly earnings of $2.47 per share, exceeding estimates, with revenue reaching $5.20 billion, reflecting an 8.0% year-over-year increase.
• Multiple equity analysts have adjusted their price targets for Fiserv, with a consensus target now set at $207.36, reflecting a rating of "Moderate Buy" from the analyst community.

Assenagon Asset Management S.A. boosted its holdings in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 939.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,039,032 shares of the business services provider's stock after purchasing an additional 1,842,784 shares during the period. Assenagon Asset Management S.A. owned about 0.37% of Fiserv worth $351,550,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in shares of Fiserv during the first quarter worth $1,722,584,000. JPMorgan Chase & Co. grew its holdings in Fiserv by 77.2% during the 1st quarter. JPMorgan Chase & Co. now owns 15,354,767 shares of the business services provider's stock worth $3,390,793,000 after acquiring an additional 6,691,703 shares during the period. GAMMA Investing LLC grew its holdings 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 acquiring an additional 3,804,358 shares during the period. Swedbank AB boosted its position in shares of Fiserv by 366.0% during the 2nd quarter. Swedbank AB now owns 1,588,747 shares of the business services provider's stock worth $273,916,000 after purchasing an additional 1,247,801 shares in the last quarter. Finally, GQG Partners LLC bought a new position in shares of Fiserv during the 1st quarter worth about $265,769,000. 90.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on FI. Robert W. Baird dropped their price target on shares of Fiserv from $225.00 to $185.00 and set an "outperform" rating on the stock in a research report on Thursday, July 24th. Barclays set a $175.00 price target on shares of Fiserv and gave the stock an "overweight" rating in a research note on Monday, July 28th. Wall Street Zen upgraded shares of Fiserv from a "hold" rating to a "buy" rating in a research note on Saturday. Truist Financial lifted their price objective on shares of Fiserv from $181.00 to $185.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. cut their price target on shares of Fiserv from $210.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Fiserv has a consensus rating of "Moderate Buy" and an average price target of $207.36.

Fiserv Trading Down 0.3%

Shares of FI stock traded down $0.43 during mid-day trading on Tuesday, reaching $130.05. The stock had a trading volume of 705,408 shares, compared to its average volume of 4,426,080. The stock's 50-day moving average price is $139.86 and its two-hundred day moving average price is $170.39. Fiserv, Inc. has a 52-week low of $128.22 and a 52-week high of $238.59. The firm has a market capitalization of $70.69 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 0.86 and a beta of 0.94. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.04. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. The company 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. Fiserv's quarterly revenue was up 8.0% on a year-over-year basis. Fiserv has set its FY 2025 guidance at 10.150-10.30 EPS. Equities analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

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.