Invesco Ltd. Has $1.43 Billion Stock Position in Fiserv, Inc. (NYSE:FI)

Key Points

• Invesco Ltd. has reduced its holdings in Fiserv, Inc. by 4.8%, now owning approximately 1.17% of the company, valued at $1.43 billion.
• Fiserv's stock reported a slight increase of 0.3%, with a current market price of $133.10, lower than its 12-month high of $238.59.
• The company's recent earnings report showed earnings per share at $2.47, exceeding analyst expectations of $2.43, along with an 8% year-over-year revenue growth.

Invesco Ltd. lessened its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 4.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,478,558 shares of the business services provider's stock after selling 327,583 shares during the quarter. Invesco Ltd. owned about 1.17% of Fiserv worth $1,430,660,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fiduciary Family Office LLC purchased a new position in shares of Fiserv during the 1st quarter valued at approximately $2,547,000. JPMorgan Chase & Co. boosted its stake in shares of Fiserv by 77.2% during the 1st quarter. JPMorgan Chase & Co. now owns 15,354,767 shares of the business services provider's stock valued at $3,390,793,000 after buying an additional 6,691,703 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Fiserv during the 1st quarter valued at approximately $643,000. Townsquare Capital LLC boosted its stake in shares of Fiserv by 27.2% during the 1st quarter. Townsquare Capital LLC now owns 68,511 shares of the business services provider's stock valued at $15,129,000 after buying an additional 14,638 shares during the last quarter. Finally, Founders Financial Alliance LLC purchased a new position in shares of Fiserv during the 1st quarter valued at approximately $258,000. Hedge funds and other institutional investors own 90.98% of the company's stock.

Fiserv Price Performance

FI stock traded up $0.22 during trading hours on Thursday, hitting $134.51. 4,158,267 shares of the stock traded hands, compared to its average volume of 6,827,426. The stock has a 50-day simple moving average of $157.58 and a 200 day simple moving average of $188.12. Fiserv, Inc. has a one year low of $128.22 and a one year high of $238.59. The company has a market cap of $73.12 billion, a P/E ratio of 22.46, a P/E/G ratio of 0.87 and a beta of 0.91. 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 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 business had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.20 billion. During the same quarter last year, the business posted $2.13 earnings per share. The company's quarterly revenue was up 8.0% on a year-over-year basis. Equities analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Insider Activity

In related news, insider Adam L. Rosman sold 2,512 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $8,577,901.80. This trade represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction on Wednesday, May 28th. The shares were 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 owned 25,385 shares of the company's stock, valued at $4,061,600. This trade represents a 18.21% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Jefferies Financial Group reduced their target price on Fiserv from $180.00 to $165.00 and set a "hold" rating for the company in a research note on Tuesday, May 27th. The Goldman Sachs Group reduced their target price on Fiserv from $223.00 to $194.00 and set a "buy" rating for the company in a research note on Monday, May 19th. BMO Capital Markets reduced their target price on Fiserv from $254.00 to $232.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Keefe, Bruyette & Woods reduced their price objective on Fiserv from $240.00 to $200.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 21st. Finally, Susquehanna reduced their price objective on Fiserv from $240.00 to $220.00 and set a "positive" rating on the stock in a research note on Thursday, July 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Fiserv presently has an average rating of "Moderate Buy" and a consensus 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.