Mediolanum International Funds Ltd Purchases 24,143 Shares of Fiserv, Inc. (NYSE:FI)

Key Points

• Mediolanum International Funds Ltd increased its holdings in Fiserv, Inc. by 10.9% during the first quarter, owning a total of 245,454 shares valued at approximately $53 million.
• Fiserv reported $2.47 earnings per share for the quarter, exceeding analysts' expectations, with revenue of $5.20 billion, marking an 8% year-over-year increase.
• As of the latest reports, institutional investors control 90.98% of Fiserv's shares, with research analysts offering a consensus rating of "Moderate Buy" and an average price target of $210.54.

Mediolanum International Funds Ltd boosted its stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 10.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 245,454 shares of the business services provider's stock after purchasing an additional 24,143 shares during the period. Fiserv comprises approximately 0.7% of Mediolanum International Funds Ltd's holdings, making the stock its 27th largest position. Mediolanum International Funds Ltd's holdings in Fiserv were worth $53,050,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FI. Brighton Jones LLC grew its position in 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 purchasing an additional 2,033 shares in the last quarter. Congress Wealth Management LLC DE grew its position in Fiserv by 6.8% during the fourth quarter. Congress Wealth Management LLC DE now owns 3,706 shares of the business services provider's stock valued at $761,000 after purchasing an additional 235 shares in the last quarter. Modern Wealth Management LLC purchased a new position in Fiserv during the fourth quarter valued at approximately $214,000. Financial Counselors Inc. grew its position in Fiserv by 4.1% during the fourth quarter. Financial Counselors Inc. now owns 2,896 shares of the business services provider's stock valued at $595,000 after purchasing an additional 113 shares in the last quarter. Finally, NEOS Investment Management LLC grew its position in Fiserv by 31.6% during the fourth quarter. NEOS Investment Management LLC now owns 36,294 shares of the business services provider's stock valued at $7,456,000 after purchasing an additional 8,711 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Adam L. Rosman sold 2,512 shares of the stock in a transaction 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 completion of the transaction, the insider owned 53,385 shares in the company, valued at approximately $8,577,901.80. This represents a 4.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 transaction 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 approximately $4,061,600. This represents a 18.21% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Mizuho reduced their target price on shares of Fiserv from $194.00 to $165.00 and set an "outperform" rating for the company in a research note on Tuesday. Morgan Stanley reduced their target price on shares of Fiserv from $268.00 to $266.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Royal Bank Of Canada set a $237.00 target price on shares of Fiserv in a research note on Friday, April 25th. Robert W. Baird reduced their target price on shares of Fiserv from $225.00 to $185.00 and set an "outperform" rating for the company in a research note on Thursday, July 24th. Finally, Citigroup reduced their target price on shares of Fiserv from $267.00 to $240.00 and set a "buy" rating for the company in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Fiserv currently has a consensus rating of "Moderate Buy" and a consensus price target of $207.08.

Fiserv Stock Performance

FI traded down $0.60 on Wednesday, hitting $141.91. 1,846,421 shares of the stock traded hands, compared to its average volume of 4,431,401. Fiserv, Inc. has a 52 week low of $128.22 and a 52 week high of $238.59. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $77.14 billion, a PE ratio of 23.69, a P/E/G ratio of 0.91 and a beta of 0.91. The business has a fifty day moving average price of $163.97 and a two-hundred day moving average price of $194.02.

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

Fiserv 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.