Charles Schwab Investment Management Inc. Grows Stock Holdings in Fiserv, Inc. (NYSE:FI)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Fiserv, Inc. by 4.4% during Q1, owning approximately 3.78 million shares valued at $834.9 million.
• Fiserv reported $2.47 earnings per share for the latest quarter, exceeding estimates, with an annual revenue increase of 8% to $5.20 billion.
• Institutional investors now hold 90.98% of Fiserv's stock, indicating a strong presence of big players in the market.

Charles Schwab Investment Management Inc. grew its position in Fiserv, Inc. (NYSE:FI - Free Report) by 4.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,780,854 shares of the business services provider's stock after buying an additional 160,069 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.68% of Fiserv worth $834,926,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vega Investment Solutions purchased a new stake in shares of Fiserv in the 4th quarter worth approximately $25,000. Park Square Financial Group LLC purchased a new stake in Fiserv during the fourth quarter worth $28,000. Abound Financial LLC bought a new stake in Fiserv during the 1st quarter valued at $38,000. Quarry LP boosted its position in Fiserv by 51.9% during the 4th quarter. Quarry LP now owns 205 shares of the business services provider's stock valued at $42,000 after acquiring an additional 70 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Fiserv in the 4th quarter valued at $54,000. Institutional investors own 90.98% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FI. KeyCorp decreased their price objective on Fiserv from $250.00 to $200.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Truist Financial boosted their target price on shares of Fiserv from $181.00 to $185.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. UBS Group lowered their price target on shares of Fiserv from $225.00 to $170.00 and set a "buy" rating on the stock in a report on Friday, July 25th. Jefferies Financial Group cut their price objective on shares of Fiserv from $180.00 to $165.00 and set a "hold" rating on the stock in a research report on Tuesday, May 27th. Finally, Morgan Stanley decreased their target price on shares of Fiserv from $268.00 to $266.00 and set an "overweight" rating for the company in a research report on Monday, July 21st. One investment 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 issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $207.08.

Insider Transactions at Fiserv

In other 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 sale, the insider directly owned 53,385 shares in the company, valued at $8,577,901.80. This trade represents a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew Gelb sold 5,652 shares of the firm's stock in a transaction dated 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 directly owned 25,385 shares in the company, valued at $4,061,600. This represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.75% of the stock is owned by company insiders.

Fiserv Stock Performance

Shares of FI traded down $0.12 during mid-day trading on Tuesday, reaching $132.11. The company had a trading volume of 970,620 shares, compared to its average volume of 4,466,933. The stock has a market capitalization of $71.81 billion, a P/E ratio of 22.07, a PEG ratio of 0.87 and a beta of 0.91. Fiserv, Inc. has a 52-week low of $128.22 and a 52-week high of $238.59. The stock has a 50 day moving average of $159.40 and a two-hundred day moving average of $189.43. The company has a quick ratio of 1.09, a current 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, topping 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 the consensus estimate of $5.20 billion. During the same period in the prior year, the firm posted $2.13 earnings per share. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. On average, analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current 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.