Charles Schwab Investment Management Inc. Purchases 160,069 Shares of 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. increased its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 4.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,780,854 shares of the business services provider's stock after purchasing an additional 160,069 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.68% of Fiserv worth $834,926,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Vega Investment Solutions bought a new stake in Fiserv during the fourth quarter worth about $25,000. Park Square Financial Group LLC acquired a new position in shares of Fiserv during the 4th quarter worth approximately $28,000. Abound Financial LLC bought a new stake in shares of Fiserv during the 1st quarter worth approximately $38,000. Quarry LP boosted its holdings in shares of Fiserv by 51.9% in the 4th quarter. Quarry LP now owns 205 shares of the business services provider's stock valued at $42,000 after buying an additional 70 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC bought a new position in shares of Fiserv in the fourth quarter valued at $54,000. Institutional investors own 90.98% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Fiserv from $210.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Susquehanna dropped their target price on shares of Fiserv from $240.00 to $220.00 and set a "positive" rating on the stock in a report on Thursday, July 24th. BMO Capital Markets cut their target price on shares of Fiserv from $254.00 to $232.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Monness Crespi & Hardt raised Fiserv from a "sell" rating to a "neutral" rating in a research report on Monday, July 21st. Finally, Jefferies Financial Group decreased their target price on Fiserv from $180.00 to $165.00 and set a "hold" rating on the stock in a report on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $207.08.

Fiserv Trading Up 0.3%

NYSE FI traded up $0.40 during trading hours on Friday, reaching $133.10. The company's stock had a trading volume of 3,927,627 shares, compared to its average volume of 7,009,811. The firm has a fifty day simple moving average of $159.99 and a 200-day simple moving average of $190.08. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.09. Fiserv, Inc. has a 52 week low of $128.22 and a 52 week high of $238.59. The stock has a market cap of $72.35 billion, a P/E ratio of 22.22, a P/E/G ratio of 0.87 and a beta of 0.91.

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

Insider Buying and Selling at Fiserv

In other news, insider Adam L. Rosman sold 2,512 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was 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 $8,577,901.80. The trade was a 4.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrew Gelb sold 5,652 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total value of $904,320.00. Following the sale, the executive vice president directly owned 25,385 shares of the company's stock, valued at $4,061,600. This represents a 18.21% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company's stock.

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.