State of Alaska Department of Revenue Purchases 1,795 Shares of Fiserv, Inc. (NYSE:FI)

State of Alaska Department of Revenue boosted its stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 2.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,408 shares of the business services provider's stock after acquiring an additional 1,795 shares during the quarter. State of Alaska Department of Revenue's holdings in Fiserv were worth $16,872,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in shares of Fiserv by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 11,891,207 shares of the business services provider's stock valued at $2,435,280,000 after buying an additional 218,833 shares in the last quarter. FMR LLC increased its stake in shares of Fiserv by 22.5% in the fourth quarter. FMR LLC now owns 11,568,895 shares of the business services provider's stock valued at $2,376,482,000 after buying an additional 2,126,419 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Fiserv by 16.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,030,889 shares of the business services provider's stock valued at $1,649,705,000 after buying an additional 1,121,597 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of Fiserv by 5.2% in the fourth quarter. Nuveen Asset Management LLC now owns 6,936,554 shares of the business services provider's stock valued at $1,424,907,000 after buying an additional 340,938 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Fiserv in the fourth quarter valued at $1,406,452,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FI has been the subject of a number of research reports. UBS Group lowered their target price on Fiserv from $255.00 to $225.00 and set a "buy" rating for the company in a research note on Wednesday, May 28th. Piper Sandler set a $218.00 price objective on Fiserv in a report on Friday, April 25th. Redburn Atlantic reaffirmed a "sell" rating and issued a $150.00 target price on shares of Fiserv in a research note on Thursday, April 17th. Jefferies Financial Group lowered their price target on shares of Fiserv from $180.00 to $165.00 and set a "hold" rating for the company in a research report on Tuesday, May 27th. Finally, Tigress Financial increased their price objective on shares of Fiserv from $244.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $221.23.

Insiders Place Their Bets

In other Fiserv news, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total transaction of $403,628.16. Following the completion of the transaction, the insider now directly owns 53,385 shares of the company's stock, valued at $8,577,901.80. The trade was a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total transaction of $904,320.00. Following the transaction, the executive vice president now directly owns 25,385 shares of the company's stock, valued at approximately $4,061,600. This trade represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.74% of the company's stock.

Fiserv Stock Up 1.0%

Shares of NYSE:FI traded up $1.61 during trading on Friday, hitting $162.97. 8,513,492 shares of the company were exchanged, compared to its average volume of 3,289,714. The stock has a market cap of $90.36 billion, a price-to-earnings ratio of 28.79, a P/E/G ratio of 1.01 and a beta of 0.90. Fiserv, Inc. has a fifty-two week low of $146.46 and a fifty-two week high of $238.59. The firm has a fifty day moving average price of $177.23 and a two-hundred day moving average price of $201.64. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.02.

Fiserv (NYSE:FI - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.06. Fiserv had a net margin of 15.68% and a return on equity of 18.74%. The firm had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.86 billion. During the same period in the previous year, the business posted $1.88 earnings per share. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, research analysts anticipate 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.