PNC Financial Services Group Inc. raised its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 11.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 167,106 shares of the business services provider's stock after purchasing an additional 17,435 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Fiserv were worth $36,902,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. FMR LLC raised its stake in shares of Fiserv by 22.5% in the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider's stock valued at $2,376,482,000 after acquiring an additional 2,126,419 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Fiserv by 3.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 8,284,433 shares of the business services provider's stock valued at $1,829,451,000 after acquiring an additional 253,544 shares during the period. Nuveen Asset Management LLC raised its stake in shares of Fiserv by 5.2% in the 4th 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 acquiring an additional 340,938 shares during the period. Northern Trust Corp raised its stake in shares of Fiserv by 19.5% in the 4th quarter. Northern Trust Corp now owns 6,206,720 shares of the business services provider's stock valued at $1,274,984,000 after acquiring an additional 1,014,126 shares during the period. Finally, Sanders Capital LLC raised its stake in shares of Fiserv by 9.6% in the 4th quarter. Sanders Capital LLC now owns 4,662,197 shares of the business services provider's stock valued at $957,709,000 after acquiring an additional 406,460 shares during the period. Institutional investors and hedge funds own 90.98% of the company's stock.
Fiserv Price Performance
FI opened at $135.34 on Monday. The company has a 50-day moving average of $162.62 and a 200-day moving average of $192.57. The company has a market capitalization of $73.57 billion, a P/E ratio of 22.59, a PEG ratio of 0.88 and a beta of 0.91. Fiserv, Inc. has a 1-year low of $128.22 and a 1-year high of $238.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09.
Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share for the quarter, beating 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 business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.20 billion. During the same quarter in the prior year, the firm earned $2.13 EPS. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. Equities analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.
Insider Transactions at Fiserv
In related news, insider Adam L. Rosman sold 2,512 shares of the business's stock in a transaction dated 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 sale, the insider owned 53,385 shares of the company's stock, valued at $8,577,901.80. This represents a 4.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew Gelb sold 5,652 shares of the business'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 sale, the executive vice president directly 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. 0.75% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of brokerages have recently commented on FI. Redburn Atlantic reissued a "sell" rating and issued a $150.00 target price on shares of Fiserv in a research note on Thursday, April 17th. UBS Group cut their target price on shares of Fiserv from $225.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, July 25th. Morgan Stanley cut their price objective on shares of Fiserv from $268.00 to $266.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Piper Sandler set a $218.00 price objective on shares of Fiserv in a report on Friday, April 25th. Finally, Tigress Financial boosted their price objective on shares of Fiserv from $244.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $207.08.
View Our Latest Research Report on FI
About Fiserv
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding FI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fiserv, Inc. (NYSE:FI - Free Report).
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