Fiserv, Inc. (NYSE:FI) Shares Purchased by Vestcor Inc

Key Points

• Vestcor Inc has increased its holdings in Fiserv, Inc. by 50.7%, now owning 31,072 shares valued at approximately $6.86 million.
• Analysts have downgraded their price targets for Fiserv, with Jefferies Financial Group lowering its target from $180 to $165, while the consensus rating remains a "Moderate Buy" with an average price target of $207.08.
• Insider Andrew Gelb sold 5,652 shares of Fiserv at an average price of $160.00, reducing his position by 18.21%.

Vestcor Inc boosted its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 50.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,072 shares of the business services provider's stock after buying an additional 10,460 shares during the period. Vestcor Inc's holdings in Fiserv were worth $6,862,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of FI. Geode Capital Management LLC lifted its position in Fiserv by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 11,891,207 shares of the business services provider's stock worth $2,435,280,000 after buying an additional 218,833 shares in the last quarter. FMR LLC grew its holdings in 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 buying an additional 2,126,419 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in 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 buying an additional 253,544 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in 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 buying an additional 340,938 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in 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 buying an additional 1,014,126 shares in the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of the firm's stock in a transaction dated 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 owned 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $403,628.16. Following the transaction, the insider directly owned 53,385 shares in the company, valued at approximately $8,577,901.80. The trade was a 4.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.74% of the company's stock.

Wall Street Analysts Forecast Growth

FI has been the subject of several analyst reports. Piper Sandler set a $218.00 target price on Fiserv in a report on Friday, April 25th. Keefe, Bruyette & Woods dropped their target price on Fiserv from $240.00 to $200.00 and set an "outperform" rating for the company in a report on Wednesday, May 21st. Citigroup decreased their price objective on Fiserv from $267.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Susquehanna decreased their price objective on Fiserv from $240.00 to $220.00 and set a "positive" rating on the stock in a report on Thursday, July 24th. Finally, Jefferies Financial Group decreased their price objective on Fiserv from $180.00 to $165.00 and set a "hold" rating on the stock in a report on Tuesday, May 27th. One equities research 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $207.08.

Fiserv Stock Down 2.6%

NYSE:FI traded down $3.60 during trading hours on Friday, hitting $135.34. The company's stock had a trading volume of 5,449,415 shares, compared to its average volume of 6,346,013. The stock has a market capitalization of $73.57 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 0.90 and a beta of 0.91. The stock has a fifty day moving average of $162.62 and a 200-day moving average of $192.74. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09. Fiserv, Inc. has a 52-week low of $128.22 and a 52-week high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The business services provider reported $2.47 EPS for the quarter, beating the consensus estimate of $2.43 by $0.04. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.20 billion. Fiserv had a return on equity of 19.69% and a net margin of 16.00%. Fiserv's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.13 earnings per share. On average, equities analysts forecast 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.