CX Institutional Purchases 10,340 Shares of Fiserv, Inc. (NYSE:FI)

CX Institutional raised its position in Fiserv, Inc. (NYSE:FI - Free Report) by 20.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 59,738 shares of the business services provider's stock after purchasing an additional 10,340 shares during the period. CX Institutional's holdings in Fiserv were worth $13,192,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of FI. LaFleur & Godfrey LLC raised its holdings in Fiserv by 0.4% during the 4th quarter. LaFleur & Godfrey LLC now owns 18,116 shares of the business services provider's stock worth $3,721,000 after buying an additional 75 shares during the period. Brighton Jones LLC raised its holdings in shares of Fiserv by 91.9% during the fourth quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider's stock worth $872,000 after acquiring an additional 2,033 shares during the period. Union Bancaire Privee UBP SA bought a new stake in Fiserv in the 4th quarter valued at $11,330,000. Kingsview Wealth Management LLC boosted its stake in Fiserv by 3.5% in the 4th quarter. Kingsview Wealth Management LLC now owns 6,244 shares of the business services provider's stock worth $1,283,000 after purchasing an additional 209 shares during the period. Finally, Empowered Funds LLC increased its holdings in Fiserv by 12.5% during the 4th quarter. Empowered Funds LLC now owns 10,492 shares of the business services provider's stock worth $2,155,000 after purchasing an additional 1,164 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Piper Sandler set a $218.00 price target on Fiserv in a report on Friday, April 25th. BMO Capital Markets dropped their target price on Fiserv from $254.00 to $232.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Redburn Atlantic reaffirmed a "sell" rating and set a $150.00 price target on shares of Fiserv in a research report on Thursday, April 17th. Tigress Financial raised their price target on shares of Fiserv from $244.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, UBS Group cut their price objective on shares of Fiserv from $255.00 to $225.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $220.27.

Fiserv Trading Down 0.4%

Shares of FI stock traded down $0.71 on Thursday, hitting $167.36. The company had a trading volume of 854,215 shares, compared to its average volume of 3,247,275. Fiserv, Inc. has a twelve month low of $146.25 and a twelve month high of $238.59. The stock's 50-day moving average is $182.77 and its two-hundred day moving average is $204.46. The firm has a market cap of $92.79 billion, a P/E ratio of 31.05, a P/E/G ratio of 1.52 and a beta of 0.90. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.06. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same quarter in the prior year, the company earned $1.88 earnings per share. The company's quarterly revenue was up 5.1% on a year-over-year basis. On average, equities research analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its Board of Directors has authorized a stock buyback program on Thursday, February 20th that permits the company to repurchase 60,000,000 outstanding shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of the firm's stock in a transaction 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 completion of the sale, the executive vice president now directly owns 25,385 shares of the company's stock, valued at $4,061,600. This trade represents a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total value of $403,628.16. Following 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 position. The disclosure for this sale can be found here. 0.74% of the stock is owned by corporate insiders.

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.