Fiserv, Inc. (NYSE:FI) Shares Purchased by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in Fiserv, Inc. by 16.8% during the first quarter, owning approximately 0.11% of the company, valued at $130.16 million.
• Insider transactions included Adam L. Rosman selling 2,512 shares and Andrew Gelb selling 5,652 shares, resulting in notable decreases in their respective ownership stakes.
• Fiserv reported $2.47 earnings per share for its last quarter, surpassing analyst expectations and reflecting an 8% year-over-year revenue increase.

LPL Financial LLC lifted its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 16.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 589,418 shares of the business services provider's stock after purchasing an additional 84,734 shares during the period. LPL Financial LLC owned approximately 0.11% of Fiserv worth $130,161,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vega Investment Solutions acquired a new stake in shares of Fiserv in the fourth quarter valued at about $25,000. Park Square Financial Group LLC acquired a new position in Fiserv during the fourth quarter worth about $28,000. Abound Financial LLC acquired a new position in Fiserv during the first quarter worth about $38,000. Quarry LP raised its position in Fiserv by 51.9% during the fourth quarter. Quarry LP now owns 205 shares of the business services provider's stock worth $42,000 after acquiring an additional 70 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC acquired a new position in Fiserv during the fourth quarter worth about $54,000. Institutional investors and hedge funds own 90.98% of the company's stock.

Insider Activity at Fiserv

In other Fiserv news, insider Adam L. Rosman sold 2,512 shares of the business's stock in a transaction that occurred 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 sale, the insider directly owned 53,385 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrew Gelb sold 5,652 shares of the business'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 transaction of $904,320.00. Following the sale, the executive vice president owned 25,385 shares of the company's stock, valued at approximately $4,061,600. This represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.74% of the stock is owned by insiders.

Fiserv Price Performance

Fiserv stock opened at $140.00 on Tuesday. Fiserv, Inc. has a 1 year low of $128.22 and a 1 year high of $238.59. The firm has a 50 day moving average price of $164.44 and a 200 day moving average price of $194.38. The company has a market cap of $77.62 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 0.92 and a beta of 0.91. 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 released its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.04. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.20 billion. During the same period in the previous year, the firm earned $2.13 earnings per share. Fiserv's revenue for the quarter was up 8.0% on a year-over-year basis. Sell-side analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. KeyCorp cut their target price on shares of Fiserv from $250.00 to $200.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. JPMorgan Chase & Co. cut their target price on shares of Fiserv from $210.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. Morgan Stanley cut their target price on shares of Fiserv from $268.00 to $266.00 and set an "overweight" rating for the company in a research report on Monday, July 21st. Susquehanna cut their target price on shares of Fiserv from $240.00 to $220.00 and set a "positive" rating for the company in a research report on Thursday, July 24th. Finally, Piper Sandler set a $218.00 target price on shares of Fiserv in a research report on Friday, April 25th. One 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $208.42.

About Fiserv

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.

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