Fiserv, Inc. (NYSE:FI) Shares Bought by TD Asset Management Inc

Key Points

• TD Asset Management Inc raised its stake in Fiserv, Inc. by 56.9%, acquiring a total of 436,238 shares valued at approximately $96.3 million.
• Fiserv reported earnings of $2.47 EPS for the last quarter, exceeding analysts' expectations, with a revenue of $5.20 billion—an 8.0% increase year-over-year.
• The consensus rating for Fiserv shares is "Moderate Buy", with an average target price set at $210.54, despite some analysts lowering their price targets recently.

TD Asset Management Inc increased its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 56.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 436,238 shares of the business services provider's stock after purchasing an additional 158,270 shares during the period. TD Asset Management Inc owned approximately 0.08% of Fiserv worth $96,334,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FI. Kestra Private Wealth Services LLC increased its position in shares of Fiserv by 3.0% during the first quarter. Kestra Private Wealth Services LLC now owns 7,891 shares of the business services provider's stock worth $1,743,000 after buying an additional 230 shares during the period. American National Bank & Trust boosted its stake in Fiserv by 2.4% during the first quarter. American National Bank & Trust now owns 85,838 shares of the business services provider's stock worth $18,956,000 after acquiring an additional 1,983 shares in the last quarter. Evercore Wealth Management LLC bought a new position in Fiserv during the fourth quarter worth $54,981,000. Meridian Wealth Advisors LLC boosted its stake in Fiserv by 4.1% during the first quarter. Meridian Wealth Advisors LLC now owns 26,865 shares of the business services provider's stock worth $5,933,000 after acquiring an additional 1,046 shares in the last quarter. Finally, Beck Mack & Oliver LLC lifted its stake in shares of Fiserv by 0.5% in the fourth quarter. Beck Mack & Oliver LLC now owns 513,402 shares of the business services provider's stock valued at $105,463,000 after buying an additional 2,589 shares in the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fiserv

In other news, insider Adam L. Rosman sold 2,512 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total value of $403,628.16. Following the completion of the sale, the insider owned 53,385 shares in the company, valued at approximately $8,577,901.80. This trade represents a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew Gelb sold 5,652 shares of the firm'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 transaction, the executive vice president owned 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 disclosure for this sale can be found here. Insiders own 0.75% of the company's stock.

Fiserv Trading Down 1.4%

Shares of FI stock traded down $2.03 during mid-day trading on Monday, reaching $140.00. The stock had a trading volume of 7,905,433 shares, compared to its average volume of 4,434,574. The stock's 50-day moving average price is $165.03 and its two-hundred day moving average price is $194.80. The firm has a market capitalization of $77.62 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of 0.92 and a beta of 0.91. 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 released its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share for the quarter, topping analysts' consensus estimates of $2.43 by $0.04. Fiserv had a return on equity of 19.69% and a net margin of 16.00%. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.20 billion. During the same quarter in the prior year, the company posted $2.13 earnings per share. The business's quarterly revenue was up 8.0% compared to the same quarter last year. Equities analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on FI shares. Piper Sandler set a $218.00 price objective on shares of Fiserv in a research report on Friday, April 25th. Citigroup lowered their price objective on shares of Fiserv from $267.00 to $240.00 and set a "buy" rating for the company in a report on Friday, April 25th. Mizuho set a $200.00 price objective on shares of Fiserv in a report on Thursday, May 15th. Robert W. Baird decreased their target price on shares of Fiserv from $225.00 to $185.00 and set an "outperform" rating for the company in a report on Thursday. Finally, Tigress Financial raised their price target on shares of Fiserv from $244.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $208.42.

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.