Trillium Asset Management LLC Acquires 10,887 Shares of Fiserv, Inc. (NYSE:FI)

Key Points

• Trillium Asset Management LLC increased its holdings in Fiserv, Inc. by 867.5% during the first quarter, totaling 12,142 shares valued at approximately $2.68 million.
• Multiple institutional investors, including Kestra Private Wealth Services LLC and American National Bank & Trust, have also increased their stakes, indicating strong institutional interest with 90.98% of the stock owned by institutional investors and hedge funds.
• Fiserv reported a 8.0% increase in revenue year-over-year for the most recent quarter, with earnings per share exceeding consensus estimates, signaling strong financial performance.

Trillium Asset Management LLC lifted its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 867.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,142 shares of the business services provider's stock after buying an additional 10,887 shares during the quarter. Trillium Asset Management LLC's holdings in Fiserv were worth $2,681,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Kestra Private Wealth Services LLC increased its position in shares of Fiserv by 3.0% in 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 purchasing an additional 230 shares during the period. American National Bank & Trust increased its position in shares of Fiserv by 2.4% in the first quarter. American National Bank & Trust now owns 85,838 shares of the business services provider's stock worth $18,956,000 after purchasing an additional 1,983 shares during the period. Evercore Wealth Management LLC bought a new position in shares of Fiserv in the fourth quarter worth $54,981,000. Meridian Wealth Advisors LLC grew its position in Fiserv by 4.1% in the first quarter. Meridian Wealth Advisors LLC now owns 26,865 shares of the business services provider's stock valued at $5,933,000 after acquiring an additional 1,046 shares during the last quarter. Finally, Beck Mack & Oliver LLC grew its position in 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 acquiring an additional 2,589 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company's stock.

Wall Street Analysts Forecast Growth

FI has been the topic of a number of recent analyst reports. Piper Sandler set a $218.00 target price on Fiserv in a research report on Friday, April 25th. Truist Financial boosted their price target on Fiserv from $181.00 to $185.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Robert W. Baird reduced their price target on Fiserv from $225.00 to $185.00 and set an "outperform" rating on the stock in a report on Thursday, July 24th. Tigress Financial boosted their price target on Fiserv from $244.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Finally, The Goldman Sachs Group reduced their price target on Fiserv from $223.00 to $194.00 and set a "buy" rating on the stock in a report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Fiserv presently has a consensus rating of "Moderate Buy" and an average target price of $207.08.

Fiserv Trading Up 0.2%

FI traded up $0.22 during trading on Thursday, hitting $134.51. The company's stock had a trading volume of 4,158,267 shares, compared to its average volume of 6,827,426. Fiserv, Inc. has a twelve month low of $128.22 and a twelve month high of $238.59. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The stock's fifty day moving average price is $157.58 and its 200-day moving average price is $188.12. The firm has a market capitalization of $73.12 billion, a P/E ratio of 22.46, a PEG ratio of 0.87 and a beta of 0.91.

Fiserv (NYSE:FI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $5.20 billion. During the same period in the previous year, the firm earned $2.13 earnings per share. The company's revenue was up 8.0% compared to the same quarter last year. Analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current year.

Insider Activity at Fiserv

In related news, insider Adam L. Rosman sold 2,512 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was 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 in the company, valued at approximately $8,577,901.80. This represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Andrew Gelb sold 5,652 shares of the company'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 sale, 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 position. The disclosure for this sale can be found here. Insiders own 0.74% of the company's stock.

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.