Horan Capital Advisors LLC. Reduces Stake in Fiserv, Inc. (NYSE:FI)

Key Points

• Horan Capital Advisors LLC reduced its holdings in Fiserv, Inc. by 16.5%, selling 4,551 shares, leaving it with 23,075 shares valued at approximately $5.1 million.
• Fiserv's average rating is currently a "Moderate Buy", with several analysts adjusting their price targets, the highest being $218.00 by Piper Sandler.
• In a recent quarterly earnings report, Fiserv posted an earnings per share of $2.47, slightly exceeding analyst expectations, with revenues reaching $5.20 billion.

Horan Capital Advisors LLC. cut its position in Fiserv, Inc. (NYSE:FI - Free Report) by 16.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,075 shares of the business services provider's stock after selling 4,551 shares during the quarter. Fiserv comprises about 1.7% of Horan Capital Advisors LLC.'s holdings, making the stock its 16th largest position. Horan Capital Advisors LLC.'s holdings in Fiserv were worth $5,096,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in FI. T. Rowe Price Investment Management Inc. boosted its position in shares of Fiserv by 1.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,862 shares of the business services provider's stock worth $794,000 after purchasing an additional 44 shares in the last quarter. Rappaport Reiches Capital Management LLC boosted its position in shares of Fiserv by 3.9% in the 1st quarter. Rappaport Reiches Capital Management LLC now owns 1,275 shares of the business services provider's stock worth $282,000 after purchasing an additional 48 shares in the last quarter. Adero Partners LLC boosted its position in shares of Fiserv by 2.3% in the 1st quarter. Adero Partners LLC now owns 2,490 shares of the business services provider's stock worth $550,000 after purchasing an additional 55 shares in the last quarter. Oakworth Capital Inc. boosted its position in shares of Fiserv by 5.6% in the 1st quarter. Oakworth Capital Inc. now owns 1,065 shares of the business services provider's stock worth $235,000 after purchasing an additional 56 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its position in shares of Fiserv by 6.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 935 shares of the business services provider's stock worth $206,000 after purchasing an additional 56 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FI has been the topic of a number of analyst reports. Royal Bank Of Canada set a $237.00 price target on Fiserv in a research report on Friday, April 25th. Truist Financial upped their price objective on Fiserv from $181.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. lowered their price objective on Fiserv from $210.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Morgan Stanley lowered their price objective on Fiserv from $268.00 to $266.00 and set an "overweight" rating on the stock in a research report on Monday, July 21st. Finally, Keefe, Bruyette & Woods lowered their price objective on Fiserv from $240.00 to $200.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $207.08.

Fiserv Price Performance

FI stock traded down $0.82 during trading on Thursday, reaching $140.03. The company's stock had a trading volume of 2,762,297 shares, compared to its average volume of 4,443,064. Fiserv, Inc. has a 1 year low of $128.22 and a 1 year 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 company has a market capitalization of $76.12 billion, a P/E ratio of 23.39, a price-to-earnings-growth ratio of 0.93 and a beta of 0.91. The company's fifty day moving average is $163.54 and its 200-day moving average is $193.65.

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, topping analysts' consensus estimates of $2.43 by $0.04. The business had revenue of $5.20 billion during 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 business posted $2.13 EPS. On average, research analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Insider Transactions at Fiserv

In other 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 completion of the transaction, the executive vice president owned 25,385 shares in the company, valued at $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 is available at the SEC website. Also, insider Adam L. Rosman sold 2,512 shares of the firm's 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 owned 53,385 shares of the company's stock, 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.

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.