National Bank of Canada FI Has $97.55 Million Stake in Fiserv, Inc. (NYSE:FI)

Key Points

• National Bank of Canada FI reduced its stake in Fiserv, Inc. by 17.4%, owning 441,734 shares valued at approximately $97.5 million after selling over 93,000 shares in the first quarter.
• Insider trading activity observed recent sales by Fiserv executives, with EVP Andrew Gelb and Adam L. Rosman selling 5,652 and 2,512 shares respectively, indicating a decrease in their ownership positions.
• Analysts have set varied price targets for Fiserv, with Barclays giving an "overweight" rating and a price target of $175, while Jefferies lowered theirs from $180 to $165, reflecting mixed sentiments about the stock's performance.

National Bank of Canada FI lowered its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 17.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 441,734 shares of the business services provider's stock after selling 93,158 shares during the quarter. National Bank of Canada FI owned 0.08% of Fiserv worth $97,547,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in FI. Brighton Jones LLC grew its stake in Fiserv by 91.9% in the 4th quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider's stock valued at $872,000 after acquiring an additional 2,033 shares during the last quarter. Scotia Capital Inc. grew its stake in Fiserv by 24.6% in the 4th quarter. Scotia Capital Inc. now owns 16,283 shares of the business services provider's stock valued at $3,345,000 after acquiring an additional 3,215 shares during the last quarter. First Foundation Advisors acquired a new stake in Fiserv in the 4th quarter valued at about $211,000. Heritage Trust Co acquired a new stake in Fiserv in the 4th quarter valued at about $8,612,000. Finally, Act Two Investors LLC grew its stake in Fiserv by 813.0% in the 4th quarter. Act Two Investors LLC now owns 81,199 shares of the business services provider's stock valued at $16,680,000 after acquiring an additional 72,305 shares during the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Fiserv Stock Down 0.7%

Shares of NYSE:FI traded down $0.93 during midday trading on Monday, reaching $132.31. The company had a trading volume of 3,477,104 shares, compared to its average volume of 6,891,490. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.09. The stock's fifty day moving average price is $159.99 and its 200-day moving average price is $189.97. The stock has a market capitalization of $71.92 billion, a P/E ratio of 22.09, a PEG ratio of 0.87 and a beta of 0.91. Fiserv, Inc. has a one year low of $128.22 and a one year high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last released its earnings results on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share for the quarter, beating 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 firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.20 billion. During the same quarter in the previous year, the firm earned $2.13 earnings per share. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. Equities research analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FI. Citigroup lowered their price objective on shares of Fiserv from $267.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Mizuho lowered their price objective on shares of Fiserv from $194.00 to $165.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 29th. Redburn Atlantic reaffirmed a "sell" rating and set a $150.00 price target on shares of Fiserv in a research note on Thursday, April 17th. JPMorgan Chase & Co. decreased their price target on shares of Fiserv from $210.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. Finally, Piper Sandler set a $218.00 price target on shares of Fiserv in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $207.08.

Insider Buying and Selling at Fiserv

In related news, EVP Andrew Gelb sold 5,652 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were 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 owned 25,385 shares of the company's stock, valued at $4,061,600. This represents a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Adam L. Rosman sold 2,512 shares of the company's stock in a transaction dated 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 directly owned 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. Insiders own 0.75% 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.