Tredje AP fonden Reduces Stock Position in Fiserv, Inc. (NYSE:FI)

Key Points

• Tredje AP fonden reduced its stake in Fiserv, Inc. by 10.9%, owning 346,680 shares worth approximately $76.56 million after selling 42,515 shares in Q1.
• Fiserv recently reported quarterly earnings of $2.47 per share, exceeding estimates by $0.04, with a revenue of $5.20 billion, indicating an 8.0% growth compared to the previous year.
• The average target price for Fiserv’s stock is $207.08, with a consensus rating of "Moderate Buy" among analysts, highlighting strong investor interest despite recent price adjustments.

Tredje AP fonden trimmed its position in Fiserv, Inc. (NYSE:FI - Free Report) by 10.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 346,680 shares of the business services provider's stock after selling 42,515 shares during the quarter. Tredje AP fonden owned about 0.06% of Fiserv worth $76,557,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in Fiserv by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 11,891,207 shares of the business services provider's stock valued at $2,435,280,000 after purchasing an additional 218,833 shares during the period. FMR LLC lifted its position in Fiserv by 22.5% during the fourth quarter. FMR LLC now owns 11,568,895 shares of the business services provider's stock worth $2,376,482,000 after buying an additional 2,126,419 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Fiserv by 3.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 8,284,433 shares of the business services provider's stock worth $1,829,451,000 after buying an additional 253,544 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Fiserv by 5.2% during the fourth quarter. Nuveen Asset Management LLC now owns 6,936,554 shares of the business services provider's stock worth $1,424,907,000 after buying an additional 340,938 shares in the last quarter. Finally, Northern Trust Corp raised its position in Fiserv by 19.5% in the fourth quarter. Northern Trust Corp now owns 6,206,720 shares of the business services provider's stock valued at $1,274,984,000 after purchasing an additional 1,014,126 shares during the period. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Fiserv Stock Performance

Shares of Fiserv stock traded down $3.60 during trading on Friday, hitting $135.34. 5,449,415 shares of the stock were exchanged, compared to its average volume of 6,346,013. The stock has a market capitalization of $73.57 billion, a price-to-earnings ratio of 22.59, a price-to-earnings-growth ratio of 0.90 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. The company has a fifty day moving average price of $162.62 and a 200-day moving average price of $192.74. Fiserv, Inc. has a 1-year low of $128.22 and a 1-year high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last announced its 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. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.20 billion. During the same quarter in the prior year, the business posted $2.13 EPS. The business's revenue was up 8.0% compared to the same quarter last year. As a group, equities analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. KeyCorp reduced their target price on Fiserv from $250.00 to $200.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Barclays set a $175.00 target price on Fiserv and gave the company an "overweight" rating in a research report on Monday, July 28th. Piper Sandler set a $218.00 target price on Fiserv in a research report on Friday, April 25th. Stephens dropped their price objective on Fiserv from $240.00 to $180.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group dropped their price objective on Fiserv from $223.00 to $194.00 and set a "buy" rating for the company in a research note on Monday, May 19th. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $207.08.

Insider Buying and Selling at Fiserv

In other Fiserv news, insider Adam L. Rosman sold 2,512 shares of Fiserv 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 directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Andrew Gelb sold 5,652 shares of the business'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 sale, the executive vice president directly owned 25,385 shares of the company's stock, valued at approximately $4,061,600. The trade was 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 currently owned by company insiders.

Fiserv 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.