iA Global Asset Management Inc. Acquires 5,322 Shares of Fiserv, Inc. (NYSE:FI)

Key Points

• iA Global Asset Management Inc. increased its stake in Fiserv, Inc. by 7.5%, now owning 76,239 shares valued at approximately $16.8 million.
• Wall Street analysts have varied opinions on Fiserv, with a consensus rating of "Moderate Buy" and a target price around $207.08.
• Fiserv reported $2.47 EPS for the last quarter, exceeding estimates and showing an 8% year-over-year revenue growth, maintaining a net margin of 16%.

iA Global Asset Management Inc. boosted its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 7.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 76,239 shares of the business services provider's stock after buying an additional 5,322 shares during the quarter. iA Global Asset Management Inc.'s holdings in Fiserv were worth $16,836,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Fiserv by 9.1% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 2,244 shares of the business services provider's stock worth $496,000 after buying an additional 187 shares during the last quarter. New Age Alpha Advisors LLC lifted its holdings in Fiserv by 78.4% during the first quarter. New Age Alpha Advisors LLC now owns 31,178 shares of the business services provider's stock worth $6,885,000 after acquiring an additional 13,706 shares during the period. Thoroughbred Financial Services LLC boosted its position in Fiserv by 1.3% in the first quarter. Thoroughbred Financial Services LLC now owns 13,740 shares of the business services provider's stock worth $3,034,000 after purchasing an additional 170 shares during the last quarter. ROI Financial Advisors LLC bought a new position in Fiserv in the 1st quarter valued at $215,000. Finally, Kickstand Ventures LLC. bought a new position in Fiserv in the 1st quarter valued at $248,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total transaction of $904,320.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction, the insider owned 53,385 shares of the company's stock, valued at $8,577,901.80. This trade represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.74% of the company's stock.

Fiserv Price Performance

Shares of FI stock traded down $1.50 on Thursday, reaching $132.54. The company's stock had a trading volume of 6,306,037 shares, compared to its average volume of 6,911,371. The company has a market capitalization of $72.05 billion, a P/E ratio of 22.13, a PEG ratio of 0.87 and a beta of 0.91. Fiserv, Inc. has a 12-month low of $128.22 and a 12-month high of $238.59. The stock's 50 day simple moving average is $160.58 and its 200-day simple moving average is $190.74. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.09.

Fiserv (NYSE:FI - Get Free Report) last released its quarterly 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 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 analysts' expectations of $5.20 billion. During the same quarter last year, the firm posted $2.13 EPS. The company'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 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on FI shares. Jefferies Financial Group lowered their target price on Fiserv from $180.00 to $165.00 and set a "hold" rating on the stock in a research note on Tuesday, May 27th. Stephens decreased their price objective on shares of Fiserv from $240.00 to $180.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Piper Sandler set a $218.00 price objective on shares of Fiserv in a research report on Friday, April 25th. The Goldman Sachs Group reduced their target price on shares of Fiserv from $223.00 to $194.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Finally, Tigress Financial raised their price target on shares of Fiserv from $244.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $207.08.

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.