Fiserv, Inc. (NYSE:FI) Shares Sold by Swiss National Bank

Key Points

• Swiss National Bank has reduced its stake in Fiserv, Inc. by 1.3% during the first quarter, holding 1,604,586 shares valued at approximately $354 million as of the latest disclosure.
• Several analysts have downgraded price targets for Fiserv, with UBS Group lowering theirs from $225 to $170, while the overall consensus target is now set at $207.08.
• Fiserv reported a quarterly earnings per share of $2.47, exceeding estimates by $0.04, with revenues of $5.20 billion, representing an 8.0% increase year-over-year.

Swiss National Bank cut its holdings in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 1.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,604,586 shares of the business services provider's stock after selling 21,800 shares during the period. Swiss National Bank owned about 0.29% of Fiserv worth $354,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in FI. T. Rowe Price Investment Management Inc. grew its position in Fiserv by 1.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,862 shares of the business services provider's stock valued at $794,000 after buying an additional 44 shares during the period. Rappaport Reiches Capital Management LLC boosted its stake in shares of Fiserv by 3.9% during the 1st quarter. Rappaport Reiches Capital Management LLC now owns 1,275 shares of the business services provider's stock worth $282,000 after acquiring an additional 48 shares in the last quarter. Adero Partners LLC grew its position in shares of Fiserv by 2.3% during the 1st quarter. Adero Partners LLC now owns 2,490 shares of the business services provider's stock valued at $550,000 after acquiring an additional 55 shares during the period. Oakworth Capital Inc. increased its stake 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 valued at $235,000 after purchasing an additional 56 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its holdings in 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 during the period. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Trading Up 0.3%

Shares of FI traded up $0.40 during mid-day trading on Friday, reaching $133.10. The stock had a trading volume of 3,927,627 shares, compared to its average volume of 7,009,811. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.09. Fiserv, Inc. has a 52-week low of $128.22 and a 52-week high of $238.59. The business's fifty day moving average is $159.99 and its 200 day moving average is $190.08. The firm has a market cap of $72.35 billion, a price-to-earnings ratio of 22.22, a P/E/G ratio of 0.87 and a beta of 0.91.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $5.20 billion. During the same quarter in the prior year, the firm posted $2.13 earnings per share. Fiserv's quarterly revenue was up 8.0% on a year-over-year basis. On average, sell-side analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on FI. JPMorgan Chase & Co. dropped their price objective on Fiserv from $210.00 to $190.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Tigress Financial increased their target price on Fiserv from $244.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Truist Financial increased their target price on Fiserv from $181.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. KeyCorp decreased 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. Finally, Redburn Atlantic reiterated a "sell" rating and set a $150.00 target price on shares of Fiserv in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $207.08.

Insider Transactions at Fiserv

In related news, insider Adam L. Rosman sold 2,512 shares of the company'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 completion of the sale, the insider owned 53,385 shares of the company's stock, 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 document filed with the SEC, which can be accessed through this link. Also, EVP Andrew Gelb sold 5,652 shares of the business's stock in a transaction dated 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 owned 25,385 shares in the company, valued at approximately $4,061,600. This trade represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.