Swiss National Bank Sells 21,800 Shares of Fiserv, Inc. (NYSE:FI)

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 lowered its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 1.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,604,586 shares of the business services provider's stock after selling 21,800 shares during the period. Swiss National Bank owned 0.29% of Fiserv worth $354,341,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Fiserv by 1.1% during the first quarter. Vanguard Group Inc. now owns 50,079,534 shares of the business services provider's stock worth $11,059,063,000 after purchasing an additional 535,407 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Fiserv by 3.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 8,284,433 shares of the business services provider's stock valued at $1,829,451,000 after buying an additional 253,544 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in Fiserv by 5.2% in the fourth quarter. Nuveen Asset Management LLC now owns 6,936,554 shares of the business services provider's stock valued at $1,424,907,000 after buying an additional 340,938 shares in the last quarter. Northern Trust Corp increased its holdings 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 buying an additional 1,014,126 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Fiserv by 4.2% in the first quarter. Goldman Sachs Group Inc. now owns 4,778,795 shares of the business services provider's stock valued at $1,055,301,000 after buying an additional 190,527 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company's stock.

Fiserv Stock Up 0.0%

NYSE FI traded up $0.03 on Tuesday, hitting $132.25. 1,112,473 shares of the stock were exchanged, compared to its average volume of 4,467,887. 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, Inc. has a fifty-two week low of $128.22 and a fifty-two week high of $238.59. The company has a market cap of $71.89 billion, a PE ratio of 22.09, a PEG ratio of 0.87 and a beta of 0.91. The company has a 50-day moving average price of $159.40 and a 200-day moving average price of $189.43.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $2.47 EPS for the quarter, topping analysts' consensus estimates of $2.43 by $0.04. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.20 billion. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. Fiserv's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.13 EPS. Sell-side analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Morgan Stanley cut their price objective on shares of Fiserv from $268.00 to $266.00 and set an "overweight" rating for the company in a report on Monday, July 21st. Stephens cut 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. Monness Crespi & Hardt upgraded shares of Fiserv from a "sell" rating to a "neutral" rating in a research report on Monday, July 21st. Jefferies Financial Group dropped their target price on shares of Fiserv from $180.00 to $165.00 and set a "hold" rating on the stock in a research report on Tuesday, May 27th. Finally, KeyCorp dropped their target price on shares of Fiserv from $250.00 to $200.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $207.08.

Insider Activity

In related news, EVP Andrew Gelb sold 5,652 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total value of $904,320.00. Following the sale, the executive vice president directly 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 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 shares were 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 in the company, valued at $8,577,901.80. This represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.75% of the company's stock.

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.