Fiserv, Inc. (NYSE:FI) Shares Purchased by LGT Group Foundation

Key Points

• LGT Group Foundation increased its stake in Fiserv, Inc. by 63.1%, now owning 5,836 shares worth approximately $1.29 million as of its latest SEC filing.
• Fiserv reported a net profit margin of 16.00% and earnings of $2.47 per share for the quarter, exceeding analysts' expectations of $2.43.
• Analysts have adjusted their target prices for Fiserv, with UBS Group reducing its target from $225 to $170, while maintaining a "buy" rating on the stock.

LGT Group Foundation grew its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 63.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,836 shares of the business services provider's stock after acquiring an additional 2,257 shares during the period. LGT Group Foundation's holdings in Fiserv were worth $1,289,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Fiserv by 91.9% during the 4th quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider's stock worth $872,000 after acquiring an additional 2,033 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in Fiserv by 4.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 87,727 shares of the business services provider's stock worth $18,013,000 after purchasing an additional 3,787 shares during the last quarter. Advisors Capital Management LLC grew its position in Fiserv by 2.8% during the 4th quarter. Advisors Capital Management LLC now owns 4,616 shares of the business services provider's stock worth $948,000 after purchasing an additional 126 shares during the last quarter. Savvy Advisors Inc. grew its position in Fiserv by 10.0% during the 4th quarter. Savvy Advisors Inc. now owns 1,457 shares of the business services provider's stock worth $299,000 after purchasing an additional 133 shares during the last quarter. Finally, SageView Advisory Group LLC grew its position in Fiserv by 10.8% during the 4th quarter. SageView Advisory Group LLC now owns 1,536 shares of the business services provider's stock worth $316,000 after purchasing an additional 150 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors.

Insider Activity at Fiserv

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of the business's stock in a transaction that occurred 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 in the company, valued at $4,061,600. The trade was a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the business's stock in a transaction that occurred 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 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 disclosure for this sale can be found here. 0.74% of the stock is owned by insiders.

Fiserv Trading Up 0.2%

Shares of FI traded up $0.22 on Thursday, hitting $134.51. 4,158,267 shares of the stock traded hands, compared to its average volume of 6,827,426. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $73.12 billion, a P/E ratio of 22.46, a P/E/G ratio of 0.87 and a beta of 0.91. The stock's 50 day moving average is $157.58 and its two-hundred day moving average is $188.12. 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 quarterly earnings data on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share (EPS) 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 business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.20 billion. During the same quarter in the prior year, the firm posted $2.13 earnings per share. The company's quarterly revenue was up 8.0% compared to the same quarter last year. As a group, sell-side analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FI has been the subject of several research reports. Susquehanna decreased their price objective on shares of Fiserv from $240.00 to $220.00 and set a "positive" rating for the company in a research note on Thursday, July 24th. Royal Bank Of Canada set a $237.00 price objective on shares of Fiserv in a research note on Friday, April 25th. Jefferies Financial Group decreased their price objective on shares of Fiserv from $180.00 to $165.00 and set a "hold" rating for the company in a research note on Tuesday, May 27th. KeyCorp decreased their price objective on shares of Fiserv from $250.00 to $200.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Finally, Redburn Atlantic reaffirmed a "sell" rating and set a $150.00 target price on shares of Fiserv in a report on Thursday, April 17th. 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $207.08.

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.