GAMMA Investing LLC Buys 3,804,358 Shares of Fiserv, Inc. (NYSE:FI)

GAMMA Investing LLC lifted its stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 21,681.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,821,905 shares of the business services provider's stock after buying an additional 3,804,358 shares during the period. GAMMA Investing LLC owned about 0.68% of Fiserv worth $843,991,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Fiserv in the fourth quarter worth $1,406,452,000. Raymond James Financial Inc. bought a new stake in shares of Fiserv in the fourth quarter worth $614,982,000. Kovitz Investment Group Partners LLC grew its stake in shares of Fiserv by 343.7% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider's stock worth $576,527,000 after purchasing an additional 2,174,025 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Fiserv by 65.6% in the fourth quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider's stock worth $1,116,919,000 after purchasing an additional 2,153,554 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Fiserv by 22.5% in the fourth quarter. FMR LLC now owns 11,568,895 shares of the business services provider's stock worth $2,376,482,000 after purchasing an additional 2,126,419 shares during the last quarter. 90.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. UBS Group reduced their price objective on shares of Fiserv from $255.00 to $225.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Wells Fargo & Company boosted their target price on shares of Fiserv from $240.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Monness Crespi & Hardt lowered shares of Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 target price on the stock. in a report on Wednesday, April 9th. Mizuho set a $200.00 target price on shares of Fiserv in a report on Thursday, May 15th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Fiserv from $240.00 to $200.00 and set an "outperform" rating on the stock in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Fiserv presently has a consensus rating of "Moderate Buy" and a consensus price target of $220.27.

Fiserv Stock Down 0.8%

Shares of FI traded down $1.24 on Monday, reaching $161.55. The company's stock had a trading volume of 3,713,162 shares, compared to its average volume of 3,178,452. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. Fiserv, Inc. has a twelve month low of $146.25 and a twelve month high of $238.59. The stock has a market capitalization of $89.57 billion, a PE ratio of 29.97, a PEG ratio of 1.52 and a beta of 0.97. The firm has a fifty day moving average of $191.13 and a 200-day moving average of $207.13.

Fiserv (NYSE:FI - Get Free Report) last announced its earnings results on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, beating the consensus estimate of $2.08 by $0.06. The company had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.86 billion. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.88 earnings per share. Equities analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its Board of Directors has approved a stock buyback plan on Thursday, February 20th that permits the company to repurchase 60,000,000 shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Fiserv

In other Fiserv news, insider Adam L. Rosman sold 2,512 shares of the stock in a transaction dated 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 transaction, the insider now owns 53,385 shares in the company, valued at $8,577,901.80. This trade represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrew Gelb sold 5,652 shares of Fiserv 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 transaction, the executive vice president now owns 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 disclosure for this sale can be found here. Company 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.