Goldman Sachs Group Inc. Buys 190,527 Shares of Fiserv, Inc. (NYSE:FI)

Key Points

• Goldman Sachs Group Inc. increased its stake in Fiserv, Inc. by 4.2%, acquiring an additional 190,527 shares for a total of approximately $1.05 billion.
• Institutional investors control 90.98% of Fiserv's stock, indicating strong institutional interest in the company.
• Fiserv reported earnings of $2.47 per share for the last quarter, exceeding analyst expectations, with an 8% year-over-year revenue growth to $5.20 billion.

Goldman Sachs Group Inc. raised its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 4.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,778,795 shares of the business services provider's stock after acquiring an additional 190,527 shares during the period. Goldman Sachs Group Inc. owned approximately 0.86% of Fiserv worth $1,055,301,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kestra Private Wealth Services LLC grew its position in Fiserv by 3.0% during the first quarter. Kestra Private Wealth Services LLC now owns 7,891 shares of the business services provider's stock worth $1,743,000 after buying an additional 230 shares in the last quarter. American National Bank & Trust grew its holdings in shares of Fiserv by 2.4% during the 1st quarter. American National Bank & Trust now owns 85,838 shares of the business services provider's stock worth $18,956,000 after purchasing an additional 1,983 shares in the last quarter. Evercore Wealth Management LLC acquired a new stake in shares of Fiserv during the 4th quarter worth $54,981,000. Meridian Wealth Advisors LLC increased its position in shares of Fiserv by 4.1% in the first quarter. Meridian Wealth Advisors LLC now owns 26,865 shares of the business services provider's stock worth $5,933,000 after purchasing an additional 1,046 shares during the period. Finally, Beck Mack & Oliver LLC raised its stake in Fiserv by 0.5% in the fourth quarter. Beck Mack & Oliver LLC now owns 513,402 shares of the business services provider's stock valued at $105,463,000 after purchasing an additional 2,589 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company's stock.

Insider Buying and Selling at Fiserv

In related news, EVP Andrew Gelb sold 5,652 shares of the business'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 transaction, the executive vice president 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 at this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total value 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. The trade was a 4.49% 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.

Fiserv Trading Up 0.3%

Shares of NYSE FI traded up $0.40 during trading on Friday, reaching $133.10. The company had a trading volume of 3,927,627 shares, compared to its average volume of 7,009,811. The stock has a market cap of $72.35 billion, a P/E ratio of 22.22, a PEG ratio of 0.86 and a beta of 0.91. The company's fifty day moving average price is $160.58 and its 200-day moving average price 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, Inc. has a 12 month low of $128.22 and a 12 month high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The business services provider reported $2.47 EPS 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 business had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $5.20 billion. During the same period in the prior year, the business posted $2.13 earnings per share. The firm's revenue was up 8.0% on a year-over-year basis. As a group, research analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on FI shares. Redburn Atlantic reissued a "sell" rating and issued a $150.00 target price on shares of Fiserv in a report on Thursday, April 17th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Fiserv in a research note on Thursday, July 17th. They issued a "buy" rating and a $200.00 price objective on the stock. Susquehanna cut their target price on Fiserv from $240.00 to $220.00 and set a "positive" rating for the company in a research note on Thursday, July 24th. Morgan Stanley decreased their price target on Fiserv from $268.00 to $266.00 and set an "overweight" rating on the stock in a research note on Monday, July 21st. Finally, Monness Crespi & Hardt upgraded Fiserv from a "sell" rating to a "neutral" rating in a research report on Monday, July 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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.