GQG Partners LLC Purchases Shares of 1,203,502 Fiserv, Inc. (NYSE:FI)

Key Points

• GQG Partners LLC has acquired a new stake in Fiserv, Inc. by purchasing 1,203,502 shares valued at approximately $265.77 million.
• Multiple institutional investors, including Kestra Private Wealth Services LLC and American National Bank & Trust, have also adjusted their positions in Fiserv shares, indicating significant interest in the company.
• According to analysts, Fiserv holds a consensus rating of "Moderate Buy" with an average target price of $207.08, reflecting positive sentiment despite some recent price revisions.

GQG Partners LLC purchased a new stake in Fiserv, Inc. (NYSE:FI - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,203,502 shares of the business services provider's stock, valued at approximately $265,769,000. GQG Partners LLC owned approximately 0.22% of Fiserv as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FI. Kestra Private Wealth Services LLC lifted its position in shares of 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 purchasing an additional 230 shares in the last quarter. American National Bank & Trust lifted its position in shares of Fiserv by 2.4% during the first 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 position in shares of Fiserv during the fourth quarter worth approximately $54,981,000. Meridian Wealth Advisors LLC lifted its position in shares of Fiserv by 4.1% during 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 in the last quarter. Finally, Beck Mack & Oliver LLC lifted its position in shares of Fiserv by 0.5% during the fourth quarter. Beck Mack & Oliver LLC now owns 513,402 shares of the business services provider's stock worth $105,463,000 after purchasing an additional 2,589 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Monness Crespi & Hardt upgraded shares of Fiserv from a "sell" rating to a "neutral" rating in a report on Monday, July 21st. Morgan Stanley cut their price objective on shares of Fiserv from $268.00 to $266.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. The Goldman Sachs Group cut their price objective on shares of Fiserv from $223.00 to $194.00 and set a "buy" rating on the stock in a report on Monday, May 19th. JPMorgan Chase & Co. lowered their target price on shares of Fiserv from $210.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Finally, Tigress Financial upped their target price on shares of Fiserv from $244.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. 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. According to MarketBeat.com, Fiserv has a consensus rating of "Moderate Buy" and an average target price of $207.08.

Fiserv Stock Performance

Shares of FI opened at $132.20 on Wednesday. Fiserv, Inc. has a 12 month low of $128.22 and a 12 month high of $238.59. The firm has a fifty day simple moving average of $158.80 and a 200 day simple moving average of $189.03. The stock has a market capitalization of $71.86 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 0.86 and a beta of 0.91. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09.

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, topping 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 during the quarter, compared to analysts' expectations of $5.20 billion. During the same quarter in the prior year, the company posted $2.13 earnings per share. The firm's revenue was up 8.0% on a year-over-year basis. Research analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other Fiserv news, insider Adam L. Rosman sold 2,512 shares of the stock in a transaction on 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 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 legal filing with the SEC, which is available through this link. Also, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction 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 owned 25,385 shares of the company's stock, valued at approximately $4,061,600. This represents a 18.21% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.75% 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.

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