Handelsbanken Fonder AB Increases Stock Holdings in Fiserv, Inc. (NYSE:FI)

Handelsbanken Fonder AB increased its holdings in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 4.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 241,439 shares of the business services provider's stock after purchasing an additional 10,427 shares during the period. Handelsbanken Fonder AB's holdings in Fiserv were worth $53,317,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank bought a new stake in Fiserv during the 4th quarter valued at $1,406,452,000. GAMMA Investing LLC lifted its stake in shares of Fiserv by 21,681.0% during the 1st quarter. GAMMA Investing LLC now owns 3,821,905 shares of the business services provider's stock worth $843,991,000 after purchasing an additional 3,804,358 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Fiserv during the fourth quarter valued at about $614,982,000. Kovitz Investment Group Partners LLC boosted its position in Fiserv by 343.7% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider's stock valued at $576,527,000 after purchasing an additional 2,174,025 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in Fiserv by 65.6% in the fourth quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider's stock valued at $1,116,919,000 after purchasing an additional 2,153,554 shares during the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Citigroup decreased their price target on shares of Fiserv from $267.00 to $240.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Monness Crespi & Hardt cut shares of Fiserv from a "neutral" rating to a "sell" rating and set a $145.00 target price for the company. in a research report on Wednesday, April 9th. Tigress Financial raised 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. JPMorgan Chase & Co. reduced their price target on Fiserv from $211.00 to $210.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Finally, The Goldman Sachs Group decreased their price objective on Fiserv from $223.00 to $194.00 and set a "buy" rating for the company in a report on Monday, May 19th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $220.27.

Insider Transactions at Fiserv

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total value of $904,320.00. Following the completion of the transaction, the executive vice president now owns 25,385 shares in the company, valued at approximately $4,061,600. This represents a 18.21% decrease in their ownership of the stock. The sale 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 stock in a transaction dated 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 now directly owns 53,385 shares in the company, 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. Company insiders own 0.74% of the company's stock.

Fiserv Stock Performance

Shares of FI stock traded down $5.23 during trading hours on Friday, hitting $162.79. The company's stock had a trading volume of 3,499,748 shares, compared to its average volume of 3,262,308. The stock has a market cap of $90.26 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. Fiserv, Inc. has a 12-month low of $146.46 and a 12-month high of $238.59. The company has a 50 day moving average of $181.52 and a 200 day moving average of $203.68. 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 (NYSE:FI - Get Free Report) last posted its quarterly 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 for the quarter, compared to analyst estimates of $4.86 billion. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The firm's revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.88 earnings per share. On average, sell-side analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its Board of Directors has authorized a stock buyback plan on Thursday, February 20th that allows the company to repurchase 60,000,000 shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Fiserv Company 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.