IPG Investment Advisors LLC Buys New Stake in Fiserv, Inc. (NYSE:FI)

Key Points

• IPG Investment Advisors LLC acquired 6,451 shares of Fiserv, Inc. valued at approximately $1.425 million during the first quarter, indicating growing institutional interest in the company.
• Fiserv's stock has experienced a decline of 2.6% recently, with a current market cap of $73.57 billion and a reported EPS of $2.47 for the last quarter, which surpassed analysts' estimates.
• Research firms have set new price targets for Fiserv, with Barclays targeting $175.00 and UBS lowering from $225.00 to $170.00, reflecting mixed analyst sentiment towards the stock.

IPG Investment Advisors LLC bought a new stake in Fiserv, Inc. (NYSE:FI - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 6,451 shares of the business services provider's stock, valued at approximately $1,425,000.

Several other large investors have also modified their holdings of FI. FMR LLC grew its position in Fiserv by 22.5% during the fourth quarter. FMR LLC now owns 11,568,895 shares of the business services provider's stock worth $2,376,482,000 after buying an additional 2,126,419 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Fiserv by 3.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 8,284,433 shares of the business services provider's stock valued at $1,829,451,000 after buying an additional 253,544 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of Fiserv by 5.2% in the 4th quarter. Nuveen Asset Management LLC now owns 6,936,554 shares of the business services provider's stock worth $1,424,907,000 after buying an additional 340,938 shares in the last quarter. Northern Trust Corp boosted its position in shares of Fiserv by 19.5% in the 4th quarter. Northern Trust Corp now owns 6,206,720 shares of the business services provider's stock worth $1,274,984,000 after buying an additional 1,014,126 shares in the last quarter. Finally, Sanders Capital LLC grew its stake in Fiserv by 9.6% in the 4th quarter. Sanders Capital LLC now owns 4,662,197 shares of the business services provider's stock valued at $957,709,000 after acquiring an additional 406,460 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company's stock.

Fiserv Stock Down 0.0%

Shares of FI traded down $0.06 during trading on Wednesday, reaching $134.22. The company's stock had a trading volume of 5,699,606 shares, compared to its average volume of 6,792,579. The company has a market cap of $72.96 billion, a price-to-earnings ratio of 22.41, a P/E/G ratio of 0.87 and a beta of 0.91. 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 twelve month low of $128.22 and a twelve month high of $238.59. The company has a fifty day moving average of $161.64 and a two-hundred day moving average of $191.66.

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 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 firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.20 billion. During the same period in the previous year, the company earned $2.13 earnings per share. Fiserv's quarterly revenue was up 8.0% on a year-over-year basis. On average, sell-side analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on FI shares. Susquehanna lowered their price target on shares of Fiserv from $240.00 to $220.00 and set a "positive" rating on the stock in a research report on Thursday, July 24th. Piper Sandler set a $218.00 target price on shares of Fiserv in a research note on Friday, April 25th. Barclays set a $175.00 price target on shares of Fiserv and gave the stock an "overweight" rating in a report on Monday, July 28th. Monness Crespi & Hardt raised shares of Fiserv from a "sell" rating to a "neutral" rating in a research note on Monday, July 21st. Finally, JPMorgan Chase & Co. reduced their price target on Fiserv from $210.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, Fiserv currently has a consensus rating of "Moderate Buy" and a consensus price target of $207.08.

Insider Buying and Selling at Fiserv

In other Fiserv news, insider Adam L. Rosman sold 2,512 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total value of $403,628.16. Following the transaction, the insider owned 53,385 shares of the company's stock, 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 at this link. Also, EVP Andrew Gelb sold 5,652 shares of the company'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 value of $904,320.00. Following the transaction, the executive vice president directly owned 25,385 shares of the company's stock, valued at $4,061,600. This trade 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.

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.