JPMorgan Chase & Co. Raises Position in Fiserv, Inc. (NYSE:FI)

Key Points

• JPMorgan Chase & Co. increased its stake in Fiserv, Inc. by 77.2% during the first quarter, owning approximately $3.39 billion worth of shares following the acquisition of nearly 6.7 million additional shares.
• Insider selling activity was noted with Andrew Gelb and Adam L. Rosman selling 5,652 and 2,512 shares respectively, resulting in decreases of 18.21% and 4.49% in their ownership stakes.
• Analysts have mixed opinions on Fiserv, with recent target price adjustments ranging from $194.00 to $200.00, and an average rating of "Moderate Buy" based on analyst consensus.

JPMorgan Chase & Co. boosted its position in Fiserv, Inc. (NYSE:FI - Free Report) by 77.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,354,767 shares of the business services provider's stock after purchasing an additional 6,691,703 shares during the period. JPMorgan Chase & Co. owned about 2.77% of Fiserv worth $3,390,793,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of Fiserv by 91.9% in the fourth quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider's stock worth $872,000 after purchasing an additional 2,033 shares during the period. Scotia Capital Inc. lifted its holdings in Fiserv by 24.6% in the fourth quarter. Scotia Capital Inc. now owns 16,283 shares of the business services provider's stock worth $3,345,000 after buying an additional 3,215 shares during the period. First Foundation Advisors purchased a new stake in Fiserv in the fourth quarter worth about $211,000. Heritage Trust Co bought a new position in shares of Fiserv during the fourth quarter valued at approximately $8,612,000. Finally, Act Two Investors LLC increased its stake in shares of Fiserv by 813.0% during the fourth quarter. Act Two Investors LLC now owns 81,199 shares of the business services provider's stock valued at $16,680,000 after purchasing an additional 72,305 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FI shares. Jefferies Financial Group reduced their price target on shares of Fiserv from $180.00 to $165.00 and set a "hold" rating for the company in a research report on Tuesday, May 27th. Stephens cut their price objective on shares of Fiserv from $240.00 to $180.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. The Goldman Sachs Group cut their price objective on shares of Fiserv from $223.00 to $194.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Royal Bank Of Canada set a $237.00 price objective on shares of Fiserv in a research report on Friday, April 25th. Finally, KeyCorp cut their price objective on shares of Fiserv from $250.00 to $200.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. One research 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's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $207.08.

Insider Buying and Selling at Fiserv

In related news, insider Adam L. Rosman sold 2,512 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total transaction of $403,628.16. Following the sale, the insider owned 53,385 shares in the company, valued at approximately $8,577,901.80. This trade represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew Gelb sold 5,652 shares of the firm's 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 sale, the executive vice president owned 25,385 shares in the company, valued at approximately $4,061,600. This represents a 18.21% decrease in their position. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by company insiders.

Fiserv Stock Performance

Shares of Fiserv stock traded down $0.02 during trading on Tuesday, hitting $132.20. 3,002,077 shares of the company's stock were exchanged, compared to its average volume of 4,478,920. The stock has a market capitalization of $71.86 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 0.87 and a beta of 0.91. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09. The business has a 50-day simple moving average of $159.40 and a 200-day simple moving average of $189.43. Fiserv, Inc. has a 52-week low of $128.22 and a 52-week high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last released its quarterly 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. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.20 billion. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. The firm's revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the business earned $2.13 earnings per share. On average, research analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

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.