Fiserv, Inc. (NYSE:FI) Shares Bought by King Luther Capital Management Corp

Key Points

• King Luther Capital Management Corp increased its ownership of Fiserv, Inc. by 33.3%, acquiring an additional 70,952 shares in the first quarter, bringing its total holdings to 284,143 shares valued at approximately $62.75 million.
• Recent insider trading includes Adam L. Rosman selling 2,512 shares and EVP Andrew Gelb selling 5,652 shares, representing decreases in their positions of 4.49% and 18.21% respectively.
• Analysts have varied outlooks on Fiserv, with price targets ranging from $190 to $250, and the stock currently holds an average rating of "Moderate Buy" with a consensus target price of $207.08.

King Luther Capital Management Corp raised its stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 33.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 284,143 shares of the business services provider's stock after acquiring an additional 70,952 shares during the period. King Luther Capital Management Corp owned approximately 0.05% of Fiserv worth $62,747,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kestra Private Wealth Services LLC lifted its stake in Fiserv by 3.0% during the 1st quarter. Kestra Private Wealth Services LLC now owns 7,891 shares of the business services provider's stock valued at $1,743,000 after acquiring an additional 230 shares during the period. American National Bank & Trust lifted its stake in Fiserv by 2.4% during the 1st quarter. American National Bank & Trust now owns 85,838 shares of the business services provider's stock valued at $18,956,000 after acquiring an additional 1,983 shares during the period. Evercore Wealth Management LLC bought a new position in Fiserv during the 4th quarter valued at about $54,981,000. Meridian Wealth Advisors LLC lifted its stake in shares of Fiserv by 4.1% in the 1st 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 lifted its stake in shares of Fiserv by 0.5% in the 4th 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 during the period. Institutional investors own 90.98% of the company's stock.

Analyst Ratings Changes

FI has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price objective on shares of Fiserv from $210.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. Truist Financial increased their price objective on shares of Fiserv from $181.00 to $185.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Citigroup lowered their price objective on shares of Fiserv from $267.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. UBS Group lowered their price objective on shares of Fiserv from $225.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, July 25th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Fiserv in a research note on Thursday, July 17th. They set a "buy" rating and a $200.00 target price on the stock. 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 given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $207.08.

Fiserv Stock Down 0.4%

NYSE:FI traded down $0.51 during trading hours on Thursday, reaching $133.78. The company's stock had a trading volume of 2,503,504 shares, compared to its average volume of 4,465,649. The company has a market capitalization of $72.72 billion, a P/E ratio of 22.35, a price-to-earnings-growth ratio of 0.86 and a beta of 0.91. Fiserv, Inc. has a 12 month low of $128.22 and a 12 month high of $238.59. 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 stock has a 50 day moving average price of $158.20 and a two-hundred day moving average price of $188.66.

Fiserv (NYSE:FI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $2.47 EPS for the quarter, topping analysts' consensus estimates of $2.43 by $0.04. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.20 billion. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. Fiserv's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.13 earnings per share. Equities analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Andrew Gelb sold 5,652 shares of the business'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 completion of the transaction, the executive vice president owned 25,385 shares of the company's stock, valued at $4,061,600. The trade was a 18.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Adam L. Rosman sold 2,512 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total transaction of $403,628.16. Following the completion of the transaction, the insider directly owned 53,385 shares of the company's stock, valued at $8,577,901.80. This trade represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.74% 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.