Korea Investment CORP Grows Position in Fiserv, Inc. $FI

Key Points

• Korea Investment CORP increased its stake in Fiserv, Inc. by 15.4%, owning approximately 0.10% of the company valued at $126.52 million after purchasing additional shares during the first quarter.
• Insider Andrew Gelb sold 5,652 shares of Fiserv for about $904,320, which represents an 18.21% decrease in his ownership of the stock.
• Wall Street analysts have a consensus rating of "Moderate Buy" on Fiserv, with price targets ranging from $175.00 to $240.00, reflecting varying levels of confidence in the stock's performance.

Korea Investment CORP raised its holdings in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 15.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 572,929 shares of the business services provider's stock after purchasing an additional 76,335 shares during the quarter. Korea Investment CORP owned approximately 0.10% of Fiserv worth $126,520,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Aptus Capital Advisors LLC lifted its holdings in Fiserv by 5.4% during the first quarter. Aptus Capital Advisors LLC now owns 109,271 shares of the business services provider's stock valued at $24,130,000 after purchasing an additional 5,551 shares during the last quarter. Brooklyn Investment Group lifted its holdings in Fiserv by 88.5% during the first quarter. Brooklyn Investment Group now owns 8,322 shares of the business services provider's stock valued at $1,838,000 after purchasing an additional 3,908 shares during the last quarter. Versor Investments LP purchased a new stake in Fiserv during the first quarter valued at about $415,000. Affinity Investment Advisors LLC lifted its holdings in Fiserv by 18.6% during the first quarter. Affinity Investment Advisors LLC now owns 1,247 shares of the business services provider's stock valued at $275,000 after purchasing an additional 196 shares during the last quarter. Finally, Foyston Gordon & Payne Inc lifted its holdings in Fiserv by 13.8% during the first quarter. Foyston Gordon & Payne Inc now owns 107,892 shares of the business services provider's stock valued at $23,826,000 after purchasing an additional 13,076 shares during the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Andrew Gelb sold 5,652 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total value 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 $4,061,600. This trade represents a 18.21% 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, insider Adam L. Rosman sold 2,512 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total value of $403,628.16. Following the completion of the sale, the insider directly owned 53,385 shares of the company's stock, valued at $8,577,901.80. The trade was a 4.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.75% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on FI. Piper Sandler set a $218.00 price objective on shares of Fiserv in a report on Friday, April 25th. Monness Crespi & Hardt upgraded Fiserv from a "sell" rating to a "neutral" rating in a research report on Monday, July 21st. Susquehanna decreased their price target on Fiserv from $240.00 to $220.00 and set a "positive" rating on the stock in a research report on Thursday, July 24th. BMO Capital Markets decreased their price target on Fiserv from $254.00 to $232.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Finally, Barclays set a $175.00 price target on Fiserv and gave the company an "overweight" rating in a research report on Monday, July 28th. 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 company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $207.08.

Fiserv Stock Up 1.6%

Shares of Fiserv stock opened at $136.76 on Monday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09. Fiserv, Inc. has a 52-week low of $128.22 and a 52-week high of $238.59. The stock has a market capitalization of $74.34 billion, a price-to-earnings ratio of 22.83, a P/E/G ratio of 0.89 and a beta of 0.91. The company's 50 day moving average price is $156.98 and its 200-day moving average price is $187.22.

Fiserv (NYSE:FI - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share (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 firm had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $5.20 billion. During the same quarter last year, the business earned $2.13 earnings per share. The business's revenue was up 8.0% on a year-over-year basis. Equities 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.

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