Longbow Finance SA Buys 8,532 Shares of Fiserv, Inc. (NYSE:FI)

Key Points

• Longbow Finance SA increased its stake in Fiserv, Inc. by 56.3%, holding 23,689 shares valued at $5,231,000 as of its latest SEC filing.
• Several institutional investors, including Norges Bank, significantly enhanced their holdings in Fiserv, with 90.98% of the stock now owned by hedge funds and other institutions.
• Fiserv reported earnings of $2.47 per share for the last quarter, surpassing analyst expectations, with an expected EPS of 10.23 for the current fiscal year.

Longbow Finance SA grew its holdings in Fiserv, Inc. (NYSE:FI - Free Report) by 56.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,689 shares of the business services provider's stock after purchasing an additional 8,532 shares during the quarter. Longbow Finance SA's holdings in Fiserv were worth $5,231,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vega Investment Solutions acquired a new position in shares of Fiserv during the fourth quarter valued at $25,000. Park Square Financial Group LLC acquired a new position in shares of Fiserv during the fourth quarter valued at $28,000. Abound Financial LLC acquired a new position in shares of Fiserv during the first quarter valued at $38,000. Quarry LP lifted its stake in shares of Fiserv by 51.9% during the fourth quarter. Quarry LP now owns 205 shares of the business services provider's stock valued at $42,000 after acquiring an additional 70 shares during the period. Finally, Mpwm Advisory Solutions LLC bought a new stake in Fiserv in the fourth quarter valued at about $54,000. Institutional investors and hedge funds own 90.98% of the company's stock.

Insider Activity at Fiserv

In related news, insider Adam L. Rosman sold 2,512 shares of Fiserv 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 sale, the insider directly owned 53,385 shares of the company's stock, valued at approximately $8,577,901.80. This trade represents a 4.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction that occurred 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 sale, the executive vice president directly owned 25,385 shares of the company's stock, valued at approximately $4,061,600. The trade was a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.75% of the company's stock.

Fiserv Stock Performance

Shares of FI traded down $2.23 during mid-day trading on Monday, reaching $139.80. The company's stock had a trading volume of 5,598,242 shares, compared to its average volume of 4,414,750. Fiserv, Inc. has a 1-year low of $128.22 and a 1-year high of $238.59. The stock has a market cap of $77.51 billion, a P/E ratio of 23.34, a PEG ratio of 0.92 and a beta of 0.91. The business has a 50-day simple moving average of $165.03 and a two-hundred day simple moving average of $194.80. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09.

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

Analyst Ratings Changes

A number of research firms recently commented on FI. Barclays set a $175.00 price objective on Fiserv and gave the company an "overweight" rating in a report on Monday. Morgan Stanley dropped their price objective on Fiserv from $268.00 to $266.00 and set an "overweight" rating for the company in a report on Monday, July 21st. Susquehanna dropped their price objective on Fiserv from $240.00 to $220.00 and set a "positive" rating for the company in a report on Thursday. Truist Financial upped their price objective on Fiserv from $181.00 to $185.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, BMO Capital Markets lowered their price target on Fiserv from $254.00 to $232.00 and set an "outperform" rating for the company in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Fiserv has a consensus rating of "Moderate Buy" and a consensus target price of $208.42.

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.