Mirae Asset Global Investments Co. Ltd. Purchases 87,688 Shares of Fiserv, Inc. (NYSE:FI)

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 142.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,156 shares of the business services provider's stock after purchasing an additional 87,688 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Fiserv were worth $32,938,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vega Investment Solutions purchased a new stake in shares of Fiserv during the 4th quarter worth about $25,000. Park Square Financial Group LLC bought a new position in shares of Fiserv in the 4th quarter valued at approximately $28,000. Campbell Capital Management Inc. bought a new position in shares of Fiserv in the 4th quarter valued at approximately $37,000. Quarry LP raised its stake in shares of Fiserv by 51.9% in the 4th quarter. Quarry LP now owns 205 shares of the business services provider's stock valued at $42,000 after acquiring an additional 70 shares in the last quarter. Finally, Knuff & Co LLC bought a new position in shares of Fiserv in the 4th quarter valued at approximately $45,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FI. BMO Capital Markets cut their price objective on Fiserv from $254.00 to $232.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Royal Bank Of Canada set a $237.00 price objective on Fiserv in a research note on Friday, April 25th. Keefe, Bruyette & Woods cut their price objective on Fiserv from $240.00 to $200.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 21st. JPMorgan Chase & Co. cut their price objective on Fiserv from $211.00 to $210.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Finally, Robert W. Baird lowered their target price on Fiserv from $250.00 to $225.00 and set an "outperform" rating on the stock in a report on Wednesday, June 18th. Two analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $221.23.

Insiders Place Their Bets

In other news, EVP Andrew Gelb sold 5,652 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total transaction of $904,320.00. Following the completion of the sale, the executive vice president now owns 25,385 shares in the company, valued at $4,061,600. The trade was a 18.21% decrease in their ownership of the stock. The transaction 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 business'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 sale, the insider now owns 53,385 shares of the company's stock, valued at approximately $8,577,901.80. The trade was 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.

Fiserv Price Performance

FI stock traded up $1.11 during trading on Friday, hitting $172.47. The company had a trading volume of 3,934,470 shares, compared to its average volume of 3,337,275. The company has a fifty day moving average price of $173.34 and a two-hundred day moving average price of $200.51. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.02. The company has a market cap of $95.62 billion, a P/E ratio of 30.47, a P/E/G ratio of 1.07 and a beta of 0.90. Fiserv, Inc. has a fifty-two week low of $146.46 and a fifty-two week high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, beating the consensus estimate of $2.08 by $0.06. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.86 billion. Fiserv had a return on equity of 18.74% and a net margin of 15.68%. Fiserv's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.88 EPS. Equities research analysts expect that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal 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.