Mirae Asset Global Investments Co. Ltd. Sells 76,358 Shares of Fiserv, Inc. $FI

Key Points

• Mirae Asset Global Investments Co. Ltd. significantly reduced its stake in Fiserv, Inc. by 51.2%, selling 76,358 shares during the 2nd quarter, leaving it with 72,798 shares valued at approximately $12.55 million.
• Several hedge funds increased their holdings in Fiserv, with Activest Wealth Management enhancing its stake by an astonishing 3,150%.
• Fiserv recently reported earnings of $2.47 EPS for the quarter, exceeding consensus estimates, with a revenue of $5.20 billion, reflecting an 8% increase compared to the previous year.

Mirae Asset Global Investments Co. Ltd. lowered its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 51.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,798 shares of the business services provider's stock after selling 76,358 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Fiserv were worth $12,551,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of FI. Activest Wealth Management increased its stake in Fiserv by 3,150.0% during the 1st quarter. Activest Wealth Management now owns 130 shares of the business services provider's stock valued at $29,000 after purchasing an additional 126 shares in the last quarter. Christopher J. Hasenberg Inc increased its stake in Fiserv by 218.5% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 207 shares of the business services provider's stock valued at $36,000 after purchasing an additional 142 shares in the last quarter. Armstrong Advisory Group Inc. increased its stake in Fiserv by 178.9% during the 2nd quarter. Armstrong Advisory Group Inc. now owns 212 shares of the business services provider's stock valued at $37,000 after purchasing an additional 136 shares in the last quarter. Abound Financial LLC bought a new stake in Fiserv during the 1st quarter valued at $38,000. Finally, Saudi Central Bank bought a new stake in Fiserv during the 1st quarter valued at $49,000. Institutional investors own 90.98% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on FI shares. Monness Crespi & Hardt upgraded shares of Fiserv from a "sell" rating to a "neutral" rating in a research note on Monday, July 21st. Weiss Ratings restated a "hold (c)" rating on shares of Fiserv in a research note on Saturday, September 27th. UBS Group decreased their price target on shares of Fiserv from $225.00 to $170.00 and set a "buy" rating for the company in a research note on Friday, July 25th. Stephens cut their price objective on shares of Fiserv from $240.00 to $180.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Finally, Truist Financial lifted their price objective on shares of Fiserv from $181.00 to $185.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $205.96.

Fiserv Price Performance

NYSE FI opened at $127.56 on Friday. The company has a market cap of $69.34 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 0.83 and a beta of 0.95. Fiserv, Inc. has a 52 week low of $124.89 and a 52 week high of $238.59. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The firm's 50-day simple moving average is $134.59 and its two-hundred day simple moving average is $165.29.

Fiserv (NYSE:FI - Get Free Report) last released its quarterly earnings data 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 business had revenue of $5.20 billion for 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%. The company's revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.13 earnings per share. Fiserv has set its FY 2025 guidance at 10.150-10.30 EPS. Research analysts predict that Fiserv, Inc. will post 10.23 earnings per share 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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