Mitsubishi UFJ Asset Management Co. Ltd. Increases Stake in Fiserv, Inc. (NYSE:FI)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Fiserv, Inc. by 12.2%, acquiring an additional 110,854 shares in the first quarter, totaling for 1,018,650 shares.
• Multiple institutional investors adjusted their positions in Fiserv, with 90.98% of the company's stock being held by such entities, indicating strong institutional interest.
• Analysts have mixed outlooks on Fiserv, with price target revisions, including a decrease by UBS Group to $170.00, while others like Tigress Financial raised their target to $250.00, reflecting diverse market sentiment.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 12.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,018,650 shares of the business services provider's stock after buying an additional 110,854 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.18% of Fiserv worth $224,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FI. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Fiserv by 1.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,862 shares of the business services provider's stock worth $794,000 after acquiring an additional 44 shares during the last quarter. Rappaport Reiches Capital Management LLC raised its position in Fiserv by 3.9% in the 1st quarter. Rappaport Reiches Capital Management LLC now owns 1,275 shares of the business services provider's stock worth $282,000 after purchasing an additional 48 shares during the period. Adero Partners LLC raised its position in Fiserv by 2.3% in the 1st quarter. Adero Partners LLC now owns 2,490 shares of the business services provider's stock worth $550,000 after purchasing an additional 55 shares during the period. Oakworth Capital Inc. raised its position in Fiserv by 5.6% in the 1st quarter. Oakworth Capital Inc. now owns 1,065 shares of the business services provider's stock worth $235,000 after purchasing an additional 56 shares during the period. Finally, SBI Securities Co. Ltd. raised its position in Fiserv by 6.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 935 shares of the business services provider's stock worth $206,000 after purchasing an additional 56 shares during the period. Hedge funds and other institutional investors own 90.98% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Barclays set a $175.00 target price on shares of Fiserv and gave the stock an "overweight" rating in a research report on Monday, July 28th. Monness Crespi & Hardt upgraded shares of Fiserv from a "sell" rating to a "neutral" rating in a research report on Monday, July 21st. Piper Sandler set a $218.00 price objective on shares of Fiserv in a research note on Friday, April 25th. UBS Group dropped 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, Keefe, Bruyette & Woods dropped their target price on shares of Fiserv from $240.00 to $200.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Fiserv has an average rating of "Moderate Buy" and a consensus target price of $207.08.

Fiserv Stock Down 1.1%

Fiserv stock traded down $1.47 during trading on Monday, reaching $131.77. The stock had a trading volume of 1,391,013 shares, compared to its average volume of 4,475,945. Fiserv, Inc. has a 52-week low of $128.22 and a 52-week high of $238.59. The business has a 50 day moving average price of $159.99 and a 200 day moving average price of $189.97. 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 stock has a market cap of $71.63 billion, a PE ratio of 22.02, a P/E/G ratio of 0.87 and a beta of 0.91.

Fiserv (NYSE:FI - Get Free Report) last issued its quarterly earnings data 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 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 quarter in the previous year, the firm earned $2.13 EPS. On average, analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

Insiders Place Their Bets

In other news, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total value of $403,628.16. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total transaction of $904,320.00. Following the completion of the transaction, the executive vice president directly owned 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 disclosure for this sale can be found here. Insiders own 0.75% of the company's stock.

Fiserv 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.