Pacer Advisors Inc. Cuts Holdings in Fiserv, Inc. (NYSE:FI)

Key Points

• Pacer Advisors Inc. sold 12,415 shares of Fiserv, Inc., reducing its stake by 22.7%, leaving them with 42,181 shares valued at approximately $9.3 million.
• Fiserv's latest earnings report showed an EPS of $2.47, exceeding estimates, with revenue of $5.20 billion, reflecting an 8% year-over-year growth.
• Consensus ratings from analysts indicate a "Moderate Buy" on Fiserv, with an average target price of $210.54 despite some price adjustments lowering targets.

Pacer Advisors Inc. reduced its position in Fiserv, Inc. (NYSE:FI - Free Report) by 22.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,181 shares of the business services provider's stock after selling 12,415 shares during the quarter. Pacer Advisors Inc.'s holdings in Fiserv were worth $9,315,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Fiserv

In related news, EVP Andrew Gelb sold 5,652 shares of the firm's 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 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 document filed with the SEC, which is available at this hyperlink. 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 transaction of $403,628.16. Following the transaction, 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 disclosure for this sale can be found here. Company insiders own 0.74% of the company's stock.

Fiserv Stock Down 0.4%

FI traded down $0.59 during trading on Thursday, hitting $140.26. The stock had a trading volume of 1,759,478 shares, compared to its average volume of 4,435,218. The company has a market capitalization of $76.24 billion, a PE ratio of 23.42, a PEG ratio of 0.93 and a beta of 0.91. Fiserv, Inc. has a twelve month low of $128.22 and a twelve month high of $238.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a 50 day simple moving average of $163.54 and a two-hundred day simple moving average of $193.65.

Fiserv (NYSE:FI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $2.47 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 business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.20 billion. During the same period in the previous year, the firm posted $2.13 earnings per share. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. On average, research analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on FI. UBS Group dropped their target price on shares of Fiserv from $225.00 to $170.00 and set a "buy" rating for the company in a report on Friday, July 25th. Mizuho decreased their price target on shares of Fiserv from $194.00 to $165.00 and set an "outperform" rating on the stock in a research note on Tuesday. Robert W. Baird decreased their price target on shares of Fiserv from $225.00 to $185.00 and set an "outperform" rating on the stock in a research note on Thursday, July 24th. Piper Sandler set a $218.00 target price on shares of Fiserv in a research report on Friday, April 25th. Finally, Tigress Financial upped their target price on shares of Fiserv from $244.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $207.08.

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.