Prudential PLC Boosts Stock Position in Fiserv, Inc. (NYSE:FI)

Key Points

• Prudential PLC increased its stake in Fiserv, Inc. by 130.4% in the first quarter, now owning 30,091 shares valued at approximately $6.65 million.
• The majority of Fiserv's stock, about 90.98%, is owned by hedge funds and institutional investors, indicating strong institutional interest.
• Fiserv's latest earnings report showed an EPS of $2.47, exceeding analyst estimates, with an overall revenue increase of 8% compared to the same quarter last year.

Prudential PLC boosted its holdings in Fiserv, Inc. (NYSE:FI - Free Report) by 130.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,091 shares of the business services provider's stock after purchasing an additional 17,028 shares during the quarter. Prudential PLC's holdings in Fiserv were worth $6,645,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Nuveen LLC bought a new stake in Fiserv in the 1st quarter valued at about $1,722,584,000. JPMorgan Chase & Co. increased its position in shares of Fiserv by 77.2% during the first quarter. JPMorgan Chase & Co. now owns 15,354,767 shares of the business services provider's stock valued at $3,390,793,000 after buying an additional 6,691,703 shares during the period. GAMMA Investing LLC increased its position in shares of Fiserv by 21,681.0% in the first quarter. GAMMA Investing LLC now owns 3,821,905 shares of the business services provider's stock worth $843,991,000 after purchasing an additional 3,804,358 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its stake in Fiserv by 343.7% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider's stock worth $576,527,000 after buying an additional 2,174,025 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Fiserv by 19.5% in the fourth quarter. Northern Trust Corp now owns 6,206,720 shares of the business services provider's stock worth $1,274,984,000 after buying an additional 1,014,126 shares in the last quarter. Institutional investors and hedge funds own 90.98% of the company's stock.

Insider Activity

In other news, insider Adam L. Rosman sold 2,512 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider directly owned 53,385 shares in the company, valued at $8,577,901.80. The trade was a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 completion of the sale, the executive vice president directly owned 25,385 shares in the company, valued at $4,061,600. This represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by company insiders.

Fiserv Trading Up 1.6%

NYSE:FI traded up $2.14 during midday trading on Friday, hitting $136.76. 4,221,006 shares of the company traded hands, compared to its average volume of 6,761,472. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09. The firm's fifty day moving average is $156.98 and its 200-day moving average is $187.42. Fiserv, Inc. has a 12-month low of $128.22 and a 12-month high of $238.59. The firm has a market capitalization of $74.34 billion, a P/E ratio of 22.83, a P/E/G ratio of 0.89 and a beta of 0.91.

Fiserv (NYSE:FI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.43 by $0.04. Fiserv had a return on equity of 19.69% and a net margin of 16.00%. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.20 billion. During the same quarter in the prior year, the company earned $2.13 EPS. The business's revenue was up 8.0% compared to the same quarter last year. On average, sell-side analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on FI shares. BMO Capital Markets dropped their price target on Fiserv from $254.00 to $232.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Jefferies Financial Group dropped their price target on Fiserv from $180.00 to $165.00 and set a "hold" rating for the company in a research note on Tuesday, May 27th. JPMorgan Chase & Co. dropped their price target on Fiserv from $210.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Tigress Financial raised their price objective on Fiserv from $244.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Finally, UBS Group lowered their price objective on Fiserv from $225.00 to $170.00 and set a "buy" rating for the company in a research report on Friday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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.