Public Sector Pension Investment Board Increases Holdings in Fiserv, Inc. (NYSE:FI)

Key Points

• The Public Sector Pension Investment Board increased its stake in Fiserv, Inc. by 1.2% during Q1, owning 580,780 shares valued at approximately $128.25 million.
• Other institutional investors, including Kestra Private Wealth Services and American National Bank & Trust, also raised their positions in Fiserv, which is now owned 90.98% by institutional investors.
• Fiserv reported a quarterly EPS of $2.47, exceeding analyst expectations, and reflected an 8% increase in revenue compared to the same quarter last year.

Public Sector Pension Investment Board lifted its stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 1.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 580,780 shares of the business services provider's stock after acquiring an additional 6,793 shares during the period. Fiserv makes up 0.6% of Public Sector Pension Investment Board's investment portfolio, making the stock its 28th biggest position. Public Sector Pension Investment Board owned about 0.10% of Fiserv worth $128,254,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of the company. Vega Investment Solutions purchased a new position in shares of Fiserv in the fourth quarter worth about $25,000. Park Square Financial Group LLC bought a new position in shares of Fiserv during the fourth quarter valued at about $28,000. Abound Financial LLC purchased a new stake in shares of Fiserv during the first quarter worth about $38,000. Quarry LP grew its stake in shares of Fiserv by 51.9% in the fourth quarter. Quarry LP now owns 205 shares of the business services provider's stock worth $42,000 after purchasing an additional 70 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC purchased a new position in Fiserv during the 4th quarter valued at about $54,000. 90.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FI. Keefe, Bruyette & Woods dropped their price objective on Fiserv from $240.00 to $200.00 and set an "outperform" rating for the company in a report on Wednesday, May 21st. Robert W. Baird dropped their price target on Fiserv from $225.00 to $185.00 and set an "outperform" rating for the company in a research note on Thursday, July 24th. Truist Financial boosted their price objective on shares of Fiserv from $181.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. The Goldman Sachs Group decreased their price objective on shares of Fiserv from $223.00 to $194.00 and set a "buy" rating for the company in a report on Monday, May 19th. Finally, UBS Group cut their target price 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. One investment 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $207.08.

Insider Activity at Fiserv

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of the business's 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 transaction, the executive vice president directly owned 25,385 shares of the company's stock, valued at approximately $4,061,600. The trade was a 18.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Adam L. Rosman sold 2,512 shares of the firm'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 transaction of $403,628.16. Following 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 position. The disclosure for this sale can be found here. Insiders own 0.74% of the company's stock.

Fiserv Stock Up 0.2%

Shares of FI traded up $0.22 during mid-day trading on Thursday, hitting $134.51. The company's stock had a trading volume of 4,158,267 shares, compared to its average volume of 4,477,062. The firm has a market capitalization of $73.12 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 0.86 and a beta of 0.91. The company's 50-day moving average is $158.20 and its 200-day moving average is $188.66. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09. Fiserv, Inc. has a 52-week low of $128.22 and a 52-week high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last released its earnings results on Wednesday, July 23rd. The business services provider reported $2.47 EPS for the quarter, topping analysts' consensus estimates of $2.43 by $0.04. The company had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.20 billion. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. Fiserv's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the business earned $2.13 EPS. On average, equities research analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

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.