Rafferty Asset Management LLC Sells 14,207 Shares of Fiserv, Inc. $FI

Key Points

• Rafferty Asset Management LLC reduced its stake in Fiserv, Inc. by 7.1%, selling 14,207 shares and maintaining holdings valued at approximately $41.2 million.
• Several institutional investors, including Vanguard Group and JPMorgan Chase, have increased their stakes in Fiserv, contributing to a strong institutional ownership of 90.98%.
• Analysts have recently adjusted Fiserv's price target, with UBS Group reducing it from $225 to $170, while maintaining a "buy" rating for the stock.

Rafferty Asset Management LLC cut its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 7.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 186,515 shares of the business services provider's stock after selling 14,207 shares during the period. Rafferty Asset Management LLC's holdings in Fiserv were worth $41,188,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FORA Capital LLC purchased a new position in Fiserv in the first quarter worth $6,899,000. Caisse DE Depot ET Placement DU Quebec grew its position in Fiserv by 31.9% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 301,530 shares of the business services provider's stock worth $66,587,000 after acquiring an additional 72,842 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Fiserv by 1.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 282,329 shares of the business services provider's stock worth $62,347,000 after acquiring an additional 4,070 shares in the last quarter. Groupe la Francaise grew its position in Fiserv by 26.3% in the first quarter. Groupe la Francaise now owns 84,578 shares of the business services provider's stock worth $18,569,000 after acquiring an additional 17,607 shares in the last quarter. Finally, AlphaQuest LLC boosted its position in Fiserv by 178.1% during the first quarter. AlphaQuest LLC now owns 4,478 shares of the business services provider's stock valued at $989,000 after buying an additional 2,868 shares during the period. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FI has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Fiserv in a research report on Thursday, July 17th. They set a "buy" rating and a $200.00 price target for the company. Barclays set a $175.00 price target on shares of Fiserv and gave the company an "overweight" rating in a research report on Monday, July 28th. Susquehanna cut their price target on shares of Fiserv from $240.00 to $220.00 and set a "positive" rating for the company in a research report on Thursday, July 24th. UBS Group cut their price target on shares of Fiserv from $225.00 to $170.00 and set a "buy" rating for the company in a research report on Friday, July 25th. Finally, Stephens cut their price target on shares of Fiserv from $240.00 to $180.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $207.36.

Fiserv Trading Up 0.3%

Shares of NYSE:FI traded up $0.44 during midday trading on Friday, hitting $138.09. 3,769,126 shares of the stock traded hands, compared to its average volume of 4,447,226. The stock has a market capitalization of $75.07 billion, a PE ratio of 23.05, a P/E/G ratio of 0.90 and a beta of 0.91. The business's 50 day moving average is $152.21 and its two-hundred day moving average is $182.43. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. Fiserv, Inc. has a one year low of $128.22 and a one year high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last issued 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. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.20 billion. During the same period in the prior year, the firm posted $2.13 earnings per share. The company's quarterly revenue was up 8.0% compared to the same quarter last year. Fiserv has set its FY 2025 guidance at 10.150-10.30 EPS. As a group, research analysts forecast 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.