Royal Bank of Canada Has $304.28 Million Holdings in Fiserv, Inc. (NYSE:FI)

Royal Bank of Canada reduced its holdings in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,481,250 shares of the business services provider's stock after selling 24,601 shares during the quarter. Royal Bank of Canada owned approximately 0.26% of Fiserv worth $304,278,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Fiserv by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 11,891,207 shares of the business services provider's stock valued at $2,435,280,000 after purchasing an additional 218,833 shares in the last quarter. FMR LLC raised its holdings in shares of Fiserv by 22.5% in the 4th quarter. FMR LLC now owns 11,568,895 shares of the business services provider's stock worth $2,376,482,000 after purchasing an additional 2,126,419 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Fiserv by 16.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,030,889 shares of the business services provider's stock worth $1,649,705,000 after acquiring an additional 1,121,597 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Fiserv by 5.2% during the 4th quarter. Nuveen Asset Management LLC now owns 6,936,554 shares of the business services provider's stock valued at $1,424,907,000 after buying an additional 340,938 shares during the period. Finally, Norges Bank acquired a new stake in Fiserv during the 4th quarter valued at $1,406,452,000. Hedge funds and other institutional investors own 90.98% of the company's stock.

Analysts Set New Price Targets

FI has been the subject of a number of research reports. Redburn Atlantic reaffirmed a "sell" rating and issued a $150.00 price objective on shares of Fiserv in a report on Thursday, April 17th. Stephens raised their target price on Fiserv from $255.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Barclays reduced their price objective on shares of Fiserv from $265.00 to $230.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Piper Sandler set a $218.00 price objective on shares of Fiserv in a research note on Friday, April 25th. Finally, Royal Bank of Canada set a $237.00 price target on shares of Fiserv in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $225.80.

Insider Buying and Selling

In related news, COO Guy Chiarello sold 45,000 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $235.55, for a total value of $10,599,750.00. Following the completion of the sale, the chief operating officer now directly owns 227,711 shares in the company, valued at $53,637,326.05. The trade was a 16.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.74% of the stock is owned by corporate insiders.

Fiserv Trading Down 1.9%

Shares of FI stock traded down $3.13 on Tuesday, hitting $166.01. The stock had a trading volume of 5,133,658 shares, compared to its average volume of 3,011,203. The firm has a market cap of $92.04 billion, a P/E ratio of 30.80, a PEG ratio of 1.52 and a beta of 0.97. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The company has a fifty day moving average price of $200.54 and a two-hundred day moving average price of $209.88. Fiserv, Inc. has a twelve month low of $146.25 and a twelve month high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.06. The firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.86 billion. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The business's revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.88 EPS. As a group, analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 20th that allows the company to repurchase 60,000,000 shares. This repurchase authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.

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.