Sandler Capital Management Decreases Stock Position in Fiserv, Inc. $FI

Key Points

• Sandler Capital Management has reduced its stake in Fiserv, Inc. by 41.4%, lowering its ownership to 19,460 shares, which are valued at approximately $4.3 million.
• Despite the decrease in Sandler's holdings, other hedge funds have increased their positions in Fiserv, indicating a mixed sentiment among institutional investors.
• Fiserv reported a quarterly earnings per share (EPS) of $2.47, surpassing estimates and demonstrating an 8% revenue growth compared to the previous year.

Sandler Capital Management decreased its stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 41.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,460 shares of the business services provider's stock after selling 13,755 shares during the quarter. Fiserv comprises 1.1% of Sandler Capital Management's holdings, making the stock its 28th largest position. Sandler Capital Management's holdings in Fiserv were worth $4,297,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Gotham Asset Management LLC lifted its position in Fiserv by 5.4% during the first quarter. Gotham Asset Management LLC now owns 74,674 shares of the business services provider's stock worth $16,490,000 after buying an additional 3,809 shares in the last quarter. Kestra Private Wealth Services LLC increased its stake in Fiserv by 3.0% during the first quarter. Kestra Private Wealth Services LLC now owns 7,891 shares of the business services provider's stock worth $1,743,000 after acquiring an additional 230 shares during the last quarter. American National Bank & Trust increased its stake in Fiserv by 2.4% during the first quarter. American National Bank & Trust now owns 85,838 shares of the business services provider's stock worth $18,956,000 after acquiring an additional 1,983 shares during the last quarter. Meridian Wealth Advisors LLC increased its stake in Fiserv by 4.1% during the first quarter. Meridian Wealth Advisors LLC now owns 26,865 shares of the business services provider's stock worth $5,933,000 after acquiring an additional 1,046 shares during the last quarter. Finally, Ethic Inc. increased its stake in Fiserv by 15.0% during the fourth quarter. Ethic Inc. now owns 102,023 shares of the business services provider's stock worth $20,958,000 after acquiring an additional 13,325 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company's stock.

Analyst Upgrades and Downgrades

FI has been the subject of several recent analyst reports. Tigress Financial raised their target price on Fiserv from $244.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. The Goldman Sachs Group cut their target price on Fiserv from $223.00 to $194.00 and set a "buy" rating for the company in a research note on Monday, May 19th. Keefe, Bruyette & Woods cut their target price on Fiserv from $240.00 to $200.00 and set an "outperform" rating for the company in a research note on Wednesday, May 21st. Monness Crespi & Hardt raised Fiserv from a "sell" rating to a "neutral" rating in a research note on Monday, July 21st. Finally, Truist Financial raised their target price on Fiserv from $181.00 to $185.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $207.36.

Fiserv Trading Up 0.7%

Shares of FI traded up $1.01 during midday trading on Tuesday, hitting $136.22. 4,123,148 shares of the stock were exchanged, compared to its average volume of 3,801,657. Fiserv, Inc. has a 52-week low of $128.22 and a 52-week high of $238.59. The stock has a fifty day simple moving average of $146.73 and a 200 day simple moving average of $176.77. The firm has a market cap of $74.05 billion, a P/E ratio of 22.74, a P/E/G ratio of 0.88 and a beta of 0.94. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09.

Fiserv (NYSE:FI - Get Free Report) last released its quarterly earnings results 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 return on equity of 19.69% and a net margin of 16.00%.The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.20 billion. During the same period last year, the business posted $2.13 earnings per share. The company's quarterly revenue was up 8.0% on a year-over-year basis. Fiserv has set its FY 2025 guidance at 10.150-10.30 EPS. On average, research analysts anticipate 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.