Shell Asset Management Co. Boosts Stake in Fiserv, Inc. $FI

Key Points

• Shell Asset Management Co. increased its stake in Fiserv, Inc. by 19.0%, now holding 73,387 shares valued at approximately $12.65 million.
• Brokerages have recently lowered their price targets for Fiserv, with UBS Group setting a new target price of $170.00, down from $225.00.
• Fiserv reported $2.47 earnings per share for the last quarter, exceeding expectations and reflecting an 8% year-over-year revenue growth.

Shell Asset Management Co. raised its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 19.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,387 shares of the business services provider's stock after acquiring an additional 11,707 shares during the quarter. Shell Asset Management Co.'s holdings in Fiserv were worth $12,653,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Activest Wealth Management lifted its stake in Fiserv by 3,150.0% in the 1st quarter. Activest Wealth Management now owns 130 shares of the business services provider's stock worth $29,000 after purchasing an additional 126 shares in the last quarter. Christopher J. Hasenberg Inc grew its position in Fiserv by 218.5% during the second quarter. Christopher J. Hasenberg Inc now owns 207 shares of the business services provider's stock worth $36,000 after buying an additional 142 shares in the last quarter. Armstrong Advisory Group Inc. grew its holdings in shares of Fiserv by 178.9% during the second quarter. Armstrong Advisory Group Inc. now owns 212 shares of the business services provider's stock worth $37,000 after purchasing an additional 136 shares in the last quarter. Abound Financial LLC purchased a new stake in Fiserv in the first quarter valued at approximately $38,000. Finally, Saudi Central Bank purchased a new stake in shares of Fiserv during the 1st quarter valued at $49,000. 90.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on FI. UBS Group decreased their price objective on Fiserv from $225.00 to $170.00 and set a "buy" rating on the stock in a report on Friday, July 25th. Susquehanna lowered their price objective on shares of Fiserv from $240.00 to $220.00 and set a "positive" rating for the company in a report on Thursday, July 24th. Jefferies Financial Group dropped their target price on Fiserv from $140.00 to $130.00 and set a "hold" rating for the company in a report on Monday, September 29th. Robert W. Baird reduced their target price on Fiserv from $225.00 to $185.00 and set an "outperform" rating on the stock in a research note on Thursday, July 24th. Finally, KeyCorp dropped their price target on Fiserv from $250.00 to $200.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $205.96.

Fiserv Stock Performance

Shares of Fiserv stock opened at $125.08 on Tuesday. The stock has a market cap of $67.99 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 0.83 and a beta of 0.95. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.09. Fiserv, Inc. has a 1 year low of $124.89 and a 1 year high of $238.59. The firm's 50-day moving average is $134.29 and its 200 day moving average is $164.25.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share 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 company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.20 billion. During the same quarter last year, the firm earned $2.13 earnings per share. The firm'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. Sell-side 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.

Want to see what other hedge funds are holding FI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fiserv, Inc. (NYSE:FI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.