State of New Jersey Common Pension Fund D Lowers Holdings in Fiserv, Inc. $FI

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Fiserv, Inc. by 9.4% in the first quarter, now holding shares worth approximately $42.41 million.
• Several institutional investors adjusted their positions in Fiserv, with a notable new stake acquired by Evercore Wealth Management valued at $54.98 million.
• Analyst ratings for Fiserv show strong confidence, with an average target price of $207.08 and 23 analysts assigning a buy rating.

State of New Jersey Common Pension Fund D reduced its position in Fiserv, Inc. (NYSE:FI - Free Report) by 9.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 192,051 shares of the business services provider's stock after selling 20,000 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Fiserv were worth $42,411,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of FI. Nuveen LLC purchased a new stake in Fiserv in the first quarter worth $1,722,584,000. JPMorgan Chase & Co. grew its stake in Fiserv by 77.2% in the first quarter. JPMorgan Chase & Co. now owns 15,354,767 shares of the business services provider's stock worth $3,390,793,000 after purchasing an additional 6,691,703 shares in the last quarter. GAMMA Investing LLC grew its stake in Fiserv by 21,681.0% in the first quarter. GAMMA Investing LLC now owns 3,821,905 shares of the business services provider's stock worth $843,991,000 after purchasing an additional 3,804,358 shares in the last quarter. Kovitz Investment Group Partners LLC grew its stake in Fiserv by 343.7% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider's stock worth $576,527,000 after purchasing an additional 2,174,025 shares in the last quarter. Finally, GQG Partners LLC bought a new position in Fiserv in the first quarter worth approximately $265,769,000. Hedge funds and other institutional investors own 90.98% of the company's stock.

Insiders Place Their Bets

In other news, EVP Andrew Gelb sold 5,652 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total transaction of $904,320.00. Following the sale, the executive vice president directly owned 25,385 shares of the company's stock, valued at $4,061,600. The trade was a 18.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were 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. This trade represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.75% of the stock is owned by insiders.

Fiserv Stock Up 1.4%

NYSE FI traded up $1.8730 on Tuesday, hitting $138.9330. The stock had a trading volume of 4,667,951 shares, compared to its average volume of 4,472,116. The business's fifty day moving average price is $156.38 and its 200 day moving average price is $186.67. 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 52-week low of $128.22 and a 52-week high of $238.59. The stock has a market cap of $75.52 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 0.89 and a beta of 0.91.

Fiserv (NYSE:FI - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.20 billion. During the same period in the previous year, the company earned $2.13 earnings per share. The business's revenue for the quarter was up 8.0% on a year-over-year basis. Fiserv has set its FY 2025 guidance at 10.150-10.30 EPS. Equities research analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Fiserv from $210.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Barclays set a $175.00 price target on shares of Fiserv and gave the stock an "overweight" rating in a research report on Monday, July 28th. Monness Crespi & Hardt raised shares of Fiserv from a "sell" rating to a "neutral" rating in a research report on Monday, July 21st. Morgan Stanley lowered their price target on shares of Fiserv from $268.00 to $266.00 and set an "overweight" rating for the company in a research report on Monday, July 21st. Finally, KeyCorp lowered their price target on shares of Fiserv from $250.00 to $200.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $207.08.

About Fiserv

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.