Sumitomo Mitsui Trust Group Inc. Trims Holdings in Fiserv, Inc. (NYSE:FI)

Sumitomo Mitsui Trust Group Inc. cut its position in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 0.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,293,470 shares of the business services provider's stock after selling 6,961 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Fiserv worth $285,637,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in FI. Vega Investment Solutions purchased a new stake in Fiserv during the fourth quarter worth $25,000. Park Square Financial Group LLC purchased a new stake in Fiserv during the fourth quarter worth $28,000. Campbell Capital Management Inc. purchased a new stake in Fiserv during the fourth quarter worth $37,000. Quarry LP boosted its holdings in Fiserv by 51.9% during the fourth quarter. Quarry LP now owns 205 shares of the business services provider's stock worth $42,000 after buying an additional 70 shares in the last quarter. Finally, Knuff & Co LLC purchased a new stake in Fiserv during the fourth quarter worth $45,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Price Performance

Shares of NYSE:FI traded up $1.11 during midday trading on Friday, hitting $172.47. The company's stock had a trading volume of 3,934,470 shares, compared to its average volume of 3,339,630. The business's 50 day simple moving average is $173.34 and its 200 day simple moving average is $200.54. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market cap of $95.62 billion, a P/E ratio of 30.47, a price-to-earnings-growth ratio of 1.06 and a beta of 0.90. Fiserv, Inc. has a 12-month low of $146.46 and a 12-month high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.06. Fiserv had a net margin of 15.68% and a return on equity of 18.74%. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same period last year, the firm posted $1.88 earnings per share. The company's revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

Insiders Place Their Bets

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total transaction of $904,320.00. Following the transaction, the executive vice president now directly owns 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total transaction of $403,628.16. Following the transaction, the insider now directly owns 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. 0.74% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

FI has been the topic of several recent analyst reports. Piper Sandler set a $218.00 price objective on shares of Fiserv in a report on Friday, April 25th. UBS Group decreased their price objective on shares of Fiserv from $255.00 to $225.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. Keefe, Bruyette & Woods decreased their price objective on shares of Fiserv from $240.00 to $200.00 and set an "outperform" rating on the stock in a report on Wednesday, May 21st. Royal Bank Of Canada set a $237.00 price objective on shares of Fiserv in a report on Friday, April 25th. Finally, Jefferies Financial Group decreased their price objective on shares of Fiserv from $180.00 to $165.00 and set a "hold" rating on the stock in a report on Tuesday, May 27th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $221.23.

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.