Fiserv, Inc. (NYSE:FI) Shares Bought by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC increased its holdings in Fiserv, Inc. by 27.2%, acquiring an additional 14,638 shares during the first quarter, bringing its total holdings to 68,511 shares worth approximately $15.13 million.
• Several hedge funds and institutional investors have also increased their stakes in Fiserv, with Citigroup Inc. boosting its holdings by 72.2% to nearly 1.4 million shares valued at $307.68 million.
• Fiserv's stock has seen a decrease of 1.1% recently, with the price hovering around $132.54, and an average target price set at $207.08 by analysts, reflecting a general consensus of a "Moderate Buy."

Townsquare Capital LLC lifted its position in Fiserv, Inc. (NYSE:FI - Free Report) by 27.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 68,511 shares of the business services provider's stock after purchasing an additional 14,638 shares during the quarter. Townsquare Capital LLC's holdings in Fiserv were worth $15,129,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of Fiserv by 21,681.0% during 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 lifted its position in shares of Fiserv by 343.7% during 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. Northern Trust Corp lifted its position in shares of Fiserv by 19.5% during the fourth quarter. Northern Trust Corp now owns 6,206,720 shares of the business services provider's stock worth $1,274,984,000 after purchasing an additional 1,014,126 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Fiserv by 29.4% during the first quarter. Pictet Asset Management Holding SA now owns 2,878,455 shares of the business services provider's stock worth $635,308,000 after purchasing an additional 654,228 shares in the last quarter. Finally, Citigroup Inc. lifted its position in shares of Fiserv by 72.2% during the first quarter. Citigroup Inc. now owns 1,393,268 shares of the business services provider's stock worth $307,675,000 after purchasing an additional 583,949 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company's stock.

Insider Buying and Selling

In related news, insider Adam L. Rosman sold 2,512 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was 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 of the company's stock, valued at approximately $8,577,901.80. This represents a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Andrew Gelb sold 5,652 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total value of $904,320.00. Following the sale, the executive vice president directly owned 25,385 shares in the company, valued at approximately $4,061,600. This represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.75% of the stock is owned by corporate insiders.

Fiserv Trading Up 0.1%

FI traded up $0.18 during midday trading on Tuesday, hitting $132.40. The company's stock had a trading volume of 1,545,700 shares, compared to its average volume of 4,470,364. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09. The firm has a market cap of $71.97 billion, a P/E ratio of 22.10, a PEG ratio of 0.87 and a beta of 0.91. The firm has a 50-day moving average price of $159.40 and a two-hundred day moving average price of $189.43. Fiserv, Inc. has a 52-week low of $128.22 and a 52-week high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.43 by $0.04. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.20 billion. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. The company's revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.13 EPS. On average, research analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Analysts Set New Price Targets

FI has been the topic of several analyst reports. BMO Capital Markets reduced their target price on shares of Fiserv from $254.00 to $232.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Tigress Financial raised their target price on shares of Fiserv from $244.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Monness Crespi & Hardt raised shares of Fiserv from a "sell" rating to a "neutral" rating in a report on Monday, July 21st. Barclays set a $175.00 price objective on shares of Fiserv and gave the stock an "overweight" rating in a report on Monday, July 28th. Finally, KeyCorp cut their price objective on shares of Fiserv from $250.00 to $200.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $207.08.

Fiserv Company 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.