Truist Financial Corp Grows Holdings in Fiserv, Inc. (NYSE:FI)

Truist Financial Corp raised its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 263,782 shares of the business services provider's stock after purchasing an additional 5,160 shares during the period. Truist Financial Corp's holdings in Fiserv were worth $58,251,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. grew its holdings in shares of Fiserv by 1.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,862 shares of the business services provider's stock valued at $794,000 after buying an additional 44 shares during the last quarter. Rappaport Reiches Capital Management LLC grew its holdings in shares of Fiserv by 3.9% during the first quarter. Rappaport Reiches Capital Management LLC now owns 1,275 shares of the business services provider's stock valued at $282,000 after buying an additional 48 shares during the last quarter. Adero Partners LLC grew its holdings in shares of Fiserv by 2.3% during the first quarter. Adero Partners LLC now owns 2,490 shares of the business services provider's stock valued at $550,000 after buying an additional 55 shares during the last quarter. Oakworth Capital Inc. grew its holdings in shares of Fiserv by 5.6% during the first quarter. Oakworth Capital Inc. now owns 1,065 shares of the business services provider's stock valued at $235,000 after buying an additional 56 shares during the last quarter. Finally, PDS Planning Inc grew its holdings in shares of Fiserv by 1.7% during the first quarter. PDS Planning Inc now owns 3,421 shares of the business services provider's stock valued at $755,000 after buying an additional 58 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Stock Performance

Shares of NYSE FI traded up $3.10 during midday trading on Friday, hitting $175.55. The company's stock had a trading volume of 2,211,394 shares, compared to its average volume of 3,359,592. The stock has a fifty day moving average price of $170.83 and a 200 day moving average price of $199.47. Fiserv, Inc. has a one year low of $146.46 and a one year high of $238.59. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $97.33 billion, a price-to-earnings ratio of 31.02, a P/E/G ratio of 1.08 and a beta of 0.91.

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

Analyst Ratings Changes

FI has been the subject of a number of analyst reports. Wall Street Zen initiated coverage on shares of Fiserv in a report on Sunday, March 23rd. They set a "buy" rating for the company. Redburn Atlantic restated a "sell" rating and set a $150.00 price target on shares of Fiserv in a report on Thursday, April 17th. Tigress Financial boosted their price target on shares of Fiserv from $244.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. The Goldman Sachs Group cut their price target on shares of Fiserv from $223.00 to $194.00 and set a "buy" rating on the stock in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. cut their price target on shares of Fiserv from $211.00 to $210.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Fiserv has a consensus rating of "Moderate Buy" and a consensus target price of $221.23.

Insider Buying and Selling

In related news, 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 transaction of $904,320.00. Following the sale, the executive vice president owned 25,385 shares of the company's stock, valued at approximately $4,061,600. This represents a 18.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 in the company, valued at $8,577,901.80. This trade represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company's stock.

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.