Westpac Banking Corp Has $2.75 Million Holdings in Fiserv, Inc. (NYSE:FI)

Key Points

• Westpac Banking Corp increased its stake in Fiserv, Inc. by 125.2%, owning 12,460 shares valued at approximately $2.75 million as of the end of the first quarter.
• Various institutional investors have been actively buying and selling Fiserv shares, with institutional ownership currently at 90.98%.
• Fiserv's latest quarterly earnings revealed $2.47 EPS, slightly surpassing analyst estimates, and showed an 8.0% revenue increase compared to the same quarter last year.

Westpac Banking Corp lifted its holdings in Fiserv, Inc. (NYSE:FI - Free Report) by 125.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,460 shares of the business services provider's stock after purchasing an additional 6,927 shares during the period. Westpac Banking Corp's holdings in Fiserv were worth $2,752,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Kestra Private Wealth Services LLC boosted its holdings in shares of Fiserv by 3.0% during the first quarter. Kestra Private Wealth Services LLC now owns 7,891 shares of the business services provider's stock worth $1,743,000 after purchasing an additional 230 shares during the period. American National Bank & Trust boosted its holdings in shares of Fiserv by 2.4% during the first quarter. American National Bank & Trust now owns 85,838 shares of the business services provider's stock worth $18,956,000 after purchasing an additional 1,983 shares during the period. Evercore Wealth Management LLC acquired a new stake in shares of Fiserv during the fourth quarter worth approximately $54,981,000. Meridian Wealth Advisors LLC boosted its holdings in shares of Fiserv by 4.1% during the first quarter. Meridian Wealth Advisors LLC now owns 26,865 shares of the business services provider's stock worth $5,933,000 after purchasing an additional 1,046 shares during the period. Finally, Beck Mack & Oliver LLC boosted its holdings in shares of Fiserv by 0.5% during the fourth quarter. Beck Mack & Oliver LLC now owns 513,402 shares of the business services provider's stock worth $105,463,000 after purchasing an additional 2,589 shares during the period. Institutional investors and hedge funds own 90.98% of the company's stock.

Fiserv Trading Up 0.2%

Fiserv stock traded up $0.22 during midday trading on Thursday, hitting $134.51. 4,158,267 shares of the stock were exchanged, compared to its average volume of 6,827,426. The company has a fifty day simple moving average of $157.58 and a two-hundred day simple moving average of $188.12. Fiserv, Inc. has a 52 week low of $128.22 and a 52 week high of $238.59. The stock has a market capitalization of $73.12 billion, a PE ratio of 22.46, a P/E/G ratio of 0.87 and a beta of 0.91. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.09.

Fiserv (NYSE:FI - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share 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 quarter last year, the firm earned $2.13 EPS. Fiserv's quarterly revenue was up 8.0% compared to the same quarter last year. Equities research analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Robert W. Baird reduced their target price on shares of Fiserv from $225.00 to $185.00 and set an "outperform" rating for the company in a research note on Thursday, July 24th. Barclays set a $175.00 target price on shares of Fiserv and gave the stock an "overweight" rating in a research report on Monday, July 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Fiserv in a research report on Thursday, July 17th. They set a "buy" rating and a $200.00 target price on the stock. Morgan Stanley lowered their price target on shares of Fiserv from $268.00 to $266.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Finally, JPMorgan Chase & Co. lowered their price target on shares of Fiserv from $210.00 to $190.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Fiserv presently has an average rating of "Moderate Buy" and a consensus price target of $207.08.

Insider Activity at Fiserv

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of the firm'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 directly owned 25,385 shares in the company, valued at approximately $4,061,600. This trade represents a 18.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Adam L. Rosman sold 2,512 shares of the firm'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 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. Company insiders own 0.74% of the company's stock.

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.