Zions Bancorporation National Association UT Buys Shares of 2,914 Fiserv, Inc. (NYSE:FI)

Key Points

• Zions Bancorporation National Association has acquired a stake of 2,914 shares in Fiserv, Inc., valued at approximately $643,000.
• Multiple hedge funds increased their holdings in Fiserv, with GAMMA Investing LLC raising its stake by 21,681%, now owning nearly $844 million in shares.
• Analysts have adjusted price targets for Fiserv, with a consensus target of $207.08 and a majority rating it as a "Moderate Buy."

Zions Bancorporation National Association UT bought a new stake in Fiserv, Inc. (NYSE:FI - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,914 shares of the business services provider's stock, valued at approximately $643,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its holdings 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 valued at $843,991,000 after purchasing an additional 3,804,358 shares during the period. Kovitz Investment Group Partners LLC increased its holdings 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 valued at $576,527,000 after purchasing an additional 2,174,025 shares during the period. Northern Trust Corp increased its holdings 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 valued at $1,274,984,000 after purchasing an additional 1,014,126 shares during the period. Pictet Asset Management Holding SA increased its holdings 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 valued at $635,308,000 after purchasing an additional 654,228 shares during the period. Finally, Citigroup Inc. increased its holdings 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 valued at $307,675,000 after purchasing an additional 583,949 shares during the period. 90.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FI has been the topic of a number of research analyst reports. Susquehanna lowered their price target on Fiserv from $240.00 to $220.00 and set a "positive" rating on the stock in a report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft started coverage on Fiserv in a report on Thursday, July 17th. They set a "buy" rating and a $200.00 price target on the stock. Barclays set a $175.00 target price on Fiserv and gave the stock an "overweight" rating in a report on Monday, July 28th. Robert W. Baird lowered their target price on Fiserv from $225.00 to $185.00 and set an "outperform" rating on the stock in a report on Thursday, July 24th. Finally, KeyCorp lowered their target price on 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 given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Fiserv has a consensus rating of "Moderate Buy" and a consensus target price of $207.08.

Fiserv Trading Up 0.3%

NYSE:FI opened at $133.10 on Friday. 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, Inc. has a 1-year low of $128.22 and a 1-year high of $238.59. The firm has a market capitalization of $72.35 billion, a price-to-earnings ratio of 22.22, a price-to-earnings-growth ratio of 0.87 and a beta of 0.91. The stock has a fifty day simple moving average of $159.99 and a 200 day simple moving average of $190.08.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $2.47 EPS for the quarter, topping analysts' consensus estimates of $2.43 by $0.04. Fiserv had a return on equity of 19.69% and a net margin of 16.00%. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.20 billion. During the same period last year, the company posted $2.13 EPS. The business's quarterly revenue was up 8.0% compared to the same quarter last year. Sell-side analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Insider Transactions at Fiserv

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total transaction of $904,320.00. Following the completion of 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 legal filing with the SEC, which is available through this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total value of $403,628.16. Following the sale, the insider owned 53,385 shares of the company's stock, valued at $8,577,901.80. The trade was 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.

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.

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