King Luther Capital Management Corp Buys 70,952 Shares of Fiserv, Inc. (NYSE:FI)

King Luther Capital Management Corp grew its stake in shares of Fiserv, Inc. (NYSE:FI) by 33.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 284,143 shares of the business services provider’s stock after acquiring an additional 70,952 shares during the quarter. King Luther Capital Management Corp owned about 0.05% of Fiserv worth $62,747,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC increased its holdings in Fiserv by 91.9% in the 4th quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider’s stock worth $872,000 after buying an additional 2,033 shares in the last quarter. Scotia Capital Inc. increased its holdings in Fiserv by 24.6% in the 4th quarter. Scotia Capital Inc. now owns 16,283 shares of the business services provider’s stock worth $3,345,000 after buying an additional 3,215 shares in the last quarter. First Foundation Advisors bought a new stake in Fiserv in the 4th quarter worth about $211,000. Petros Family Wealth LLC bought a new stake in Fiserv in the 4th quarter worth about $279,000. Finally, Rockefeller Capital Management L.P. increased its holdings in Fiserv by 4.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 87,727 shares of the business services provider’s stock worth $18,013,000 after buying an additional 3,787 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Insider Activity at Fiserv

In other 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 $8,577,901.80. This represents a 4.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew Gelb sold 5,652 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The stock was 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 $4,061,600. This trade represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.74% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Tigress Financial lifted their price objective on Fiserv from $244.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. JPMorgan Chase & Co. cut their price target on Fiserv from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, July 24th. Citigroup cut their price target on Fiserv from $267.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Keefe, Bruyette & Woods cut their price target on Fiserv from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, May 21st. Finally, Susquehanna cut their price target on Fiserv from $240.00 to $220.00 and set a “positive” rating for the company in a research note on Thursday, July 24th. One investment 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $207.08.

Fiserv Trading Up 0.3%

FI stock opened at $133.10 on Friday. Fiserv, Inc. has a 1-year low of $128.22 and a 1-year high of $238.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $72.35 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 0.87 and a beta of 0.91. The business has a 50 day simple moving average of $159.99 and a two-hundred day simple moving average of $190.08.

Fiserv (NYSE:FI) last posted its quarterly earnings results 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. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.20 billion. Fiserv had a return on equity of 19.69% and a net margin of 16.00%. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.13 EPS. Research analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

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.