Prudential PLC Raises Stock Position in Fiserv, Inc. (NYSE:FI)

Prudential PLC boosted its holdings in shares of Fiserv, Inc. (NYSE:FIFree Report) by 130.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,091 shares of the business services provider’s stock after purchasing an additional 17,028 shares during the period. Prudential PLC’s holdings in Fiserv were worth $6,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Fiserv by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 50,079,534 shares of the business services provider’s stock valued at $11,059,063,000 after purchasing an additional 535,407 shares during the period. JPMorgan Chase & Co. grew its position in Fiserv by 77.2% during the first quarter. JPMorgan Chase & Co. now owns 15,354,767 shares of the business services provider’s stock valued at $3,390,793,000 after buying an additional 6,691,703 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Fiserv by 3.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 8,284,433 shares of the business services provider’s stock valued at $1,829,451,000 after buying an additional 253,544 shares in the last quarter. Nuveen LLC purchased a new position in Fiserv in the first quarter valued at $1,722,584,000. Finally, Nuveen Asset Management LLC raised its position in shares of Fiserv by 5.2% in the fourth quarter. Nuveen Asset Management LLC now owns 6,936,554 shares of the business services provider’s stock worth $1,424,907,000 after acquiring an additional 340,938 shares during the period. 90.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on FI shares. Deutsche Bank Aktiengesellschaft started coverage on Fiserv in a research report on Thursday, July 17th. They set a “buy” rating and a $200.00 target price on the stock. Truist Financial increased their price target on Fiserv from $181.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Keefe, Bruyette & Woods dropped their price objective on Fiserv from $240.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, May 21st. BMO Capital Markets cut their price objective on Fiserv from $254.00 to $232.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Finally, KeyCorp decreased their target price on Fiserv from $250.00 to $200.00 and set an “overweight” rating on the stock in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Fiserv currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.08.

Get Our Latest Report on FI

Fiserv Trading Up 1.5%

Shares of Fiserv stock opened at $134.24 on Thursday. 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 stock’s 50 day simple moving average is $158.20 and its 200-day simple moving average is $188.66. The stock has a market cap of $72.97 billion, a P/E ratio of 22.41, a P/E/G ratio of 0.86 and a beta of 0.91. Fiserv, Inc. has a 1-year low of $128.22 and a 1-year high of $238.59.

Fiserv (NYSE:FIGet 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. The firm had revenue of $5.20 billion for 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 was up 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.13 earnings per share. Analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Andrew Gelb sold 5,652 shares of the business’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total transaction of $904,320.00. Following the transaction, the executive vice president owned 25,385 shares of the company’s stock, valued at approximately $4,061,600. The trade was a 18.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Adam L. Rosman sold 2,512 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total transaction of $403,628.16. Following the completion of 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 disclosure for this sale can be found here. 0.74% of the stock is owned by company insiders.

Fiserv Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Fiserv (NYSE:FI)

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