River Global Investors LLP Invests $8.32 Million in Fiserv, Inc. (NYSE:FI)

River Global Investors LLP bought a new stake in shares of Fiserv, Inc. (NYSE:FI) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 62,654 shares of the business services provider’s stock, valued at approximately $8,323,000. Fiserv accounts for about 1.6% of River Global Investors LLP’s investment portfolio, making the stock its 11th largest position.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Fiserv by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 50,506,740 shares of the business services provider’s stock valued at $5,705,241,000 after acquiring an additional 789,232 shares during the period. Northern Trust Corp raised its stake in Fiserv by 2.7% in the 3rd quarter. Northern Trust Corp now owns 6,416,853 shares of the business services provider’s stock valued at $724,848,000 after purchasing an additional 168,286 shares during the last quarter. Invesco Ltd. lifted its holdings in Fiserv by 5.2% in the 3rd quarter. Invesco Ltd. now owns 5,207,615 shares of the business services provider’s stock valued at $588,252,000 after purchasing an additional 258,036 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of Fiserv by 1.8% during the 3rd quarter. California Public Employees Retirement System now owns 3,340,624 shares of the business services provider’s stock worth $377,357,000 after purchasing an additional 60,176 shares during the last quarter. Finally, Pittenger & Anderson Inc. acquired a new position in Fiserv during the fourth quarter worth $400,079,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 23,929 shares of Fiserv stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $151.79, for a total value of $3,632,182.91. Following the transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $24,847,871.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 111,575 shares of company stock valued at $17,022,387 over the last quarter. Company insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FI. KeyCorp upped their price objective on Fiserv from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Oppenheimer raised Fiserv from a “market perform” rating to an “outperform” rating and set a $168.00 target price on the stock in a research report on Thursday, January 11th. UBS Group lifted their price objective on Fiserv from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Truist Financial increased their target price on Fiserv from $140.00 to $145.00 and gave the stock a “hold” rating in a research note on Wednesday, February 7th. Finally, Morgan Stanley raised their target price on Fiserv from $133.00 to $142.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Six investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, Fiserv has a consensus rating of “Moderate Buy” and an average price target of $164.33.

Fiserv Stock Performance

FI traded up $0.05 during trading on Friday, hitting $149.22. 2,942,846 shares of the stock were exchanged, compared to its average volume of 2,577,646. The firm has a market capitalization of $87.31 billion, a P/E ratio of 27.89, a PEG ratio of 1.20 and a beta of 0.92. Fiserv, Inc. has a 1-year low of $109.11 and a 1-year high of $159.99. The stock has a fifty day moving average price of $152.74 and a two-hundred day moving average price of $139.04. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.81.

Fiserv (NYSE:FI) last released its quarterly earnings results on Tuesday, April 23rd. The business services provider reported $1.88 EPS for the quarter, topping the consensus estimate of $1.77 by $0.11. The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.57 billion. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 earnings per share. As a group, sell-side analysts predict that Fiserv, Inc. will post 8.69 earnings per share for the current year.

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.