Price T Rowe Associates Inc. MD Sells 2,627,132 Shares of Fiserv, Inc. $FI

Price T Rowe Associates Inc. MD lessened its stake in Fiserv, Inc. (NYSE:FI) by 7.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,390,825 shares of the business services provider’s stock after selling 2,627,132 shares during the period. Fiserv makes up approximately 0.9% of Price T Rowe Associates Inc. MD’s holdings, making the stock its 15th largest position. Price T Rowe Associates Inc. MD owned about 5.66% of Fiserv worth $6,932,037,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Nuveen LLC purchased a new stake in Fiserv during the first quarter valued at $1,722,584,000. JPMorgan Chase & Co. boosted its position in Fiserv by 77.2% in the first quarter. JPMorgan Chase & Co. now owns 15,354,767 shares of the business services provider’s stock worth $3,390,793,000 after purchasing an additional 6,691,703 shares during the last quarter. GAMMA Investing LLC boosted its position in Fiserv by 21,681.0% in the first quarter. GAMMA Investing LLC now owns 3,821,905 shares of the business services provider’s stock worth $843,991,000 after purchasing an additional 3,804,358 shares during the last quarter. Kovitz Investment Group Partners LLC grew its stake in shares of Fiserv by 343.7% during the 4th 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. Finally, GQG Partners LLC purchased a new stake in shares of Fiserv during the 1st quarter valued at about $265,769,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Fiserv Stock Performance

NYSE:FI opened at $139.9430 on Thursday. The company has a market cap of $76.07 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 0.91 and a beta of 0.91. Fiserv, Inc. has a 1 year low of $128.22 and a 1 year high of $238.59. The stock’s 50 day simple moving average is $155.22 and its two-hundred day simple moving average is $186.02. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.09.

Fiserv (NYSE:FI) last posted its earnings results on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.04. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.20 billion. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. Fiserv’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the firm posted $2.13 earnings per share. Fiserv has set its FY 2025 guidance at 10.150-10.30 EPS. As a group, equities analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Insider Activity at Fiserv

In related news, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total transaction of $904,320.00. Following the sale, the executive vice president owned 25,385 shares in the company, valued at approximately $4,061,600. This represents a 18.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Adam L. Rosman sold 2,512 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total transaction of $403,628.16. Following the transaction, the insider owned 53,385 shares in the company, valued at $8,577,901.80. This trade 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.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on FI shares. Tigress Financial raised their price objective on shares of Fiserv from $244.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Susquehanna decreased their price target on shares of Fiserv from $240.00 to $220.00 and set a “positive” rating on the stock in a research report on Thursday, July 24th. UBS Group cut their price objective on shares of Fiserv from $225.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, July 25th. Mizuho decreased their target price on Fiserv from $194.00 to $165.00 and set an “outperform” rating on the stock in a report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Fiserv from $210.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $207.08.

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.