Elefante Mark B Has $4.70 Million Stake in Fiserv, Inc. $FI

Elefante Mark B cut its stake in Fiserv, Inc. (NYSE:FI) by 1.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,246 shares of the business services provider’s stock after selling 302 shares during the quarter. Fiserv comprises about 3.5% of Elefante Mark B’s holdings, making the stock its 10th biggest holding. Elefante Mark B’s holdings in Fiserv were worth $4,697,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in FI. Nuveen LLC bought a new position in Fiserv in the 1st quarter worth $1,722,584,000. JPMorgan Chase & Co. raised its holdings in Fiserv by 77.2% in the 1st 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 in the last quarter. Assenagon Asset Management S.A. raised its holdings in Fiserv by 939.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,039,032 shares of the business services provider’s stock worth $351,550,000 after purchasing an additional 1,842,784 shares in the last quarter. Swedbank AB raised its holdings in Fiserv by 366.0% in the 2nd quarter. Swedbank AB now owns 1,588,747 shares of the business services provider’s stock worth $273,916,000 after purchasing an additional 1,247,801 shares in the last quarter. Finally, GQG Partners LLC bought a new position in Fiserv in the 1st quarter worth $265,769,000. 90.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FI. Mizuho decreased their price target on shares of Fiserv from $194.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday, July 29th. Raymond James Financial set a $167.00 price target on shares of Fiserv and gave the stock an “outperform” rating in a research note on Friday. Jefferies Financial Group decreased their price target on shares of Fiserv from $140.00 to $130.00 and set a “hold” rating for the company in a research note on Monday, September 29th. JPMorgan Chase & Co. decreased their price target on shares of Fiserv from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, July 24th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Fiserv in a research note on Thursday, July 17th. They issued a “buy” rating and a $200.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $202.73.

Fiserv Stock Down 0.1%

NYSE:FI opened at $122.55 on Tuesday. The firm has a market cap of $66.62 billion, a P/E ratio of 20.46, a P/E/G ratio of 0.80 and a beta of 0.95. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09. Fiserv, Inc. has a fifty-two week low of $121.93 and a fifty-two week high of $238.59. The firm has a 50-day simple moving average of $132.91 and a two-hundred day simple moving average of $160.91.

Fiserv (NYSE:FI) last released its quarterly earnings data on Tuesday, March 26th. The business services provider reported $1.91 earnings per share for the quarter. The business had revenue of $4.32 billion during the quarter. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. Analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal 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.