iA Global Asset Management Inc. Buys 5,322 Shares of Fiserv, Inc. (NYSE:FI)

iA Global Asset Management Inc. lifted its holdings in shares of Fiserv, Inc. (NYSE:FI) by 7.5% during the 1st quarter, Holdings Channel reports. The firm owned 76,239 shares of the business services provider’s stock after purchasing an additional 5,322 shares during the period. iA Global Asset Management Inc.’s holdings in Fiserv were worth $16,836,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Vega Investment Solutions acquired a new stake in Fiserv in the fourth quarter valued at approximately $25,000. Park Square Financial Group LLC bought a new position in Fiserv during the fourth quarter worth $28,000. Abound Financial LLC bought a new position in Fiserv during the first quarter worth $38,000. Quarry LP raised its stake in Fiserv by 51.9% during the fourth quarter. Quarry LP now owns 205 shares of the business services provider’s stock worth $42,000 after buying an additional 70 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC bought a new position in Fiserv during the fourth quarter worth $54,000. 90.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $160.00, for a total value of $904,320.00. Following the transaction, the executive vice president owned 25,385 shares of the company’s stock, valued at $4,061,600. This represents a 18.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Adam L. Rosman sold 2,512 shares of the stock in a transaction 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 completion of the transaction, the insider directly owned 53,385 shares in the company, valued at $8,577,901.80. The trade was a 4.49% decrease in their position. The disclosure for this sale can be found here. 0.75% of the stock is owned by corporate insiders.

Analyst Ratings Changes

FI has been the subject of several research analyst reports. Truist Financial lifted their price target on shares of Fiserv from $181.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. 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. Barclays set a $175.00 price target on shares of Fiserv and gave the company an “overweight” rating in a research note on Monday, July 28th. Monness Crespi & Hardt raised shares of Fiserv from a “sell” rating to a “neutral” rating in a research report on Monday, July 21st. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Fiserv from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $207.08.

Fiserv Stock Performance

Fiserv stock opened at $135.98 on Tuesday. The firm’s 50 day simple moving average is $162.15 and its 200 day simple moving average is $192.06. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $73.92 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 0.88 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:FI) last issued its quarterly earnings results 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 analyst estimates of $5.20 billion. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.13 EPS. As a group, analysts expect 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.