M&G Plc Reduces Stake in Fiserv, Inc.

M&G Plc has decreased its investment in Fiserv, Inc. (NYSE:FI - Free Report) by 8.1% during the third quarter, as revealed in its latest 13F filing with the Securities and Exchange Commission (SEC). After selling 5,521 shares in this period, the fund now holds 62,552 shares of the business services provider, which amounts to a value of approximately $11,259,000 based on the recent SEC disclosure.

• Fiserv Is Up 50% This Year and Can Go Another 50% Higher

In addition, other institutional investors and hedge funds have actively traded shares of Fiserv recently. For instance, Bessemer Group Inc. boosted its position in Fiserv by an impressive 67.2% during the first quarter, now owning 3,251,722 shares valued at around $519,690,000 after purchasing an additional 1,306,901 shares last quarter. Similarly, Capital World Investors increased its holdings by 7.4%, bringing its total to 18,840,137 shares worth approximately $3,011,031,000 following a purchase of 1,303,078 shares. Furthermore, Maj Invest Holding A S entered into a new position in Fiserv worth about $172,993,000 in the third quarter. Manning & Napier Advisors LLC also acquired a new stake valued at around $105,031,000 during the second quarter. Additionally, American Century Companies Inc. raised its holdings by 1,642.5% in the second quarter, now owning 500,239 shares worth approximately $74,556,000 after acquiring an extra 471,531 shares. Presently, hedge funds and other institutional investors control about 90.98% of Fiserv's stock.

Insider Transactions at Fiserv

In other significant news, Fiserv's Chief Operating Officer, Guy Chiarello, sold 24,000 shares on August 15th at an average price of $164.97, totaling about $3,959,280. After this transaction, he retains ownership of 163,699 shares valued at approximately $27,005,424.03, reflecting no change in his ownership percentage. This sale was reported in a filing with the SEC. Additionally, Executive Vice President John Gibbons sold 18,890 shares on August 21st, with a total value of around $3,177,487. The executive now owns 28,323 shares, valued at about $4,764,211.83. Over the past three months, insiders have offloaded 257,890 shares of Fiserv worth about $46,968,117, while insider ownership currently stands at 0.75% of the total shares.

Current Stock Performance of Fiserv

• Why Q2 Holdings Stock Could Be Your Next Big Buy

As of Friday, Fiserv shares (NYSE:FI) opened at $208.87. The company has a market capitalization of $118.83 billion, with a price-to-earnings ratio of 40.17 and a growth ratio of 1.54, alongside a beta of 0.92. The 50-day moving average is $185.93, while the 200-day moving average stands at $165.66. Fiserv has recorded a 52-week low of $118.42 and a high of $211.98. Financial ratios indicate a quick ratio of 1.07, a current ratio of 1.07, and a debt-to-equity ratio of 0.85.

On October 22nd, Fiserv reported its quarterly earnings. The company posted earnings of $2.30 per share, outpacing the consensus estimate of $2.26 by $0.04. The company achieved a net margin of 15.22% and a return on equity of 17.10%. Quarterly revenues reached $5.22 billion, exceeding expectations of $4.90 billion for the same period last year. In the previous year, Fiserv had a reported EPS of $1.96, indicating a year-over-year revenue growth of 7.0%. Analysts anticipate a forecast of 8.77 earnings per share for the current fiscal year.

Analyst Ratings and Targets

• Affirm Shows Buy-Now-Pay-Later Is Here to Stay in Latest Results

Fiserv has been the subject of numerous analyst evaluations recently. Barclays raised its target price for Fiserv from $185.00 to $215.00, granting it an "overweight" rating in its report on October 10th. Similarly, Robert W. Baird increased its price target from $186.00 to $200.00, also assigning an "outperform" rating. Morgan Stanley lifted its target from $177.00 to $220.00 with an "overweight" rating, while TD Cowen raised its target to $230.00, maintaining a "buy" rating. Keefe, Bruyette & Woods adjusted its price target from $178.00 to $184.00, rating it as "outperform". Presently, four research analysts have rated the stock with a hold rating, twenty-one have issued buy ratings, and two have assigned a strong buy rating. According to MarketBeat.com, Fiserv holds an average rating of "Moderate Buy" with an average target price of about $207.25.

Learn More About Fiserv

About Fiserv

Fiserv, Inc. provides various payment and financial service technologies across the U.S., Europe, the Middle East and Africa, Latin America, and the Asia-Pacific regions, through its Merchant Acceptance, Financial Technology, and Payments and Network segments.

investment, stocks, finance