HBK Sorce Advisory LLC Decreases Stake in Fiserv, Inc. (NYSE:FI)

HBK Sorce Advisory LLC lowered its position in Fiserv, Inc. (NYSE:FI) by 2.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,841 shares of the business services provider’s stock after selling 191 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Fiserv were worth $1,020,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Federated Hermes Inc. lifted its position in shares of Fiserv by 160.3% during the 2nd quarter. Federated Hermes Inc. now owns 151,647 shares of the business services provider’s stock worth $22,601,000 after buying an additional 93,393 shares during the last quarter. GHP Investment Advisors Inc. lifted its position in shares of Fiserv by 16.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 588 shares of the business services provider’s stock worth $88,000 after buying an additional 81 shares during the last quarter. Meeder Advisory Services Inc. lifted its position in shares of Fiserv by 58.4% during the 2nd quarter. Meeder Advisory Services Inc. now owns 15,063 shares of the business services provider’s stock worth $2,245,000 after buying an additional 5,554 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Fiserv by 79.2% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 10,395 shares of the business services provider’s stock worth $1,549,000 after buying an additional 4,594 shares during the last quarter. Finally, Main Street Financial Solutions LLC lifted its position in shares of Fiserv by 2.4% during the 2nd quarter. Main Street Financial Solutions LLC now owns 12,752 shares of the business services provider’s stock worth $1,901,000 after buying an additional 297 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Royal Bank of Canada upped their price target on shares of Fiserv from $180.00 to $183.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. TD Cowen upped their price target on shares of Fiserv from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. BTIG Research assumed coverage on shares of Fiserv in a research report on Wednesday, August 28th. They issued a “buy” rating and a $200.00 price target for the company. KeyCorp upped their price target on shares of Fiserv from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company upped their price target on shares of Fiserv from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Six research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.32.

Fiserv Stock Performance

NYSE:FI opened at $174.89 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.85. Fiserv, Inc. has a fifty-two week low of $109.11 and a fifty-two week high of $175.48. The stock has a market cap of $102.33 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 1.38 and a beta of 0.93. The firm’s fifty day simple moving average is $163.69 and its 200-day simple moving average is $155.80.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $4.81 billion. During the same period in the prior year, the company posted $1.81 EPS. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. Analysts expect that Fiserv, Inc. will post 8.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $154.86, for a total value of $3,716,640.00. Following the sale, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $25,350,427.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $154.86, for a total value of $3,716,640.00. Following the sale, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $25,350,427.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John Gibbons sold 18,890 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the completion of the sale, the executive vice president now owns 28,323 shares in the company, valued at $4,764,211.83. The disclosure for this sale can be found here. Insiders have sold 90,890 shares of company stock worth $14,416,687 in the last three months. Corporate insiders own 0.75% of the company’s stock.

Fiserv Profile

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.