Janney Montgomery Scott LLC Decreases Stock Position in Fiserv, Inc. (NYSE:FI)

Posted by on Jul 22nd, 2023

Janney Montgomery Scott LLC trimmed its holdings in shares of Fiserv, Inc. (NYSE:FI – Free Report) by 4.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,747 shares of the business services provider’s stock after selling 2,683 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Fiserv were worth $6,640,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in FI. AMI Investment Management Inc. raised its position in shares of Fiserv by 33.6% during the 1st quarter. AMI Investment Management Inc. now owns 27,999 shares of the business services provider’s stock valued at $2,839,000 after buying an additional 7,047 shares in the last quarter. American Century Companies Inc. raised its position in shares of Fiserv by 10.4% during the 1st quarter. American Century Companies Inc. now owns 9,227 shares of the business services provider’s stock valued at $936,000 after buying an additional 870 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Fiserv by 158.2% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 963 shares of the business services provider’s stock valued at $98,000 after buying an additional 590 shares in the last quarter. Prudential PLC bought a new position in Fiserv during the 1st quarter valued at about $1,095,000. Finally, Sequoia Financial Advisors LLC bought a new position in Fiserv during the 1st quarter valued at about $357,000. 88.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on FI. Citigroup upped their price target on shares of Fiserv from $135.00 to $140.00 in a report on Wednesday, April 26th. Truist Financial upped their price target on shares of Fiserv from $105.00 to $130.00 in a report on Wednesday, April 26th. Robert W. Baird upped their price target on shares of Fiserv from $138.00 to $145.00 in a report on Wednesday, April 26th. Jefferies Financial Group upped their price target on shares of Fiserv from $120.00 to $130.00 in a report on Wednesday. Finally, Mizuho upped their target price on shares of Fiserv from $135.00 to $140.00 in a research note on Monday, May 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $133.70.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 6,750 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $124.58, for a total transaction of $840,915.00. Following the completion of the sale, the chief operating officer now owns 180,606 shares of the company’s stock, valued at $22,499,895.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Fiserv news, CFO Robert W. Hau sold 8,500 shares of the firm’s stock in a transaction on Friday, May 5th. The shares were sold at an average price of $119.33, for a total value of $1,014,305.00. Following the completion of the transaction, the chief financial officer now owns 133,491 shares of the company’s stock, valued at $15,929,481.03. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Guy Chiarello sold 6,750 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $124.58, for a total transaction of $840,915.00. Following the completion of the transaction, the chief operating officer now directly owns 180,606 shares of the company’s stock, valued at approximately $22,499,895.48. The disclosure for this sale can be found here. Insiders sold 31,250 shares of company stock valued at $3,725,540 over the last 90 days. Insiders own 1.00% of the company’s stock.

Fiserv Price Performance

NYSE FI opened at $128.55 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.08 and a current ratio of 1.08. The firm’s 50 day moving average price is $120.73 and its 200-day moving average price is $115.20. Fiserv, Inc. has a 52-week low of $91.55 and a 52-week high of $130.25. The company has a market cap of $79.36 billion, a PE ratio of 33.92, a P/E/G ratio of 1.41 and a beta of 0.88.

Fiserv (NYSE:FI – Get Free Report) last released its quarterly earnings data on Tuesday, April 25th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.02. Fiserv had a net margin of 13.36% and a return on equity of 13.68%. The firm had revenue of $4.55 billion for the quarter, compared to the consensus estimate of $4.17 billion. During the same period last year, the firm earned $1.40 earnings per share. The company’s quarterly revenue was up 9.9% on a year-over-year basis. Sell-side analysts forecast that Fiserv, Inc. will post 7.36 EPS for the current fiscal year.

About Fiserv

(Free Report)

Fiserv, Inc, together with its subsidiaries, provides payment and financial services technology worldwide. The company operates through Acceptance, Fintech, and Payments segments. The Acceptance segment provides point-of-sale merchant acquiring and digital commerce services; mobile payment services; security and fraud protection products; Carat, an omnichannel commerce solution; Clover, a cloud-based point-of-sale and business management platform; and Clover Connect, an independent software vendors platform.

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Institutional Ownership by Quarter for Fiserv (NYSE:FI)

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