LGT Fund Management Co Ltd. Acquires New Stake in Fiserv, Inc. $FI

LGT Fund Management Co Ltd. acquired a new stake in Fiserv, Inc. (NYSE:FI) in the second quarter, Holdings Channel reports. The firm acquired 5,043 shares of the business services provider’s stock, valued at approximately $869,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. 111 Capital acquired a new stake in Fiserv in the second quarter valued at $3,035,000. ZWJ Investment Counsel Inc. grew its holdings in Fiserv by 10.9% during the 2nd quarter. ZWJ Investment Counsel Inc. now owns 294,528 shares of the business services provider’s stock worth $50,780,000 after acquiring an additional 29,003 shares during the period. Ascent Group LLC grew its holdings in Fiserv by 10.3% during the 2nd quarter. Ascent Group LLC now owns 25,669 shares of the business services provider’s stock worth $4,426,000 after acquiring an additional 2,388 shares during the period. Two Point Capital Management Inc. acquired a new stake in Fiserv during the 2nd quarter worth about $11,876,000. Finally, Abundance Wealth Counselors grew its holdings in Fiserv by 3.0% during the 2nd quarter. Abundance Wealth Counselors now owns 11,630 shares of the business services provider’s stock worth $1,997,000 after acquiring an additional 337 shares during the period. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on FI. Jefferies Financial Group decreased their price target on Fiserv from $140.00 to $130.00 and set a “hold” rating for the company in a report on Monday, September 29th. Susquehanna decreased their price target on Fiserv from $240.00 to $220.00 and set a “positive” rating for the company in a report on Thursday, July 24th. Stephens decreased their price target on Fiserv from $240.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, July 24th. UBS Group decreased their price target on Fiserv from $225.00 to $170.00 and set a “buy” rating for the company in a report on Friday, July 25th. Finally, Wall Street Zen upgraded Fiserv from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.96.

Fiserv Stock Performance

Shares of FI opened at $127.56 on Friday. Fiserv, Inc. has a one year low of $124.89 and a one year high of $238.59. The company has a market cap of $69.34 billion, a PE ratio of 21.30, a P/E/G ratio of 0.83 and a beta of 0.95. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a 50-day moving average of $134.59 and a 200-day moving average of $165.29.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.04. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.20 billion. During the same quarter last year, the firm earned $2.13 EPS. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. Fiserv has set its FY 2025 guidance at 10.150-10.30 EPS. On average, equities research analysts predict that Fiserv, Inc. will post 10.23 EPS 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.