abrdn plc Invests $84.55 Million in Fiserv, Inc. (NYSE:FI)

abrdn plc acquired a new position in Fiserv, Inc. (NYSE:FI) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 636,504 shares of the business services provider’s stock, valued at approximately $84,553,000. abrdn plc owned about 0.11% of Fiserv at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in FI. AMI Investment Management Inc. increased its position in shares of Fiserv by 33.6% in the first quarter. AMI Investment Management Inc. now owns 27,999 shares of the business services provider’s stock worth $2,839,000 after acquiring an additional 7,047 shares in the last quarter. American Century Companies Inc. increased its position in shares of Fiserv by 10.4% in the first quarter. American Century Companies Inc. now owns 9,227 shares of the business services provider’s stock worth $936,000 after acquiring an additional 870 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Fiserv by 158.2% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 963 shares of the business services provider’s stock worth $98,000 after acquiring an additional 590 shares in the last quarter. Prudential PLC purchased a new position in shares of Fiserv in the first quarter worth approximately $1,095,000. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Fiserv in the first quarter worth approximately $357,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of Fiserv from $144.00 to $158.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. B. Riley lifted their target price on shares of Fiserv from $152.00 to $176.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Stephens boosted their price objective on shares of Fiserv from $140.00 to $150.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Oppenheimer raised shares of Fiserv from a “market perform” rating to an “outperform” rating and set a $168.00 price objective on the stock in a research report on Thursday, January 11th. Finally, Susquehanna boosted their price objective on shares of Fiserv from $175.00 to $180.00 and gave the company a “positive” rating in a research report on Monday, March 25th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, Fiserv has a consensus rating of “Moderate Buy” and an average target price of $158.21.

Insider Transactions at Fiserv

In other news, COO Guy Chiarello sold 23,929 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $151.79, for a total value of $3,632,182.91. Following the completion of the sale, the chief operating officer now directly owns 163,699 shares in the company, valued at $24,847,871.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 111,575 shares of company stock worth $17,022,387. 0.75% of the stock is owned by insiders.

Fiserv Price Performance

Shares of Fiserv stock opened at $148.62 on Friday. The firm has a fifty day simple moving average of $151.81 and a 200-day simple moving average of $136.53. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.73. Fiserv, Inc. has a 1-year low of $109.11 and a 1-year high of $159.99. The stock has a market capitalization of $87.50 billion, a price-to-earnings ratio of 29.72, a PEG ratio of 1.21 and a beta of 0.91.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Tuesday, February 6th. The business services provider reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.04. Fiserv had a net margin of 16.07% and a return on equity of 15.16%. The business had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.68 billion. During the same period in the previous year, the company earned $1.91 earnings per share. Fiserv’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, sell-side analysts expect that Fiserv, Inc. will post 8.63 earnings per share for the current 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.