Sumitomo Mitsui Trust Group Inc. Increases Stock Position in Fiserv, Inc. $FI

Sumitomo Mitsui Trust Group Inc. raised its holdings in Fiserv, Inc. (NYSE:FI) by 5.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,369,717 shares of the business services provider’s stock after purchasing an additional 76,247 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Fiserv were worth $236,153,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. E Fund Management Co. Ltd. increased its holdings in shares of Fiserv by 3.9% during the 1st quarter. E Fund Management Co. Ltd. now owns 1,463 shares of the business services provider’s stock worth $323,000 after buying an additional 55 shares during the last quarter. Oakworth Capital Inc. boosted its position in Fiserv by 5.6% in the 1st quarter. Oakworth Capital Inc. now owns 1,065 shares of the business services provider’s stock valued at $235,000 after buying an additional 56 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in Fiserv by 6.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 935 shares of the business services provider’s stock valued at $206,000 after buying an additional 56 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in Fiserv by 0.3% in the 1st quarter. Pinnacle Associates Ltd. now owns 16,794 shares of the business services provider’s stock valued at $3,709,000 after buying an additional 57 shares during the last quarter. Finally, PDS Planning Inc boosted its position in Fiserv by 1.7% in the 1st quarter. PDS Planning Inc now owns 3,421 shares of the business services provider’s stock valued at $755,000 after buying an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on FI shares. BTIG Research set a $180.00 price objective on shares of Fiserv and gave the company a “buy” rating in a research report on Friday, October 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fiserv in a research report on Wednesday, October 8th. Monness Crespi & Hardt raised shares of Fiserv from a “sell” rating to a “neutral” rating in a research report on Monday, July 21st. Truist Financial set a $143.00 price target on shares of Fiserv and gave the stock a “buy” rating in a research report on Friday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Fiserv from $190.00 to $155.00 and set an “overweight” rating on the stock in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $181.89.

Fiserv Price Performance

FI opened at $125.12 on Friday. The firm has a market cap of $68.01 billion, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 0.82 and a beta of 0.95. Fiserv, Inc. has a fifty-two week low of $117.84 and a fifty-two week high of $238.59. The company’s 50-day moving average price is $131.01 and its 200 day moving average price is $156.15. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.09.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Tuesday, March 26th. The business services provider reported $1.91 EPS for the quarter. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. The company had revenue of $4.32 billion for the quarter. As a group, sell-side analysts expect that Fiserv, Inc. will post 10.23 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.