Federated Hermes Inc. Invests $5.49 Million in Fiserv, Inc. (NYSE:FI)

Federated Hermes Inc. purchased a new stake in shares of Fiserv, Inc. (NYSE:FI) during the fourth quarter, Holdings Channel.com reports. The fund purchased 41,308 shares of the business services provider’s stock, valued at approximately $5,487,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FI. DAVENPORT & Co LLC increased its position in shares of Fiserv by 18.0% during the 3rd quarter. DAVENPORT & Co LLC now owns 13,128 shares of the business services provider’s stock valued at $1,483,000 after purchasing an additional 2,002 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in Fiserv by 22.3% during the third quarter. Exchange Traded Concepts LLC now owns 10,189 shares of the business services provider’s stock worth $1,151,000 after buying an additional 1,859 shares during the last quarter. Private Trust Co. NA raised its position in Fiserv by 60.4% in the third quarter. Private Trust Co. NA now owns 2,180 shares of the business services provider’s stock worth $246,000 after acquiring an additional 821 shares during the period. UMB Bank n.a. boosted its stake in Fiserv by 1.0% in the third quarter. UMB Bank n.a. now owns 15,425 shares of the business services provider’s stock valued at $1,742,000 after acquiring an additional 147 shares during the last quarter. Finally, Czech National Bank grew its position in shares of Fiserv by 45.8% during the 3rd quarter. Czech National Bank now owns 106,548 shares of the business services provider’s stock valued at $12,036,000 after acquiring an additional 33,470 shares during the period. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Fiserv Stock Performance

NYSE FI opened at $153.29 on Friday. The company has a market capitalization of $90.25 billion, a P/E ratio of 28.65, a P/E/G ratio of 1.27 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.04 and a current ratio of 1.06. Fiserv, Inc. has a 52-week low of $109.11 and a 52-week high of $159.99. The company has a fifty day moving average of $152.39 and a 200-day moving average of $137.45.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.11. The firm had revenue of $4.88 billion during the quarter, compared to analyst estimates of $4.57 billion. Fiserv had a return on equity of 15.73% and a net margin of 16.68%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 earnings per share. As a group, equities research analysts predict that Fiserv, Inc. will post 8.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $149.53, for a total transaction of $3,588,720.00. Following the transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at $24,477,911.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 111,575 shares of company stock valued at $17,022,387 over the last quarter. 0.75% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

FI has been the topic of several research analyst reports. StockNews.com started coverage on Fiserv in a research note on Saturday, February 3rd. They issued a “buy” rating on the stock. Truist Financial upped their price target on Fiserv from $140.00 to $145.00 and gave the company a “hold” rating in a research report on Wednesday, February 7th. Oppenheimer raised Fiserv from a “market perform” rating to an “outperform” rating and set a $168.00 price objective for the company in a report on Thursday, January 11th. Mizuho restated a “buy” rating and issued a $156.00 price objective on shares of Fiserv in a research note on Wednesday, March 27th. Finally, Morgan Stanley increased their target price on shares of Fiserv from $133.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Six analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Fiserv currently has an average rating of “Moderate Buy” and an average target price of $164.33.

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.