Allspring Global Investments Holdings LLC Cuts Stock Position in Fiserv, Inc. (NYSE:FI)

Allspring Global Investments Holdings LLC lowered its stake in Fiserv, Inc. (NYSE:FI) by 27.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 276,538 shares of the business services provider’s stock after selling 106,569 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Fiserv were worth $56,951,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Valley National Advisers Inc. purchased a new stake in shares of Fiserv in the 4th quarter worth approximately $29,000. Compass Financial Services Inc purchased a new stake in shares of Fiserv in the 4th quarter worth approximately $31,000. Kennebec Savings Bank purchased a new stake in shares of Fiserv in the 3rd quarter worth approximately $40,000. Friedenthal Financial purchased a new stake in shares of Fiserv in the 4th quarter worth approximately $49,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Fiserv during the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Price Performance

Shares of Fiserv stock opened at $229.93 on Friday. Fiserv, Inc. has a one year low of $142.98 and a one year high of $233.26. The stock’s fifty day moving average is $209.78 and its 200 day moving average is $195.00. The stock has a market cap of $130.81 billion, a P/E ratio of 42.66, a P/E/G ratio of 1.52 and a beta of 0.94. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. Sell-side analysts anticipate that Fiserv, Inc. will post 10.22 earnings per share for the current year.

Analysts Set New Price Targets

FI has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Tigress Financial increased their target price on Fiserv from $190.00 to $244.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Royal Bank of Canada increased their target price on Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. TD Cowen increased their target price on Fiserv from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Compass Point initiated coverage on Fiserv in a research note on Wednesday, November 20th. They set a “buy” rating and a $278.00 target price on the stock. Two analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $239.83.

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.