Arizona State Retirement System Trims Stock Position in Fiserv, Inc. (NYSE:FI)

Arizona State Retirement System lessened its stake in Fiserv, Inc. (NYSE:FI) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 166,481 shares of the business services provider’s stock after selling 1,281 shares during the quarter. Arizona State Retirement System’s holdings in Fiserv were worth $34,199,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of FI. Proficio Capital Partners LLC raised its position in Fiserv by 48.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,361 shares of the business services provider’s stock valued at $485,000 after acquiring an additional 775 shares in the last quarter. M&T Bank Corp boosted its holdings in Fiserv by 0.9% during the fourth quarter. M&T Bank Corp now owns 141,654 shares of the business services provider’s stock worth $29,099,000 after buying an additional 1,194 shares in the last quarter. Assetmark Inc. increased its holdings in Fiserv by 111.1% in the fourth quarter. Assetmark Inc. now owns 87,481 shares of the business services provider’s stock valued at $17,970,000 after buying an additional 46,045 shares in the last quarter. Smithfield Trust Co raised its position in shares of Fiserv by 3.8% in the fourth quarter. Smithfield Trust Co now owns 10,156 shares of the business services provider’s stock worth $2,082,000 after acquiring an additional 370 shares during the period. Finally, NewSquare Capital LLC boosted its stake in shares of Fiserv by 6.4% during the 4th quarter. NewSquare Capital LLC now owns 32,891 shares of the business services provider’s stock worth $6,756,000 after acquiring an additional 1,970 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $235.55, for a total value of $10,599,750.00. Following the completion of the transaction, the chief operating officer now directly owns 227,711 shares of the company’s stock, valued at $53,637,326.05. This represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.75% of the stock is currently owned by corporate insiders.

Fiserv Stock Performance

Shares of Fiserv stock opened at $223.82 on Wednesday. The business has a 50-day simple moving average of $217.59 and a 200-day simple moving average of $202.24. 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, Inc. has a one year low of $145.98 and a one year high of $238.59. The company has a market cap of $125.63 billion, a PE ratio of 41.52, a P/E/G ratio of 1.52 and a beta of 0.94.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, topping the consensus estimate of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. On average, equities research analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its board has approved a share buyback plan on Thursday, February 20th that authorizes the company to repurchase 60,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

FI has been the subject of several recent analyst reports. The Goldman Sachs Group lifted their price target on Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Barclays boosted their price objective on Fiserv from $235.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. 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 report on Thursday, February 6th. StockNews.com lowered shares of Fiserv from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Susquehanna increased their target price on Fiserv from $230.00 to $270.00 and gave the company a “positive” rating in a report on Monday, February 10th. Three analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.83.

Fiserv Profile

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.