Fiserv, Inc. (NYSE:FI) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its position in shares of Fiserv, Inc. (NYSE:FI) by 7.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,565 shares of the business services provider’s stock after selling 2,589 shares during the period. Maryland State Retirement & Pension System’s holdings in Fiserv were worth $6,279,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Sanders Capital LLC bought a new stake in shares of Fiserv in the third quarter worth $764,543,000. Raymond James Financial Inc. acquired a new position in Fiserv during the 4th quarter worth $614,982,000. FMR LLC increased its position in shares of Fiserv by 17.8% in the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after purchasing an additional 1,427,664 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of Fiserv in the 4th quarter valued at about $134,710,000. Finally, Kovitz Investment Group Partners LLC lifted its position in shares of Fiserv by 788.7% during the third quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock worth $109,700,000 after purchasing an additional 561,377 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on FI. Citigroup boosted their price objective on Fiserv from $230.00 to $233.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Susquehanna upped their price target on Fiserv from $230.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, February 10th. Oppenheimer raised their price objective on Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. StockNews.com lowered shares of Fiserv from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Compass Point assumed coverage on shares of Fiserv in a research report on Wednesday, November 20th. They issued a “buy” rating and a $278.00 price target on the stock. Three analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.83.

Insider Buying and Selling

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $235.55, for a total transaction 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 approximately $53,637,326.05. This trade represents a 16.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.75% of the stock is owned by corporate insiders.

Fiserv Price Performance

Shares of NYSE FI opened at $220.87 on Thursday. The stock has a market cap of $123.97 billion, a P/E ratio of 40.98, a P/E/G ratio of 1.52 and a beta of 0.93. The firm’s 50-day simple moving average is $219.78 and its 200 day simple moving average is $205.59. Fiserv, Inc. has a fifty-two week low of $145.98 and a fifty-two week high of $238.59. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86.

Fiserv (NYSE:FI) last released its earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, beating 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%. Equities analysts expect that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its Board of Directors has authorized a stock buyback plan on Thursday, February 20th that permits the company to buyback 60,000,000 shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Fiserv Company 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.