State Of Michigan Retirement System Reduces Stock Position In Fiserv, Inc. (NYSE:FI)

State Retirement System Of Michigan reduced its holdings in shares of Fiserv, Inc. (NYSE:FI – Free Report) by 2.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 160,234 shares of the business services provider’s stock after selling 4,200 shares during the period. State of Michigan Retirement System’s holdings in Fiserv were worth $23,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in FI. Price T Rowe Associates Inc. MD raised its stake in Fiserv by 0.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 44,720,962 shares of the business services provider’s stock worth $7,147,305,000 after buying an additional 417,459 shares during the last quarter. Capital World Investors boosted its holdings in shares of Fiserv by 7.4% in the first quarter. Capital World Investors now owns 18,840,137 shares of the business services provider’s stock valued at $3,011,031,000 after purchasing an additional 1,303,078 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Fiserv in the 4th quarter valued at $960,592,000. Veritas Asset Management LLP purchased a new stake in Fiserv in the fourth quarter valued at $927,298,000. Finally, Parnassus Investments LLC purchased a new position in Fiserv in the fourth quarter valued at $900,674,000. 90.98% of shares are owned by institutional investors and hedge funds.

Fiserv stock performance

FI opened at $169.85 on Tuesday. Fiserv, Inc. has a 1 year low of $109.11 and a 1 year high of $171.12. The stock has a market cap of $99.38 billion, a P/E ratio of 31.75, a P/E/G ratio of 1.31 and a beta of 0.92. The stock’s 50-day simple moving average is $157.12, and its 200-day simple moving average is $153.42. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.06, and a quick ratio of 1.06.

Fiserv (NYSE:FI – Get Free Report ) last issued its earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.03. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $4.81 billion. In the same quarter last year, the company earned $1.81 per share. Fiserv’s revenue was up 7.4% compared to the same quarter last year. As a group, equities analysts anticipate that Fiserv, Inc. will post 8.73 EPS for the current fiscal year.

Changes in Analyst Ratings

A number of research firms have recently commented on FI. B. Riley upped their target price on Fiserv from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. boosted their price objective on Fiserv from $176.00 to $199.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Mizuho boosted their target price on shares of Fiserv from $156.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Citigroup upgraded shares of Fiserv to a “strong-buy” rating in a research report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Fiserv from $178.00 to $184.00 and gave the stock an “outperform” rating in a research report on Thursday. July 25. Five analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Fiserv presently has an average rating of “Moderate Buy” and an average price target of $173.25.

See our latest report on FI

Insider buying and selling at Fiserv

In other news, EVP John Gibbons sold 18,890 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the completion of the transaction, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at approximately $4,764,211.83. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. In related news, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $154.86, for a total value of $3,716,640.00. Following the completion of the transaction, the chief operating officer now owns 163,699 shares of the company’s stock, valued at approximately $25,350,427.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, EVP John Gibbons sold 18,890 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the completion of the transaction, the executive vice president now owns 28,323 shares in the company, valued at $4,764,211.83. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,690 shares of company stock worth $14,833,215. 0.75% of shares are owned by corporate insiders.

Fiserv company profile

(Free Report)

Fiserv, Inc, together with its subsidiaries, provides payment technology and financial services in the United States, Europe, the Middle East and Africa, Latin America, Asia-Pacific and internationally. It operates through the Merchant Acceptance, Financial Technology and Payments and Network segments.

Read more

Get news and reviews for Fiserv Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Fiserv and related companies with MarketBeat.com ‘s FREE daily email newsletter.