California Public Employees Retirement System Invests $423.78 Million in Fiserv, Inc. (NYSE:FI)

California Public Employees Retirement System bought a new position in shares of Fiserv, Inc. (NYSE:FI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,190,151 shares of the business services provider’s stock, valued at approximately $423,780,000. California Public Employees Retirement System owned approximately 0.53% of Fiserv at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Hollencrest Capital Management increased its stake in shares of Fiserv by 75.8% in the third quarter. Hollencrest Capital Management now owns 232 shares of the business services provider’s stock worth $26,000 after buying an additional 100 shares during the last quarter. West Oak Capital LLC bought a new stake in shares of Fiserv in the fourth quarter worth $27,000. Halpern Financial Inc. bought a new stake in shares of Fiserv in the fourth quarter worth $27,000. Fortitude Family Office LLC bought a new stake in shares of Fiserv in the fourth quarter worth $28,000. Finally, Glass Jacobson Investment Advisors llc bought a new stake in shares of Fiserv in the fourth quarter worth $31,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FI has been the subject of a number of research analyst reports. Stephens lifted their price target on shares of Fiserv from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Royal Bank of Canada boosted their target price on shares of Fiserv from $144.00 to $158.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Jefferies Financial Group boosted their target price on shares of Fiserv from $150.00 to $160.00 and gave the company a “hold” rating in a research note on Monday, March 25th. Oppenheimer upgraded shares of Fiserv from a “market perform” rating to an “outperform” rating and set a $168.00 target price for the company in a research note on Thursday, January 11th. Finally, StockNews.com started coverage on shares of Fiserv in a research note on Saturday, February 3rd. They set a “buy” rating for the company. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Fiserv currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.79.

Fiserv Price Performance

NYSE FI traded up $0.18 on Monday, reaching $148.80. The company’s stock had a trading volume of 2,743,240 shares, compared to its average volume of 2,516,318. Fiserv, Inc. has a twelve month low of $109.11 and a twelve month high of $159.99. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $87.61 billion, a PE ratio of 29.72, a PEG ratio of 1.21 and a beta of 0.91. The firm’s 50 day moving average is $151.81 and its two-hundred day moving average is $136.69.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Tuesday, February 6th. The business services provider reported $2.19 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.04. Fiserv had a net margin of 16.07% and a return on equity of 15.16%. The company had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same period in the prior year, the company earned $1.91 EPS. Fiserv’s revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts predict that Fiserv, Inc. will post 8.63 EPS for the current year.

Insider Buying and Selling at Fiserv

In other news, COO Guy Chiarello sold 63,646 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.00, for a total value of $9,801,484.00. Following the transaction, the chief operating officer now owns 163,699 shares in the company, valued at approximately $25,209,646. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 111,575 shares of company stock valued at $17,022,387. 0.75% of the stock is owned by insiders.

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.