Fiserv, Inc. (NYSE:FI) Position Reduced by Utah Retirement Systems

Utah Retirement Systems decreased its position in shares of Fiserv, Inc. (NYSE:FI) by 0.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 93,960 shares of the business services provider’s stock after selling 900 shares during the quarter. Utah Retirement Systems’ holdings in Fiserv were worth $19,301,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Marshall Investment Management LLC bought a new stake in Fiserv during the fourth quarter worth approximately $29,000. Valley National Advisers Inc. acquired a new position in Fiserv in the fourth quarter worth approximately $29,000. Compass Financial Services Inc acquired a new position in Fiserv in the fourth quarter worth approximately $31,000. Campbell Capital Management Inc. acquired a new position in Fiserv in the fourth quarter worth approximately $37,000. Finally, Quarry LP grew its position in Fiserv by 51.9% in the fourth quarter. Quarry LP now owns 205 shares of the business services provider’s stock worth $42,000 after buying an additional 70 shares during the last quarter. Institutional investors own 90.98% of the company’s stock.

Fiserv Trading Up 4.1 %

Fiserv stock opened at $185.28 on Wednesday. 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, Inc. has a 12 month low of $146.25 and a 12 month high of $238.59. The company’s fifty day simple moving average is $213.93 and its 200-day simple moving average is $211.84. The stock has a market cap of $103.49 billion, a P/E ratio of 34.37, a P/E/G ratio of 1.52 and a beta of 0.91.

Fiserv (NYSE:FI) last released its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.06. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same quarter in the previous year, the business earned $1.88 EPS. Fiserv’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its board has authorized a share buyback program on Thursday, February 20th that permits the company to buyback 60,000,000 shares. This buyback authorization permits the business services provider to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total value of $10,599,750.00. Following the completion of the sale, the chief operating officer now owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.75% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on FI. Stephens lifted their price target on shares of Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods decreased their price target on shares of Fiserv from $260.00 to $240.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. UBS Group decreased their price target on shares of Fiserv from $265.00 to $255.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Wells Fargo & Company lifted their price target on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Seaport Res Ptn upgraded shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, one has given a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $230.00.

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.