Fiserv, Inc. (NYSE:FI) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd cut its holdings in Fiserv, Inc. (NYSE:FI) by 4.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 94,970 shares of the business services provider’s stock after selling 4,500 shares during the quarter. USS Investment Management Ltd’s holdings in Fiserv were worth $19,523,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Fiserv during the fourth quarter worth about $1,406,452,000. Raymond James Financial Inc. acquired a new stake in Fiserv in the 4th quarter worth about $614,982,000. Kovitz Investment Group Partners LLC increased its stake in Fiserv by 343.7% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,806,579 shares of the business services provider’s stock worth $576,527,000 after buying an additional 2,174,025 shares in the last quarter. Alliancebernstein L.P. increased its stake in Fiserv by 65.6% during the 4th quarter. Alliancebernstein L.P. now owns 5,437,246 shares of the business services provider’s stock worth $1,116,919,000 after buying an additional 2,153,554 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Fiserv by 22.5% during the fourth quarter. FMR LLC now owns 11,568,895 shares of the business services provider’s stock valued at $2,376,482,000 after acquiring an additional 2,126,419 shares during the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Redburn Atlantic reaffirmed a “sell” rating and issued a $150.00 price target on shares of Fiserv in a research note on Thursday, April 17th. Keefe, Bruyette & Woods decreased their price objective on Fiserv from $260.00 to $240.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Stephens upped their target price on shares of Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. The Goldman Sachs Group decreased their price target on shares of Fiserv from $223.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Piper Sandler set a $218.00 price target on shares of Fiserv in a research report on Friday, April 25th. Two analysts have rated the stock with a sell rating, one has given a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $225.80.

Insider Transactions at Fiserv

In related news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction dated 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 transaction, the chief operating officer now owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. This represents a 16.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.74% of the company’s stock.

Fiserv Price Performance

NYSE:FI opened at $166.01 on Wednesday. Fiserv, Inc. has a 52 week low of $146.25 and a 52 week high of $238.59. The stock’s fifty day moving average is $200.54 and its two-hundred day moving average is $209.88. The company has a market capitalization of $92.04 billion, a P/E ratio of 30.80, a P/E/G ratio of 1.52 and a beta of 0.97. 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 issued 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. The firm had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.86 billion. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. Fiserv’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.88 EPS. Equities analysts expect that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its Board of Directors has initiated a share buyback program on Thursday, February 20th that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are 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.