Kentucky Retirement Systems Insurance Trust Fund Has $3.64 Million Position in Fiserv, Inc. (NYSE:FI)

Kentucky Retirement Systems Insurance Trust Fund grew its holdings in Fiserv, Inc. (NYSE:FI) by 80.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,473 shares of the business services provider’s stock after purchasing an additional 7,339 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Fiserv were worth $3,638,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Centricity Wealth Management LLC bought a new stake in shares of Fiserv in the fourth quarter valued at about $79,000. American National Bank & Trust lifted its stake in shares of Fiserv by 2.4% in the first quarter. American National Bank & Trust now owns 85,838 shares of the business services provider’s stock valued at $18,956,000 after buying an additional 1,983 shares during the period. Evercore Wealth Management LLC bought a new stake in shares of Fiserv in the fourth quarter valued at about $54,981,000. Union Bancaire Privee UBP SA bought a new stake in shares of Fiserv in the fourth quarter valued at about $11,330,000. Finally, Fairfield Financial Advisors LTD bought a new stake in shares of Fiserv in the fourth quarter valued at about $127,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Fiserv Stock Performance

Shares of Fiserv stock opened at $162.97 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $90.36 billion, a P/E ratio of 28.79, a P/E/G ratio of 1.01 and a beta of 0.90. The firm has a 50 day simple moving average of $177.23 and a 200 day simple moving average of $201.64. Fiserv, Inc. has a fifty-two week low of $146.46 and a fifty-two week high of $238.59.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.06. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.86 billion. Fiserv had a net margin of 15.68% and a return on equity of 18.74%. Fiserv’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.88 earnings per share. Sell-side analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Insider Activity at Fiserv

In other Fiserv news, insider Adam L. Rosman sold 2,512 shares of Fiserv stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total transaction of $403,628.16. Following the completion of the sale, the insider now owns 53,385 shares of the company’s stock, valued at approximately $8,577,901.80. The trade was a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew Gelb sold 5,652 shares of Fiserv stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total transaction of $904,320.00. Following the sale, the executive vice president now directly owns 25,385 shares of the company’s stock, valued at $4,061,600. This represents a 18.21% decrease in their position. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Robert W. Baird reduced their target price on shares of Fiserv from $250.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday. BMO Capital Markets reduced their target price on shares of Fiserv from $254.00 to $232.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Piper Sandler set a $218.00 target price on shares of Fiserv in a research note on Friday, April 25th. Barclays cut their price target on shares of Fiserv from $265.00 to $230.00 and set an “overweight” rating for the company in a research note on Monday, April 28th. Finally, The Goldman Sachs Group cut their price target on shares of Fiserv from $223.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Fiserv has a consensus rating of “Moderate Buy” and a consensus target price of $221.23.

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.