Fiserv, Inc. (NYSE:FI) Shares Purchased by State of Michigan Retirement System

State of Michigan Retirement System grew its position in Fiserv, Inc. (NYSE:FI) by 0.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 164,434 shares of the business services provider’s stock after buying an additional 100 shares during the quarter. State of Michigan Retirement System’s holdings in Fiserv were worth $26,280,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FI. Meritage Portfolio Management acquired a new stake in shares of Fiserv in the fourth quarter valued at approximately $995,000. Piscataqua Savings Bank acquired a new position in shares of Fiserv in the fourth quarter worth $67,000. GHP Investment Advisors Inc. purchased a new stake in shares of Fiserv in the fourth quarter valued at $78,000. Liberty Capital Management Inc. acquired a new stake in shares of Fiserv during the fourth quarter valued at $7,071,000. Finally, Birch Hill Investment Advisors LLC purchased a new stake in Fiserv during the 4th quarter worth about $84,583,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Guy Chiarello sold 23,929 shares of Fiserv stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $151.79, for a total transaction of $3,632,182.91. Following the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at $24,847,871.21. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Fiserv news, COO Guy Chiarello sold 23,929 shares of Fiserv stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $151.79, for a total value of $3,632,182.91. Following the transaction, the chief operating officer now owns 163,699 shares in the company, valued at $24,847,871.21. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP John Gibbons sold 2,800 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $148.76, for a total value of $416,528.00. Following the sale, the executive vice president now owns 28,323 shares of the company’s stock, valued at approximately $4,213,329.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,729 shares of company stock worth $7,611,991. 0.75% of the stock is owned by company insiders.

Fiserv Stock Performance

FI opened at $149.39 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.81. The business’s 50 day moving average is $150.78 and its 200-day moving average is $147.27. The stock has a market cap of $87.41 billion, a PE ratio of 27.92, a price-to-earnings-growth ratio of 1.20 and a beta of 0.92. Fiserv, Inc. has a twelve month low of $109.11 and a twelve month high of $159.99.

Fiserv (NYSE:FI) last announced its earnings results on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The firm had revenue of $4.88 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the prior year, the firm posted $1.58 EPS. Fiserv’s revenue was up 7.4% compared to the same quarter last year. On average, analysts predict that Fiserv, Inc. will post 8.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FI. UBS Group upped their target price on shares of Fiserv from $170.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Susquehanna raised their price target on Fiserv from $175.00 to $180.00 and gave the stock a “positive” rating in a research note on Monday, March 25th. TD Cowen upped their price objective on shares of Fiserv from $167.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Evercore ISI reissued an “outperform” rating and issued a $185.00 target price on shares of Fiserv in a research report on Tuesday, March 26th. Finally, Wells Fargo & Company began coverage on shares of Fiserv in a research report on Wednesday, June 12th. They set an “overweight” rating and a $180.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, Fiserv currently has an average rating of “Moderate Buy” and an average target price of $165.44.

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.