BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 73,699 Shares of Fiserv, Inc. (NYSE:FI)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Fiserv, Inc. (NYSE:FI) by 20.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 428,183 shares of the business services provider’s stock after acquiring an additional 73,699 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.07% of Fiserv worth $63,816,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norden Group LLC bought a new stake in Fiserv in the first quarter worth approximately $2,359,000. BlueSpruce Investments LP bought a new stake in shares of Fiserv in the 4th quarter valued at $646,368,000. ORG Partners LLC lifted its position in shares of Fiserv by 3,016.0% during the 2nd quarter. ORG Partners LLC now owns 3,303 shares of the business services provider’s stock valued at $486,000 after acquiring an additional 3,197 shares during the period. TD Asset Management Inc bought a new position in Fiserv during the fourth quarter worth $39,137,000. Finally, ZRC Wealth Management LLC acquired a new stake in Fiserv in the first quarter worth $32,000. Institutional investors own 90.98% of the company’s stock.

Fiserv Price Performance

Shares of NYSE:FI opened at $179.27 on Tuesday. The company has a market capitalization of $104.89 billion, a P/E ratio of 33.51, a price-to-earnings-growth ratio of 1.38 and a beta of 0.93. The company’s 50-day moving average is $166.70 and its 200 day moving average is $157.03. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.06 and a current ratio of 1.06. Fiserv, Inc. has a fifty-two week low of $109.11 and a fifty-two week high of $179.53.

Fiserv (NYSE:FI) last released its earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $4.81 billion. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.81 EPS. On average, equities research analysts forecast that Fiserv, Inc. will post 8.74 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Frank Bisignano sold 145,000 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the completion of the transaction, the chief executive officer now owns 2,965,084 shares in the company, valued at approximately $525,916,949.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Frank Bisignano sold 145,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $177.37, for a total value of $25,718,650.00. Following the sale, the chief executive officer now owns 2,965,084 shares of the company’s stock, valued at $525,916,949.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP John Gibbons sold 18,890 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the completion of the transaction, the executive vice president now directly owns 28,323 shares of the company’s stock, valued at $4,764,211.83. The disclosure for this sale can be found here. Insiders sold 211,890 shares of company stock valued at $36,572,057 over the last ninety days. 0.75% of the stock is currently owned by insiders.

Analysts Set New Price Targets

FI has been the topic of a number of research analyst reports. KeyCorp increased their price objective on shares of Fiserv from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. TD Cowen increased their price target on Fiserv from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Citigroup upgraded Fiserv to a “strong-buy” rating in a report on Thursday, July 25th. BMO Capital Markets upped their target price on Fiserv from $168.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Morgan Stanley raised shares of Fiserv from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $154.00 to $175.00 in a research report on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $174.88.

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.