Canada Pension Plan Investment Board Sells 23,337 Shares of Fiserv, Inc. (NYSE:FI)

Canada Pension Plan Investment Board reduced its holdings in Fiserv, Inc. (NYSE:FI) by 16.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 115,481 shares of the business services provider’s stock after selling 23,337 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Fiserv were worth $17,211,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Wellington Shields & Co. LLC acquired a new position in shares of Fiserv during the first quarter worth about $25,000. ZRC Wealth Management LLC acquired a new position in shares of Fiserv during the first quarter worth about $32,000. RE Dickinson Investment Advisors LLC acquired a new position in shares of Fiserv during the fourth quarter worth about $27,000. Family Firm Inc. acquired a new position in shares of Fiserv during the second quarter worth about $31,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Fiserv during the first quarter worth about $37,000. 90.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FI. Morgan Stanley raised Fiserv from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $154.00 to $175.00 in a research report on Monday, July 22nd. BTIG Research initiated coverage on Fiserv in a research report on Wednesday, August 28th. They set a “buy” rating and a $200.00 price target for the company. Royal Bank of Canada increased their price target on Fiserv from $180.00 to $183.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. William Blair raised Fiserv to a “strong-buy” rating in a research report on Wednesday, July 24th. Finally, TD Cowen increased their price target on Fiserv from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Six analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.32.

Insiders Place Their Bets

In other Fiserv news, EVP John Gibbons sold 18,890 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 28,323 shares in the company, valued at approximately $4,764,211.83. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Fiserv news, EVP John Gibbons sold 18,890 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total value of $3,177,486.90. Following the sale, the executive vice president now owns 28,323 shares of the company’s stock, valued at approximately $4,764,211.83. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $164.97, for a total value of $3,959,280.00. Following the completion of the sale, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $27,005,424.03. The disclosure for this sale can be found here. Insiders have sold a total of 66,890 shares of company stock worth $10,853,407 in the last 90 days. Company insiders own 0.75% of the company’s stock.

Fiserv Price Performance

Fiserv stock opened at $177.61 on Monday. The stock’s fifty day moving average price is $166.23 and its two-hundred day moving average price is $156.83. Fiserv, Inc. has a one year low of $109.11 and a one year high of $178.89. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market cap of $103.92 billion, a PE ratio of 33.20, a price-to-earnings-growth ratio of 1.38 and a beta of 0.93.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $4.81 billion. During the same quarter last year, the company earned $1.81 EPS. The company’s revenue was up 7.4% on a year-over-year basis. As a group, research analysts expect that Fiserv, Inc. will post 8.74 EPS for the current fiscal year.

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.