Fiserv, Inc. (NYSE:FI) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System trimmed its holdings in shares of Fiserv, Inc. (NYSE:FI) by 7.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 30,565 shares of the business services provider’s stock after selling 2,589 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Fiserv were worth $6,279,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Valley National Advisers Inc. bought a new stake in shares of Fiserv during the 4th quarter worth $29,000. Marshall Investment Management LLC purchased a new stake in shares of Fiserv during the fourth quarter valued at $29,000. Compass Financial Services Inc purchased a new stake in shares of Fiserv during the fourth quarter valued at $31,000. Campbell Capital Management Inc. acquired a new position in shares of Fiserv in the 4th quarter valued at $37,000. Finally, Knuff & Co LLC purchased a new position in Fiserv in the 4th quarter worth about $45,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Trading Up 1.8 %

Shares of NYSE:FI opened at $220.87 on Thursday. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $123.97 billion, a PE ratio of 40.98, a P/E/G ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a 1 year low of $145.98 and a 1 year high of $238.59. The firm has a fifty day moving average price of $219.78 and a 200 day moving average price of $205.59.

Fiserv (NYSE:FI) last released its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. Analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its board has authorized a share buyback program on Thursday, February 20th that permits the company to buyback 60,000,000 shares. This buyback authorization permits the business services provider to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total value of $10,599,750.00. Following the completion of the sale, the chief operating officer now directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on FI shares. Oppenheimer raised their target price on shares of Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Citigroup raised their price objective on shares of Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Stephens boosted their target price on shares of Fiserv from $255.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Compass Point began coverage on Fiserv in a research report on Wednesday, November 20th. They issued a “buy” rating and a $278.00 target price for the company. Finally, Barclays upped their price target on Fiserv from $235.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Three research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $239.83.

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.