Fiserv, Inc. (NYSE:FI) Position Reduced by Kentucky Retirement Systems

by · The Cerbat Gem

Kentucky Retirement Systems lowered its stake in Fiserv, Inc. (NYSE:FI – Free Report) by 9.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 40,108 shares of the business services provider’s stock after selling 3,983 shares during the period. Kentucky Retirement Systems’ holdings in Fiserv were worth $7,205,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of FI. Wellington Shields & Co. LLC bought a new stake in shares of Fiserv in the 1st quarter valued at approximately $25,000. Clean Yield Group raised its holdings in shares of Fiserv by 431.3% during the third quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock worth $31,000 after purchasing an additional 138 shares during the period. Cedar Mountain Advisors LLC lifted its position in shares of Fiserv by 42.5% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock worth $34,000 after buying an additional 57 shares during the last quarter. Family Firm Inc. acquired a new position in shares of Fiserv in the 2nd quarter valued at about $31,000. Finally, Kennebec Savings Bank acquired a new stake in Fiserv during the third quarter worth about $40,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Stock Up 0.0 %

Shares of FI stock opened at $210.92 on Friday. Fiserv, Inc. has a one year low of $121.86 and a one year high of $215.50. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a fifty day moving average price of $191.36 and a 200 day moving average price of $168.43. The stock has a market cap of $120.00 billion, a P/E ratio of 40.56, a price-to-earnings-growth ratio of 1.63 and a beta of 0.92.

Fiserv (NYSE:FI – Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.04. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period last year, the firm earned $1.96 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. Analysts predict that Fiserv, Inc. will post 8.77 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on FI shares. Tigress Financial upped their target price on Fiserv from $190.00 to $244.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. BTIG Research assumed coverage on Fiserv in a research note on Wednesday, August 28th. They issued a “buy” rating and a $200.00 target price on the stock. Oppenheimer started coverage on shares of Fiserv in a report on Tuesday, October 1st. They issued an “outperform” rating and a $203.00 price objective on the stock. Royal Bank of Canada lifted their price target on Fiserv from $183.00 to $224.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, KeyCorp lifted their target price on Fiserv from $180.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $207.25.

Get Our Latest Research Report on Fiserv

Insider Buying and Selling

In other Fiserv news, EVP John Gibbons sold 18,890 shares of the business’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 transaction, the executive vice president now owns 28,323 shares of the company’s stock, valued at approximately $4,764,211.83. The trade was a 40.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Kenneth Best sold 20,821 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total value of $4,468,394.81. Following the completion of the sale, the chief accounting officer now owns 38,771 shares of the company’s stock, valued at approximately $8,320,644.31. This trade represents a 34.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,711 shares of company stock worth $47,477,232 in the last 90 days. 0.75% of the stock is owned by company insiders.

About Fiserv

(Free Report)

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.

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