Hartford Investment Management Co. Reduces Stock Position in Fiserv, Inc. (NYSE:FI)

Hartford Investment Management Co. reduced its holdings in Fiserv, Inc. (NYSE:FI) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,202 shares of the business services provider’s stock after selling 1,153 shares during the period. Hartford Investment Management Co.’s holdings in Fiserv were worth $7,231,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Fiserv by 17.8% during the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after acquiring an additional 1,427,664 shares during the period. Sanders Capital LLC acquired a new stake in shares of Fiserv in the third quarter valued at about $764,543,000. Barclays PLC raised its holdings in Fiserv by 3.0% in the 3rd quarter. Barclays PLC now owns 1,685,157 shares of the business services provider’s stock valued at $302,737,000 after acquiring an additional 48,413 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Fiserv by 0.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,317,778 shares of the business services provider’s stock worth $236,739,000 after buying an additional 4,218 shares in the last quarter. Finally, National Pension Service raised its holdings in shares of Fiserv by 9.2% during the 3rd quarter. National Pension Service now owns 1,112,168 shares of the business services provider’s stock worth $199,801,000 after acquiring an additional 93,508 shares during the period. 90.98% of the stock is owned by institutional investors and hedge funds.

Fiserv Price Performance

NYSE:FI opened at $229.97 on Wednesday. Fiserv, Inc. has a 12-month low of $142.47 and a 12-month high of $233.26. The firm has a market cap of $130.83 billion, a price-to-earnings ratio of 42.67, a price-to-earnings-growth ratio of 1.52 and a beta of 0.94. The company’s 50-day moving average is $209.25 and its two-hundred day moving average is $194.28. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. Research analysts expect that Fiserv, Inc. will post 10.22 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on FI shares. Citigroup raised their price objective on Fiserv from $230.00 to $233.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. BMO Capital Markets boosted their target price on Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Seaport Res Ptn raised shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Morgan Stanley upped their price objective on shares of Fiserv from $258.00 to $267.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, UBS Group increased their price objective on Fiserv from $185.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $239.83.

Fiserv 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.