State of Michigan Retirement System Buys 100 Shares of Fiserv, Inc. (NYSE:FI)

State of Michigan Retirement System lifted its position in shares of Fiserv, Inc. (NYSE:FI) by 0.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 164,434 shares of the business services provider’s stock after purchasing an additional 100 shares during the period. State of Michigan Retirement System’s holdings in Fiserv were worth $26,280,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Fiserv by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 50,506,740 shares of the business services provider’s stock worth $5,705,241,000 after acquiring an additional 789,232 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in Fiserv in the fourth quarter valued at approximately $5,885,279,000. Capital World Investors bought a new position in shares of Fiserv during the 4th quarter worth approximately $2,329,623,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Fiserv in the 4th quarter valued at $960,592,000. Finally, Veritas Asset Management LLP acquired a new position in shares of Fiserv during the 4th quarter valued at $927,298,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Stock Up 1.5 %

Shares of NYSE FI opened at $149.39 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.81. The company has a market cap of $87.41 billion, a P/E ratio of 27.92, a P/E/G ratio of 1.20 and a beta of 0.92. Fiserv, Inc. has a 52 week low of $109.11 and a 52 week high of $159.99. The business has a 50-day simple moving average of $150.78 and a two-hundred day simple moving average of $147.27.

Fiserv (NYSE:FI) last released its quarterly earnings data on Tuesday, April 23rd. The business services provider reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The company had revenue of $4.88 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same period last year, the business earned $1.58 earnings per share. Fiserv’s revenue was up 7.4% compared to the same quarter last year. Research analysts anticipate that Fiserv, Inc. will post 8.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP John Gibbons sold 2,800 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $148.76, for a total transaction of $416,528.00. Following the completion of the transaction, the executive vice president now owns 28,323 shares of the company’s stock, valued at $4,213,329.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP John Gibbons sold 2,800 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $148.76, for a total value of $416,528.00. Following the completion of the transaction, the executive vice president now directly owns 28,323 shares in the company, valued at $4,213,329.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $148.47, for a total value of $3,563,280.00. Following the sale, the chief operating officer now owns 163,699 shares in the company, valued at approximately $24,304,390.53. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,729 shares of company stock worth $7,611,991. Corporate insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on FI. Wells Fargo & Company initiated coverage on shares of Fiserv in a research note on Wednesday, June 12th. They issued an “overweight” rating and a $180.00 price target for the company. Royal Bank of Canada boosted their price objective on Fiserv from $158.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Barclays raised their target price on Fiserv from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, April 1st. KeyCorp upped their price target on Fiserv from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Finally, Citigroup raised their price objective on Fiserv from $171.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $165.44.

Fiserv Company 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.