Maryland State Retirement & Pension System Has $6.90 Million Stake in Fiserv, Inc. (NYSE:FI)

Maryland State Retirement & Pension System boosted its stake in shares of Fiserv, Inc. (NYSE:FI) by 0.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,939 shares of the business services provider’s stock after buying an additional 397 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Fiserv were worth $6,900,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in FI. ZRC Wealth Management LLC acquired a new stake in Fiserv during the 1st quarter valued at approximately $32,000. First Trust Direct Indexing L.P. raised its stake in Fiserv by 14.1% during the first quarter. First Trust Direct Indexing L.P. now owns 16,921 shares of the business services provider’s stock worth $2,704,000 after buying an additional 2,093 shares during the last quarter. Kovack Advisors Inc. boosted its position in Fiserv by 3.4% during the first quarter. Kovack Advisors Inc. now owns 12,067 shares of the business services provider’s stock valued at $1,929,000 after acquiring an additional 402 shares during the last quarter. Abundance Wealth Counselors grew its holdings in Fiserv by 2.0% during the 1st quarter. Abundance Wealth Counselors now owns 12,479 shares of the business services provider’s stock worth $1,994,000 after acquiring an additional 240 shares during the period. Finally, Norden Group LLC bought a new position in shares of Fiserv in the 1st quarter worth about $2,359,000. Institutional investors own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on FI. Jefferies Financial Group raised their target price on Fiserv from $150.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, March 25th. TD Cowen raised their price objective on shares of Fiserv from $167.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Wells Fargo & Company started coverage on shares of Fiserv in a report on Wednesday, June 12th. They issued an “overweight” rating and a $180.00 price target for the company. Evercore ISI reiterated an “outperform” rating and set a $185.00 price objective on shares of Fiserv in a report on Tuesday, March 26th. Finally, B. Riley increased their price objective on shares of Fiserv from $176.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $165.44.

Fiserv Stock Performance

Shares of FI stock traded up $0.01 during trading hours on Friday, hitting $148.80. 208,531 shares of the company were exchanged, compared to its average volume of 2,469,485. Fiserv, Inc. has a 52-week low of $109.11 and a 52-week high of $159.99. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.81. The firm has a fifty day simple moving average of $150.50 and a 200 day simple moving average of $147.40. The stock has a market capitalization of $87.06 billion, a price-to-earnings ratio of 27.81, a P/E/G ratio of 1.20 and a beta of 0.92.

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

Insiders Place Their Bets

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

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.