Arizona State Retirement System Has $25.51 Million Stock Holdings in Fiserv, Inc. (NYSE:FI)

Arizona State Retirement System lessened its holdings in shares of Fiserv, Inc. (NYSE:FI) by 0.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 171,162 shares of the business services provider’s stock after selling 1,071 shares during the period. Arizona State Retirement System’s holdings in Fiserv were worth $25,510,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in FI. Fisher Asset Management LLC acquired a new position in shares of Fiserv during the 4th quarter worth about $300,000. Aveo Capital Partners LLC bought a new position in Fiserv during the fourth quarter valued at about $309,000. 9258 Wealth Management LLC bought a new position in Fiserv during the fourth quarter valued at about $552,000. National Bank of Canada FI bought a new position in Fiserv during the fourth quarter valued at about $5,141,000. Finally, Private Advisor Group LLC bought a new position in Fiserv during the fourth quarter valued at about $2,546,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on FI. Citigroup upgraded Fiserv to a “strong-buy” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods boosted their price target on Fiserv from $178.00 to $184.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. BTIG Research started coverage on Fiserv in a research note on Wednesday, August 28th. They issued a “buy” rating and a $200.00 price objective on the stock. TD Cowen upped their price objective on Fiserv from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, William Blair upgraded Fiserv to a “strong-buy” rating in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.32.

Insider Activity

In other news, EVP John Gibbons sold 18,890 shares of the 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $154.86, for a total transaction of $3,716,640.00. Following the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at approximately $25,350,427.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Gibbons sold 18,890 shares of the firm’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 sale, the executive vice president now directly owns 28,323 shares in the company, valued at approximately $4,764,211.83. The disclosure for this sale can be found here. Insiders have sold a total of 93,690 shares of company stock valued at $14,833,215 in the last 90 days. 0.75% of the stock is owned by company insiders.

Fiserv Stock Down 0.6 %

NYSE:FI opened at $171.50 on Friday. The stock’s fifty day moving average price is $160.87 and its two-hundred day moving average price is $154.84. Fiserv, Inc. has a 52-week low of $109.11 and a 52-week high of $175.47. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market cap of $100.34 billion, a price-to-earnings ratio of 32.24, a P/E/G ratio of 1.41 and a beta of 0.93.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $4.81 billion. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.81 EPS. On average, analysts anticipate that Fiserv, Inc. will post 8.74 EPS for the current year.

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.