Fiserv, Inc. (NYSE:FI) Position Cut by Cigna Investments Inc. New

Cigna Investments Inc. New trimmed its holdings in Fiserv, Inc. (NYSE:FI) by 1.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,866 shares of the business services provider’s stock after selling 92 shares during the quarter. Cigna Investments Inc. New’s holdings in Fiserv were worth $1,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FI. Sanders Capital LLC bought a new position in Fiserv in the 3rd quarter worth approximately $764,543,000. FMR LLC grew its holdings in Fiserv by 17.8% in the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after buying an additional 1,427,664 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its stake in Fiserv by 788.7% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock valued at $109,700,000 after purchasing an additional 561,377 shares in the last quarter. Mizuho Securities USA LLC boosted its stake in Fiserv by 1,238.6% during the 3rd quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock valued at $108,488,000 after purchasing an additional 558,774 shares in the last quarter. Finally, Cardano Risk Management B.V. bought a new position in Fiserv during the 4th quarter valued at $97,254,000. 90.98% of the stock is owned by institutional investors.

Fiserv Price Performance

Shares of NYSE:FI opened at $230.55 on Tuesday. Fiserv, Inc. has a 1 year low of $142.47 and a 1 year high of $233.26. The business has a fifty day simple moving average of $209.01 and a 200 day simple moving average of $193.75. The firm has a market cap of $131.16 billion, a price-to-earnings ratio of 42.77, a P/E/G ratio of 1.52 and a beta of 0.94. 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, topping analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. As a group, sell-side analysts predict that Fiserv, Inc. will post 10.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. KeyCorp increased their price target on Fiserv from $250.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Mizuho increased their price target on Fiserv from $183.00 to $222.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. TD Cowen raised their price objective on Fiserv from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Oppenheimer raised their price objective on Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, Stephens raised their price objective on Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Two investment 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $239.83.

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.