New York Life Investment Management LLC Has $17.37 Million Stock Position in Fiserv, Inc. (NYSE:FI)

New York Life Investment Management LLC lessened its holdings in shares of Fiserv, Inc. (NYSE:FI) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,577 shares of the business services provider’s stock after selling 794 shares during the quarter. New York Life Investment Management LLC’s holdings in Fiserv were worth $17,374,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Soros Capital Management LLC increased its holdings in shares of Fiserv by 71.7% during the 3rd quarter. Soros Capital Management LLC now owns 54,797 shares of the business services provider’s stock worth $9,844,000 after acquiring an additional 22,884 shares during the last quarter. Czech National Bank boosted its position in Fiserv by 5.2% during the fourth quarter. Czech National Bank now owns 123,353 shares of the business services provider’s stock worth $25,339,000 after purchasing an additional 6,072 shares during the period. Chiron Investment Management LLC acquired a new position in shares of Fiserv in the third quarter valued at $4,709,000. Trust Co. of Vermont raised its position in shares of Fiserv by 170.4% in the fourth quarter. Trust Co. of Vermont now owns 6,839 shares of the business services provider’s stock valued at $1,405,000 after purchasing an additional 4,310 shares during the period. Finally, Cardano Risk Management B.V. acquired a new stake in shares of Fiserv during the 4th quarter worth about $97,254,000. Institutional investors own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FI. Susquehanna upped their price target on shares of Fiserv from $230.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, February 10th. Royal Bank of Canada upped their target price on Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Seaport Res Ptn upgraded shares of Fiserv from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. KeyCorp boosted their price objective on Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company boosted their target price on shares of Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Fiserv has an average rating of “Moderate Buy” and an average price target of $239.83.

Fiserv Price Performance

Shares of FI opened at $229.58 on Thursday. The firm has a market cap of $128.86 billion, a PE ratio of 42.59, a price-to-earnings-growth ratio of 1.52 and a beta of 0.94. Fiserv, Inc. has a 52-week low of $145.98 and a 52-week high of $237.99. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06. The business’s 50 day moving average price is $215.50 and its two-hundred day moving average price is $200.07.

Fiserv (NYSE:FI) last released its earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) 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%. On average, equities analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its board has initiated a stock repurchase plan on Thursday, February 20th that allows the company to repurchase 60,000,000 shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the completion of the sale, the chief operating officer now owns 227,711 shares in the company, valued at $53,637,326.05. The trade was a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.75% of the company’s stock.

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.