Arizona State Retirement System Sells 1,281 Shares of Fiserv, Inc. (NYSE:FI)

Arizona State Retirement System cut its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 166,481 shares of the business services provider's stock after selling 1,281 shares during the period. Arizona State Retirement System's holdings in Fiserv were worth $34,199,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of FI. Valley National Advisers Inc. bought a new stake in shares of Fiserv during the fourth quarter worth approximately $29,000. Marshall Investment Management LLC bought a new stake in shares of Fiserv during the fourth quarter worth approximately $29,000. Compass Financial Services Inc bought a new stake in shares of Fiserv during the fourth quarter worth approximately $31,000. Kennebec Savings Bank bought a new stake in shares of Fiserv during the third quarter worth approximately $40,000. Finally, Friedenthal Financial bought a new stake in shares of Fiserv during the fourth quarter worth approximately $49,000. 90.98% of the stock is owned by institutional investors.

Fiserv Stock Down 0.9 %

FI traded down $1.91 during trading hours on Friday, hitting $218.04. 4,456,911 shares of the company's stock were exchanged, compared to its average volume of 2,995,866. Fiserv, Inc. has a 1-year low of $145.98 and a 1-year high of $238.59. The stock's 50-day moving average is $218.31 and its two-hundred day moving average is $203.12. The stock has a market cap of $122.38 billion, a price-to-earnings ratio of 40.45, a PEG ratio of 1.52 and a beta of 0.93. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86.

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Fiserv (NYSE:FI - Get Free Report) last announced its earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, topping the consensus estimate of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. Sell-side analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its board has initiated a stock buyback program on Thursday, February 20th that permits the company to buyback 60,000,000 outstanding shares. This buyback authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the sale, the chief operating officer now directly owns 227,711 shares of the company's stock, valued at approximately $53,637,326.05. This represents 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. Insiders own 0.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FI. BMO Capital Markets boosted their price target on shares of Fiserv from $233.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Keefe, Bruyette & Woods boosted their price target on shares of Fiserv from $238.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. StockNews.com downgraded shares of Fiserv from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Compass Point assumed coverage on shares of Fiserv in a research note on Wednesday, November 20th. They set a "buy" rating and a $278.00 price target for the company. Finally, The Goldman Sachs Group boosted their price objective on shares of Fiserv from $208.00 to $231.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. Three investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $239.83.

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.