Fiserv, Inc. (NYSE:FI) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 2.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 126,123 shares of the business services provider's stock after selling 2,945 shares during the quarter. Retirement Systems of Alabama's holdings in Fiserv were worth $22,658,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FI. Sanders Capital LLC acquired a new stake in Fiserv in the 3rd quarter worth about $764,543,000. FMR LLC increased 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 valued at $1,696,341,000 after buying an additional 1,427,664 shares during the period. Maj Invest Holding A S acquired a new position in shares of Fiserv in the 3rd quarter valued at approximately $172,993,000. Kovitz Investment Group Partners LLC lifted its holdings in shares of 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 worth $109,700,000 after acquiring an additional 561,377 shares during the period. Finally, Mizuho Securities USA LLC boosted its position in shares of 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 worth $108,488,000 after acquiring an additional 558,774 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors.

Fiserv Price Performance

Shares of FI stock traded down $0.19 during trading hours on Friday, hitting $204.66. 2,536,167 shares of the company's stock were exchanged, compared to its average volume of 2,530,050. The business's 50 day simple moving average is $205.80 and its 200-day simple moving average is $177.16. Fiserv, Inc. has a 12-month low of $131.41 and a 12-month high of $223.23. The company has a market capitalization of $116.43 billion, a PE ratio of 39.36, a PEG ratio of 1.56 and a beta of 0.93. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, beating analysts' consensus estimates of $2.26 by $0.04. The company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $4.90 billion. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. The firm's revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.96 earnings per share. On average, equities research analysts anticipate that Fiserv, Inc. will post 8.77 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FI shares. Citigroup lifted their target price on Fiserv from $187.00 to $226.00 in a report on Tuesday, October 22nd. Robert W. Baird boosted their price target on shares of Fiserv from $186.00 to $200.00 and gave the stock an "outperform" rating in a report on Monday, September 23rd. Susquehanna boosted their target price on shares of Fiserv from $190.00 to $230.00 and gave the company a "positive" rating in a research note on Friday, October 18th. Morgan Stanley raised their price target on shares of Fiserv from $177.00 to $220.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. boosted their target price on Fiserv from $199.00 to $227.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $217.50.

Insider Activity

In related news, CEO Frank Bisignano sold 145,000 shares of Fiserv stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $177.37, for a total transaction of $25,718,650.00. Following the sale, the chief executive officer now directly owns 2,965,084 shares in the company, valued at $525,916,949.08. The trade was a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Kenneth Best sold 20,821 shares of the firm's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $214.61, for a total value of $4,468,394.81. Following the completion of the sale, the chief accounting officer now directly owns 38,771 shares of the company's stock, valued at approximately $8,320,644.31. This trade represents a 34.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 235,821 shares of company stock valued at $44,299,745. 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.