Teacher Retirement System of Texas Raises Stake in Fiserv, Inc. (NYSE:FI)

Teacher Retirement System of Texas raised its position in Fiserv, Inc. (NYSE:FI - Free Report) by 17.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 182,010 shares of the business services provider's stock after purchasing an additional 27,478 shares during the quarter. Teacher Retirement System of Texas' holdings in Fiserv were worth $37,388,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Marshall Investment Management LLC purchased a new stake in shares of Fiserv in the 4th quarter valued at $29,000. Valley National Advisers Inc. acquired a new position in Fiserv in the 4th quarter valued at about $29,000. Compass Financial Services Inc purchased a new stake in Fiserv during the fourth quarter worth about $31,000. Campbell Capital Management Inc. acquired a new stake in shares of Fiserv during the fourth quarter worth about $37,000. Finally, Knuff & Co LLC purchased a new position in shares of Fiserv in the fourth quarter valued at approximately $45,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Stock Performance

Fiserv stock traded up $0.86 during midday trading on Tuesday, hitting $222.65. 1,935,274 shares of the company's stock were exchanged, compared to its average volume of 2,519,313. The firm's 50 day simple moving average is $220.87 and its 200 day simple moving average is $206.81. Fiserv, Inc. has a 12-month low of $145.98 and a 12-month high of $238.59. 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 stock has a market cap of $124.97 billion, a price-to-earnings ratio of 41.31, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

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Fiserv (NYSE:FI - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) 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%. Equities research analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv declared that its Board of Directors has initiated a share repurchase program on Thursday, February 20th that allows the company to buyback 60,000,000 shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. BMO Capital Markets upped their target price 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. Stephens increased their price objective on Fiserv from $255.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Seaport Res Ptn upgraded Fiserv from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 14th. KeyCorp upped their price target on Fiserv from $250.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Finally, StockNews.com cut Fiserv from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Three analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Fiserv currently has an average rating of "Moderate Buy" and an average target price of $239.83.

Insider Activity

In related news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 227,711 shares of the company's stock, valued at $53,637,326.05. This represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.75% of the company's stock.

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.