Retirement Systems of Alabama Sells 2,945 Shares of Fiserv, Inc. (NYSE:FI)

Retirement Systems of Alabama trimmed its holdings in Fiserv, Inc. (NYSE:FI) by 2.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,123 shares of the business services provider’s stock after selling 2,945 shares during the period. Retirement Systems of Alabama’s holdings in Fiserv were worth $22,658,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of FI. Blue Trust Inc. grew its holdings in Fiserv by 91.3% during the second quarter. Blue Trust Inc. now owns 1,848 shares of the business services provider’s stock valued at $295,000 after purchasing an additional 882 shares during the last quarter. Gradient Investments LLC grew its stake in Fiserv by 14.0% in the 2nd quarter. Gradient Investments LLC now owns 767 shares of the business services provider’s stock valued at $114,000 after buying an additional 94 shares during the last quarter. Western Wealth Management LLC raised its holdings in Fiserv by 4.9% in the 2nd quarter. Western Wealth Management LLC now owns 2,116 shares of the business services provider’s stock worth $315,000 after acquiring an additional 99 shares during the period. MONECO Advisors LLC lifted its position in Fiserv by 9.0% during the 2nd quarter. MONECO Advisors LLC now owns 3,512 shares of the business services provider’s stock worth $523,000 after acquiring an additional 289 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in Fiserv by 10.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 3,325 shares of the business services provider’s stock valued at $496,000 after acquiring an additional 323 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Morgan Stanley lifted their price objective on Fiserv from $177.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. upped their price target on Fiserv from $199.00 to $227.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. BTIG Research initiated coverage on shares of Fiserv in a research note on Wednesday, August 28th. They issued a “buy” rating and a $200.00 price objective on the stock. Jefferies Financial Group upped their target price on shares of Fiserv from $195.00 to $200.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Finally, Tigress Financial raised their price target on shares of Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $217.50.

Insiders Place Their Bets

In related news, CAO Kenneth Best sold 20,821 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $214.61, for a total value of $4,468,394.81. Following the completion of the transaction, the chief accounting officer now owns 38,771 shares in the company, valued at $8,320,644.31. The trade was a 34.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Doyle Simons sold 40,000 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total value of $8,078,800.00. Following the completion of the transaction, the director now owns 76,180 shares in the company, valued at $15,386,074.60. The trade was a 34.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 235,821 shares of company stock valued at $44,299,745. 0.75% of the stock is currently owned by corporate insiders.

Fiserv Trading Down 0.1 %

Shares of FI stock opened at $204.66 on Friday. The company has a market capitalization of $116.43 billion, a P/E ratio of 39.36, a P/E/G ratio of 1.56 and a beta of 0.93. Fiserv, Inc. has a 12-month low of $131.41 and a 12-month high of $223.23. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.85. The firm has a 50-day moving average price of $205.80 and a 200 day moving average price of $177.16.

Fiserv (NYSE:FI) last posted its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (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 analysts’ expectations of $4.90 billion. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. Fiserv’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.96 earnings per share. Research analysts forecast that Fiserv, Inc. will post 8.77 earnings per share for the current fiscal year.

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.