State of Alaska Department of Revenue Cuts Stake in Fiserv, Inc. (NYSE:FI)

State of Alaska Department of Revenue cut its stake in shares of Fiserv, Inc. (NYSE:FI) by 2.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 74,613 shares of the business services provider’s stock after selling 2,020 shares during the period. State of Alaska Department of Revenue’s holdings in Fiserv were worth $15,326,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FI. Sanders Capital LLC acquired a new position in shares of Fiserv in the 3rd quarter valued at about $764,543,000. FMR LLC increased its stake in Fiserv by 17.8% during the 3rd quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock worth $1,696,341,000 after buying an additional 1,427,664 shares during the period. Maj Invest Holding A S acquired a new stake in shares of Fiserv during the third quarter valued at about $172,993,000. Kovitz Investment Group Partners LLC increased its holdings in 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 purchasing an additional 561,377 shares during the last quarter. Finally, Mizuho Securities USA LLC increased its stake in shares of Fiserv by 1,238.6% in the third quarter. Mizuho Securities USA LLC now owns 603,887 shares of the business services provider’s stock worth $108,488,000 after buying an additional 558,774 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Trading Up 6.8 %

Shares of NYSE:FI opened at $228.83 on Thursday. Fiserv, Inc. has a 1 year low of $137.13 and a 1 year high of $231.61. The firm has a fifty day moving average price of $208.45 and a 200 day moving average price of $192.25. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $130.19 billion, a PE ratio of 44.01, a P/E/G ratio of 1.42 and a beta of 0.94.

Fiserv (NYSE:FI) last issued its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a return on equity of 17.10% and a net margin of 15.22%. Analysts expect that Fiserv, Inc. will post 8.77 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Kenneth Best sold 20,821 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer now owns 38,771 shares in the company, valued at approximately $8,320,644.31. This trade represents a 34.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.75% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Compass Point assumed coverage on Fiserv in a report on Wednesday, November 20th. They set a “buy” rating and a $278.00 target price on the stock. Jefferies Financial Group raised their price target on Fiserv from $195.00 to $200.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Wells Fargo & Company upped their price objective on shares of Fiserv from $220.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. boosted their price target on shares of Fiserv from $199.00 to $227.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Seaport Res Ptn upgraded shares of Fiserv from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $224.00.

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.