Hartford Investment Management Co. Reduces Stock Position in Fiserv, Inc. (NYSE:FI)

Hartford Investment Management Co. decreased its position in Fiserv, Inc. (NYSE:FI) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,202 shares of the business services provider’s stock after selling 1,153 shares during the quarter. Hartford Investment Management Co.’s holdings in Fiserv were worth $7,231,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Sanders Capital LLC purchased a new stake in Fiserv in the third quarter worth about $764,543,000. FMR LLC boosted 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 valued at $1,696,341,000 after purchasing an additional 1,427,664 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its position in shares of Fiserv by 788.7% during the third quarter. Kovitz Investment Group Partners LLC now owns 632,554 shares of the business services provider’s stock valued at $109,700,000 after buying an additional 561,377 shares during the last quarter. Mizuho Securities USA LLC grew 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 acquiring an additional 558,774 shares during the period. Finally, Cardano Risk Management B.V. bought a new stake in Fiserv in the 4th quarter worth approximately $97,254,000. 90.98% of the stock is owned by institutional investors.

Fiserv Price Performance

NYSE FI opened at $229.97 on Wednesday. The company has a market cap of $130.83 billion, a PE ratio of 42.67, a P/E/G ratio of 1.52 and a beta of 0.94. Fiserv, Inc. has a 52-week low of $142.47 and a 52-week high of $233.26. 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 firm’s 50 day moving average price is $209.25 and its 200-day moving average price is $194.28.

Fiserv (NYSE:FI) last announced its earnings results on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, topping analysts’ consensus estimates 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 forecast that Fiserv, Inc. will post 10.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on FI shares. BMO Capital Markets boosted their price target on Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Oppenheimer lifted their price objective on shares of Fiserv from $214.00 to $239.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Morgan Stanley boosted their target price on Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. The Goldman Sachs Group increased their price objective on shares of Fiserv from $208.00 to $231.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Jefferies Financial Group lifted their target price on Fiserv from $195.00 to $200.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $239.83.

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.