Kentucky Retirement Systems Sells 545 Shares of Fiserv, Inc. (NYSE:FI)

Kentucky Retirement Systems lessened its holdings in Fiserv, Inc. (NYSE:FI) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,563 shares of the business services provider’s stock after selling 545 shares during the period. Kentucky Retirement Systems’ holdings in Fiserv were worth $8,127,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Tandem Investment Advisors Inc. grew its stake in shares of Fiserv by 0.8% during the fourth quarter. Tandem Investment Advisors Inc. now owns 40,133 shares of the business services provider’s stock worth $8,244,000 after buying an additional 336 shares during the last quarter. Flossbach Von Storch SE acquired a new stake in shares of Fiserv during the 4th quarter valued at $214,000. Boston Financial Mangement LLC boosted its holdings in shares of Fiserv by 17.4% during the 4th quarter. Boston Financial Mangement LLC now owns 4,324 shares of the business services provider’s stock valued at $888,000 after acquiring an additional 642 shares in the last quarter. First Bank & Trust grew its position in Fiserv by 25.8% during the 4th quarter. First Bank & Trust now owns 2,350 shares of the business services provider’s stock worth $483,000 after acquiring an additional 482 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in Fiserv by 8.8% in the 4th quarter. Handelsbanken Fonder AB now owns 231,012 shares of the business services provider’s stock worth $47,454,000 after purchasing an additional 18,779 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

Fiserv Stock Performance

Shares of FI opened at $234.63 on Friday. Fiserv, Inc. has a 52 week low of $145.98 and a 52 week high of $238.00. 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 50 day moving average price of $213.26 and a two-hundred day moving average price of $197.74. The firm has a market capitalization of $133.48 billion, a P/E ratio of 43.53, a P/E/G ratio of 1.53 and a beta of 0.94.

Fiserv (NYSE:FI) last posted its quarterly earnings data 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 net margin of 15.31% and a return on equity of 17.93%. Equities analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its board has approved a share buyback program on Thursday, February 20th that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have weighed in on FI shares. Morgan Stanley boosted their target price on shares of Fiserv from $258.00 to $267.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Royal Bank of Canada boosted their price objective on shares of Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Tigress Financial raised their target price on Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Compass Point began coverage on Fiserv in a research report on Wednesday, November 20th. They issued a “buy” rating and a $278.00 price target on the stock. Finally, Mizuho increased their price target on Fiserv from $183.00 to $222.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Fiserv has an average rating of “Buy” and an average price target of $239.83.

Insiders Place Their Bets

In related news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the sale, the chief operating officer now directly owns 227,711 shares in the company, valued at approximately $53,637,326.05. This trade represents a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.75% of the stock is currently owned by insiders.

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.