South Dakota Investment Council Purchases New Position in Fiserv, Inc. $FI

South Dakota Investment Council acquired a new position in shares of Fiserv, Inc. (NYSE:FI) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 8,600 shares of the business services provider’s stock, valued at approximately $1,483,000.

Several other hedge funds have also made changes to their positions in FI. Nuveen LLC purchased a new position in shares of Fiserv during the first quarter valued at $1,722,584,000. JPMorgan Chase & Co. grew its holdings in Fiserv by 77.2% during the 1st quarter. JPMorgan Chase & Co. now owns 15,354,767 shares of the business services provider’s stock worth $3,390,793,000 after acquiring an additional 6,691,703 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Fiserv by 939.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,039,032 shares of the business services provider’s stock valued at $351,550,000 after purchasing an additional 1,842,784 shares during the period. Swedbank AB raised its holdings in shares of Fiserv by 366.0% in the 2nd quarter. Swedbank AB now owns 1,588,747 shares of the business services provider’s stock valued at $273,916,000 after purchasing an additional 1,247,801 shares in the last quarter. Finally, GQG Partners LLC bought a new position in shares of Fiserv during the first quarter valued at approximately $265,769,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Sanford C. Bernstein downgraded shares of Fiserv from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $205.00 to $80.00 in a research note on Thursday. Argus reaffirmed a “hold” rating on shares of Fiserv in a report on Thursday, October 30th. TD Cowen cut shares of Fiserv from a “buy” rating to a “hold” rating and set a $80.00 price target for the company. in a report on Thursday, October 30th. The Goldman Sachs Group cut shares of Fiserv from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $149.00 to $79.00 in a report on Thursday. Finally, Monness Crespi & Hardt raised shares of Fiserv from a “sell” rating to a “neutral” rating in a report on Monday, July 21st. Eleven research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $131.95.

Insider Activity

In related news, Director Lance M. Fritz bought 10,000 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were acquired at an average price of $65.18 per share, for a total transaction of $651,800.00. Following the completion of the transaction, the director directly owned 13,086 shares in the company, valued at $852,945.48. This trade represents a 324.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.74% of the stock is currently owned by company insiders.

Fiserv Stock Down 2.4%

Shares of NYSE FI opened at $65.08 on Tuesday. The company’s 50-day simple moving average is $124.76 and its 200-day simple moving average is $149.92. Fiserv, Inc. has a 52-week low of $64.52 and a 52-week high of $238.59. The firm has a market cap of $35.38 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 0.56 and a beta of 0.95. The company has a quick ratio of 1.09, a current ratio of 1.08 and a debt-to-equity ratio of 1.15.

Fiserv (NYSE:FI) last announced its earnings results on Tuesday, March 26th. The business services provider reported $1.91 earnings per share (EPS) for the quarter. Fiserv had a net margin of 17.05% and a return on equity of 19.47%. The business had revenue of $4.32 billion for the quarter. Equities analysts predict that Fiserv, Inc. will post 10.23 EPS 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.