Kentucky Retirement Systems Sells 3,983 Shares of Fiserv, Inc. (NYSE:FI)

Kentucky Retirement Systems lowered its position in shares of Fiserv, Inc. (NYSE:FI) by 9.0% in the third quarter, HoldingsChannel reports. The fund owned 40,108 shares of the business services provider’s stock after selling 3,983 shares during the period. Kentucky Retirement Systems’ holdings in Fiserv were worth $7,205,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Quent Capital LLC boosted its stake in shares of Fiserv by 5.9% in the 1st quarter. Quent Capital LLC now owns 1,211 shares of the business services provider’s stock valued at $194,000 after purchasing an additional 68 shares during the last quarter. Nwam LLC acquired a new position in shares of Fiserv in the 1st quarter valued at $239,000. M&G Plc bought a new position in shares of Fiserv in the 1st quarter worth $10,068,000. Acadian Asset Management LLC increased its holdings in Fiserv by 377.3% in the first quarter. Acadian Asset Management LLC now owns 56,645 shares of the business services provider’s stock valued at $9,047,000 after purchasing an additional 44,776 shares during the last quarter. Finally, Ironsides Asset Advisors LLC lifted its stake in Fiserv by 11.6% in the first quarter. Ironsides Asset Advisors LLC now owns 3,695 shares of the business services provider’s stock valued at $591,000 after buying an additional 385 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FI. Jefferies Financial Group upped their price target on Fiserv from $195.00 to $200.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Keefe, Bruyette & Woods boosted their price objective on shares of Fiserv from $178.00 to $184.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Mizuho boosted their price target on shares of Fiserv from $183.00 to $222.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Susquehanna raised their price objective on Fiserv from $190.00 to $230.00 and gave the company a “positive” rating in a report on Friday, October 18th. Finally, Oppenheimer assumed coverage on Fiserv in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $203.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.25.

Insider Buying and Selling at Fiserv

In other news, CAO Kenneth Best sold 20,821 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $8,320,644.31. This represents a 34.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Gibbons sold 18,890 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the completion of the sale, the executive vice president now owns 28,323 shares in the company, valued at approximately $4,764,211.83. The trade was a 40.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,711 shares of company stock worth $47,477,232 over the last three months. Corporate insiders own 0.75% of the company’s stock.

Fiserv Stock Performance

FI opened at $210.92 on Friday. The firm has a market cap of $120.00 billion, a P/E ratio of 40.56, a price-to-earnings-growth ratio of 1.63 and a beta of 0.92. The business’s fifty day moving average is $191.36 and its 200-day moving average is $168.43. Fiserv, Inc. has a 52-week low of $121.86 and a 52-week high of $215.50. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.07 and a current ratio of 1.07.

Fiserv (NYSE:FI) last released its earnings results on Tuesday, October 22nd. The business services provider reported $2.30 EPS for the quarter, beating the consensus estimate of $2.26 by $0.04. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period last year, the firm earned $1.96 EPS. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. Sell-side analysts expect that Fiserv, Inc. will post 8.77 EPS for the current fiscal year.

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.