State of Alaska Department of Revenue Has $16.87 Million Holdings in Fiserv, Inc. (NYSE:FI)

State of Alaska Department of Revenue raised its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 2.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,408 shares of the business services provider's stock after acquiring an additional 1,795 shares during the period. State of Alaska Department of Revenue's holdings in Fiserv were worth $16,872,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its position in Fiserv by 0.8% during the 4th quarter. Principal Financial Group Inc. now owns 929,193 shares of the business services provider's stock valued at $190,875,000 after purchasing an additional 7,183 shares during the period. Centricity Wealth Management LLC bought a new position in shares of Fiserv during the fourth quarter worth about $79,000. American National Bank & Trust grew its position in shares of Fiserv by 2.4% during the first quarter. American National Bank & Trust now owns 85,838 shares of the business services provider's stock worth $18,956,000 after acquiring an additional 1,983 shares during the last quarter. Evercore Wealth Management LLC acquired a new stake in shares of Fiserv in the 4th quarter worth about $54,981,000. Finally, Union Bancaire Privee UBP SA bought a new stake in Fiserv in the 4th quarter valued at about $11,330,000. 90.98% of the stock is owned by institutional investors.

Fiserv Trading Down 1.4%

Fiserv stock traded down $2.25 during midday trading on Thursday, reaching $161.19. The stock had a trading volume of 5,640,817 shares, compared to its average volume of 3,281,100. Fiserv, Inc. has a twelve month low of $146.46 and a twelve month high of $238.59. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $89.37 billion, a price-to-earnings ratio of 28.48, a PEG ratio of 1.00 and a beta of 0.90. The firm's fifty day simple moving average is $178.99 and its two-hundred day simple moving average is $202.49.

Fiserv (NYSE:FI - Get Free Report) last issued its earnings results on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, topping the consensus estimate of $2.08 by $0.06. The business had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.86 billion. Fiserv had a return on equity of 18.74% and a net margin of 15.68%. Fiserv's revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.88 earnings per share. Equities analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 20th that allows the company to buyback 60,000,000 outstanding shares. This buyback authorization allows the business services provider to buy shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have commented on the stock. BMO Capital Markets decreased their target price on shares of Fiserv from $254.00 to $232.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Tigress Financial raised their target price on Fiserv from $244.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Mizuho set a $200.00 price target on Fiserv in a research report on Thursday, May 15th. Wall Street Zen initiated coverage on Fiserv in a research note on Sunday, March 23rd. They issued a "buy" rating for the company. Finally, Jefferies Financial Group cut their price objective on shares of Fiserv from $180.00 to $165.00 and set a "hold" rating on the stock in a research note on Tuesday, May 27th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $221.23.

Insider Transactions at Fiserv

In related news, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total transaction of $904,320.00. Following the completion of the sale, the executive vice president now directly owns 25,385 shares in the company, valued at approximately $4,061,600. This trade represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adam L. Rosman sold 2,512 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $160.68, for a total value of $403,628.16. Following the completion of the transaction, the insider now directly owns 53,385 shares in the company, valued at approximately $8,577,901.80. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.74% of the stock is 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.