Fiserv, Inc. (NYSE:FI) Shares Sold by Maryland State Retirement & Pension System

Key Points

• The Maryland State Retirement & Pension System reduced its holdings in Fiserv, Inc. by 13.4%, now owning 26,481 shares valued at $5.85 million.
• Fiserv's stock decreased by 1.1% recently, with a current share price around $132.54, experiencing a twelve-month range from $128.22 to $238.59.
• Several analysts have set new price targets for Fiserv, with Barclays rating it as "overweight" and a price target of $175.00, while others reduced their estimates significantly.

Maryland State Retirement & Pension System trimmed its holdings in Fiserv, Inc. (NYSE:FI - Free Report) by 13.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,481 shares of the business services provider's stock after selling 4,084 shares during the quarter. Maryland State Retirement & Pension System's holdings in Fiserv were worth $5,848,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Ironwood Investment Counsel LLC raised its position in shares of Fiserv by 1.3% in the first quarter. Ironwood Investment Counsel LLC now owns 39,611 shares of the business services provider's stock worth $8,747,000 after acquiring an additional 525 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Fiserv by 4.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,780,854 shares of the business services provider's stock worth $834,926,000 after acquiring an additional 160,069 shares during the period. ASR Vermogensbeheer N.V. acquired a new position in shares of Fiserv in the first quarter worth about $6,022,000. Citizens Financial Group Inc. RI raised its position in shares of Fiserv by 3.1% during the 1st quarter. Citizens Financial Group Inc. RI now owns 13,333 shares of the business services provider's stock worth $2,944,000 after purchasing an additional 400 shares during the last quarter. Finally, Provident Investment Management Inc. raised its position in shares of Fiserv by 0.5% during the 1st quarter. Provident Investment Management Inc. now owns 209,870 shares of the business services provider's stock worth $46,346,000 after purchasing an additional 1,033 shares during the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. BMO Capital Markets reduced their price target 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. Monness Crespi & Hardt raised shares of Fiserv from a "sell" rating to a "neutral" rating in a research note on Monday, July 21st. Jefferies Financial Group dropped their price objective on shares of Fiserv from $180.00 to $165.00 and set a "hold" rating for the company in a research note on Tuesday, May 27th. JPMorgan Chase & Co. dropped their price objective on shares of Fiserv from $210.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Finally, Tigress Financial upped their price objective on shares of Fiserv from $244.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $207.08.

Insider Buying and Selling

In other Fiserv news, insider Adam L. Rosman sold 2,512 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total transaction of $403,628.16. Following the sale, the insider directly owned 53,385 shares in the company, valued at $8,577,901.80. This represents a 4.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction that occurred 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 sale, the executive vice president owned 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 disclosure for this sale can be found here. 0.75% of the stock is owned by corporate insiders.

Fiserv Price Performance

Shares of NYSE:FI remained flat at $132.22 during mid-day trading on Tuesday. 1,025,009 shares of the company were exchanged, compared to its average volume of 4,467,146. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market cap of $71.87 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 0.87 and a beta of 0.91. The company has a 50-day moving average price of $159.40 and a 200-day moving average price of $189.43. Fiserv, Inc. has a 1 year low of $128.22 and a 1 year high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $2.47 earnings per share for the quarter, topping analysts' consensus estimates of $2.43 by $0.04. The firm had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.20 billion. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. The firm's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the company posted $2.13 EPS. On average, research analysts forecast that Fiserv, Inc. will post 10.23 earnings per share 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.