California State Teachers Retirement System Cuts Position in Fiserv, Inc. (NYSE:FI)

California State Teachers Retirement System lowered its stake in shares of Fiserv, Inc. (NYSE:FI - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 935,981 shares of the business services provider's stock after selling 42,984 shares during the quarter. California State Teachers Retirement System owned about 0.17% of Fiserv worth $192,269,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Marshall Investment Management LLC purchased a new stake in shares of Fiserv during the 4th quarter worth approximately $29,000. Valley National Advisers Inc. acquired a new position in shares of Fiserv during the 4th quarter worth approximately $29,000. Compass Financial Services Inc acquired a new position in shares of Fiserv during the 4th quarter worth approximately $31,000. Campbell Capital Management Inc. acquired a new position in shares of Fiserv during the 4th quarter worth approximately $37,000. Finally, Quarry LP raised its position in shares of Fiserv by 51.9% during the 4th quarter. Quarry LP now owns 205 shares of the business services provider's stock worth $42,000 after purchasing an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company's stock.

Fiserv Stock Down 0.3 %

FI stock traded down $0.64 during midday trading on Wednesday, reaching $184.65. 3,470,725 shares of the company's stock traded hands, compared to its average volume of 2,811,873. The company has a market cap of $103.14 billion, a price-to-earnings ratio of 34.26, a P/E/G ratio of 1.52 and a beta of 0.91. The firm's fifty day moving average price is $212.97 and its 200-day moving average price is $211.66. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. Fiserv, Inc. has a 52 week low of $146.25 and a 52 week high of $238.59.

Fiserv (NYSE:FI - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.06. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.86 billion. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.88 EPS. As a group, sell-side analysts forecast that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv announced that its board has initiated a share repurchase program on Thursday, February 20th that authorizes the company to buyback 60,000,000 shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Redburn Atlantic restated a "sell" rating and set a $150.00 price objective on shares of Fiserv in a research report on Thursday, April 17th. The Goldman Sachs Group raised Fiserv from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $246.00 to $260.00 in a research report on Wednesday, April 2nd. UBS Group reduced their price target on Fiserv from $265.00 to $255.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Susquehanna lowered their price target on Fiserv from $250.00 to $240.00 and set a "positive" rating for the company in a report on Friday, April 25th. Finally, KeyCorp upped their price objective on Fiserv from $250.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Fiserv has an average rating of "Moderate Buy" and an average price target of $230.00.

Insider Activity at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the 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 owns 227,711 shares in the company, valued at $53,637,326.05. This represents a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.75% of the stock is currently owned by corporate insiders.

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.