PGGM Investments Takes Position in Fiserv, Inc. (NYSE:FI)

PGGM Investments purchased a new stake in Fiserv, Inc. (NYSE:FI) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 49,521 shares of the business services provider’s stock, valued at approximately $6,578,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Fiserv by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 50,506,740 shares of the business services provider’s stock worth $5,705,241,000 after buying an additional 789,232 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Fiserv by 2.7% during the 3rd quarter. Northern Trust Corp now owns 6,416,853 shares of the business services provider’s stock worth $724,848,000 after buying an additional 168,286 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Fiserv by 5.2% during the 3rd quarter. Invesco Ltd. now owns 5,207,615 shares of the business services provider’s stock worth $588,252,000 after buying an additional 258,036 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of Fiserv by 1.8% during the 3rd quarter. California Public Employees Retirement System now owns 3,340,624 shares of the business services provider’s stock worth $377,357,000 after buying an additional 60,176 shares during the last quarter. Finally, Pittenger & Anderson Inc. acquired a new stake in shares of Fiserv during the 4th quarter worth approximately $400,079,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Fiserv Stock Performance

FI traded up $2.60 on Friday, reaching $155.89. The company had a trading volume of 3,196,489 shares, compared to its average volume of 2,315,910. Fiserv, Inc. has a 1 year low of $109.11 and a 1 year high of $159.99. The stock has a market capitalization of $91.21 billion, a PE ratio of 29.14, a P/E/G ratio of 1.26 and a beta of 0.91. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.81. The stock has a 50-day moving average price of $152.54 and a 200-day moving average price of $137.90.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Tuesday, April 23rd. The business services provider reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. Fiserv had a net margin of 16.68% and a return on equity of 15.73%. The firm had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same period in the previous year, the company earned $1.58 earnings per share. Fiserv’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, research analysts forecast that Fiserv, Inc. will post 8.69 EPS for the current fiscal year.

Insider Activity

In other news, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $149.53, for a total value of $3,588,720.00. Following the completion of the sale, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at $24,477,911.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 111,575 shares of company stock valued at $17,022,387. Insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FI. Mizuho restated a “buy” rating and set a $156.00 price target on shares of Fiserv in a report on Wednesday, March 27th. TD Cowen raised their price target on shares of Fiserv from $167.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday. KeyCorp lifted their target price on shares of Fiserv from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. BNP Paribas upgraded shares of Fiserv from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 10th. Finally, Oppenheimer upgraded shares of Fiserv from a “market perform” rating to an “outperform” rating and set a $168.00 target price for the company in a report on Thursday, January 11th. Six investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, Fiserv has a consensus rating of “Moderate Buy” and an average price target of $164.33.

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.