California Public Employees Retirement System Has $460.93 Million Position in Fiserv, Inc. (NYSE:FI)

California Public Employees Retirement System trimmed its position in shares of Fiserv, Inc. (NYSE:FI) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,243,845 shares of the business services provider’s stock after selling 29,815 shares during the quarter. California Public Employees Retirement System’s holdings in Fiserv were worth $460,931,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Marshall Investment Management LLC acquired a new position in shares of Fiserv during the fourth quarter worth $29,000. Valley National Advisers Inc. bought a new position in Fiserv during the 4th quarter worth approximately $29,000. Compass Financial Services Inc bought a new stake in Fiserv during the fourth quarter valued at $31,000. Campbell Capital Management Inc. bought a new position in shares of Fiserv in the 4th quarter worth about $37,000. Finally, Knuff & Co LLC acquired a new position in shares of Fiserv in the 4th quarter valued at about $45,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Fiserv Stock Down 1.4 %

Shares of NYSE FI opened at $216.15 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The stock has a market capitalization of $121.32 billion, a PE ratio of 40.10, a P/E/G ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a one year low of $145.98 and a one year high of $238.59. The business’s fifty day moving average price is $222.00 and its 200-day moving average price is $207.91.

Fiserv (NYSE:FI) last released its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 EPS for the quarter, beating the consensus estimate of $2.48 by $0.03. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. On average, equities research analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its Board of Directors has initiated a share repurchase program on Thursday, February 20th that permits the company to repurchase 60,000,000 outstanding shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, COO Guy Chiarello sold 45,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $53,637,326.05. This represents a 16.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.75% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FI. Stephens lifted their target price on Fiserv from $255.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. The Goldman Sachs Group increased their target price on shares of Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Barclays lifted their price target on shares of Fiserv from $235.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Royal Bank of Canada increased their target price on Fiserv from $255.00 to $270.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, BMO Capital Markets raised their price objective on shares of Fiserv from $233.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Two 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, the company presently has a consensus rating of “Buy” and an average price target of $242.32.

About Fiserv

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.