New York State Teachers Retirement System Sells 36,949 Shares of Fiserv, Inc. (NYSE:FI)

New York State Teachers Retirement System trimmed its holdings in Fiserv, Inc. (NYSE:FI) by 6.4% in the third quarter, HoldingsChannel reports. The fund owned 543,710 shares of the business services provider’s stock after selling 36,949 shares during the period. New York State Teachers Retirement System’s holdings in Fiserv were worth $97,678,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Wellington Shields & Co. LLC bought a new stake in Fiserv in the first quarter worth $25,000. Family Firm Inc. bought a new stake in shares of Fiserv in the 2nd quarter valued at about $31,000. Clean Yield Group grew its position in Fiserv by 431.3% during the 3rd quarter. Clean Yield Group now owns 170 shares of the business services provider’s stock worth $31,000 after acquiring an additional 138 shares during the last quarter. ZRC Wealth Management LLC purchased a new position in Fiserv in the 1st quarter worth approximately $32,000. Finally, Cedar Mountain Advisors LLC lifted its position in Fiserv by 42.5% in the third quarter. Cedar Mountain Advisors LLC now owns 191 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Stock Up 0.4 %

Fiserv stock traded up $0.77 during mid-day trading on Wednesday, hitting $201.68. The company had a trading volume of 149,333 shares, compared to its average volume of 2,466,232. Fiserv, Inc. has a 12 month low of $113.11 and a 12 month high of $204.50. The company has a market capitalization of $114.74 billion, a PE ratio of 38.63, a price-to-earnings-growth ratio of 1.53 and a beta of 0.93. The stock’s 50 day moving average price is $182.01 and its two-hundred day moving average price is $163.46. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85.

Fiserv (NYSE:FI) last announced its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.04. Fiserv had a net margin of 15.22% and a return on equity of 17.10%. The company had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the previous year, the business posted $1.96 EPS. Fiserv’s revenue was up 7.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fiserv, Inc. will post 8.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FI has been the topic of several recent analyst reports. Tigress Financial raised their target price on shares of Fiserv from $190.00 to $244.00 and gave the stock a “buy” rating in a report on Tuesday. Susquehanna increased their target price on shares of Fiserv from $190.00 to $230.00 and gave the stock a “positive” rating in a report on Friday, October 18th. Jefferies Financial Group boosted their price target on Fiserv from $195.00 to $200.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Keefe, Bruyette & Woods increased their price objective on Fiserv from $178.00 to $184.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, UBS Group lifted their price objective on Fiserv from $185.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Fiserv has a consensus rating of “Moderate Buy” and a consensus price target of $207.25.

Insider Transactions at Fiserv

In related news, Director Doyle Simons sold 40,000 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $201.97, for a total transaction of $8,078,800.00. Following the sale, the director now directly owns 76,180 shares of the company’s stock, valued at $15,386,074.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP John Gibbons sold 18,890 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $168.21, for a total transaction of $3,177,486.90. Following the completion of the sale, the executive vice president now owns 28,323 shares in the company, valued at approximately $4,764,211.83. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Doyle Simons sold 40,000 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $201.97, for a total value of $8,078,800.00. Following the sale, the director now owns 76,180 shares of the company’s stock, valued at approximately $15,386,074.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 227,890 shares of company stock worth $40,934,217 over the last quarter. 0.75% of the stock is currently owned by insiders.

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.