State of New Jersey Common Pension Fund D Lowers Stake in Fiserv, Inc. (NYSE:FI)

State of New Jersey Common Pension Fund D decreased its position in shares of Fiserv, Inc. (NYSE:FI) by 37.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 216,715 shares of the business services provider’s stock after selling 130,797 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Fiserv were worth $32,299,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Mitchell Sinkler & Starr PA acquired a new position in shares of Fiserv during the 2nd quarter valued at about $279,000. Wellington Shields & Co. LLC grew its holdings in Fiserv by 143.3% in the second quarter. Wellington Shields & Co. LLC now owns 382 shares of the business services provider’s stock valued at $57,000 after purchasing an additional 225 shares during the period. LPL Financial LLC raised its stake in Fiserv by 9.0% during the second quarter. LPL Financial LLC now owns 362,647 shares of the business services provider’s stock worth $54,049,000 after purchasing an additional 30,080 shares during the period. AdvisorShares Investments LLC boosted its holdings in shares of Fiserv by 7.4% in the 2nd quarter. AdvisorShares Investments LLC now owns 44,047 shares of the business services provider’s stock valued at $6,481,000 after purchasing an additional 3,026 shares during the last quarter. Finally, AMJ Financial Wealth Management grew its stake in shares of Fiserv by 34.3% during the 2nd quarter. AMJ Financial Wealth Management now owns 48,947 shares of the business services provider’s stock valued at $7,295,000 after buying an additional 12,511 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Stock Performance

Shares of FI stock opened at $173.66 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $101.61 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 1.37 and a beta of 0.93. Fiserv, Inc. has a one year low of $109.11 and a one year high of $175.47. The company’s 50-day simple moving average is $163.20 and its 200-day simple moving average is $155.64.

Fiserv (NYSE:FI) last issued its earnings results on Wednesday, July 24th. The business services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.10 by $0.03. Fiserv had a return on equity of 16.41% and a net margin of 17.45%. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $4.81 billion. During the same quarter last year, the firm earned $1.81 EPS. The business’s revenue was up 7.4% on a year-over-year basis. Equities analysts anticipate that Fiserv, Inc. will post 8.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Fiserv from $176.00 to $199.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. BMO Capital Markets lifted their price objective on Fiserv from $168.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. B. Riley boosted their target price on Fiserv from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Citigroup upgraded shares of Fiserv to a “strong-buy” rating in a report on Thursday, July 25th. Finally, TD Cowen boosted their price objective on shares of Fiserv from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Six research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Fiserv currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.32.

Insiders Place Their Bets

In other news, COO Guy Chiarello sold 24,000 shares of Fiserv stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $148.47, for a total value of $3,563,280.00. Following the completion of the transaction, the chief operating officer now directly owns 163,699 shares of the company’s stock, valued at approximately $24,304,390.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP John Gibbons sold 18,890 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 28,323 shares in the company, valued at approximately $4,764,211.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Guy Chiarello sold 24,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $148.47, for a total value of $3,563,280.00. Following the completion of the sale, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $24,304,390.53. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,890 shares of company stock valued at $14,416,687. Company insiders own 0.75% of the company’s stock.

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.