Canada Pension Plan Investment Board Has $17.21 Million Stake in Fiserv, Inc. (NYSE:FI)

Canada Pension Plan Investment Board decreased its position in shares of Fiserv, Inc. (NYSE:FI) by 16.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 115,481 shares of the business services provider’s stock after selling 23,337 shares during the period. Canada Pension Plan Investment Board’s holdings in Fiserv were worth $17,211,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of FI. Norden Group LLC bought a new position in shares of Fiserv in the 1st quarter worth about $2,359,000. BlueSpruce Investments LP bought a new position in shares of Fiserv in the 4th quarter worth about $646,368,000. ORG Partners LLC raised its position in shares of Fiserv by 3,016.0% in the 2nd quarter. ORG Partners LLC now owns 3,303 shares of the business services provider’s stock worth $486,000 after acquiring an additional 3,197 shares in the last quarter. TD Asset Management Inc bought a new position in shares of Fiserv in the 4th quarter worth about $39,137,000. Finally, ZRC Wealth Management LLC bought a new position in shares of Fiserv in the 1st quarter worth about $32,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FI shares. BMO Capital Markets boosted their target price on Fiserv from $168.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods boosted their target price on Fiserv from $178.00 to $184.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. William Blair raised Fiserv to a “strong-buy” rating in a research report on Wednesday, July 24th. Royal Bank of Canada boosted their target price on Fiserv from $180.00 to $183.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Morgan Stanley raised Fiserv from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $154.00 to $175.00 in a report on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $174.32.

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 24,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $154.86, for a total transaction of $3,716,640.00. Following the sale, the chief operating officer now owns 163,699 shares of the company’s stock, valued at approximately $25,350,427.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP John Gibbons sold 18,890 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $168.21, for a total value of $3,177,486.90. Following the transaction, the executive vice president now owns 28,323 shares of the company’s stock, valued at $4,764,211.83. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Guy Chiarello sold 24,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $154.86, for a total transaction of $3,716,640.00. Following the completion of the transaction, the chief operating officer now directly owns 163,699 shares in the company, valued at approximately $25,350,427.14. The disclosure for this sale can be found here. Insiders have sold 66,890 shares of company stock valued at $10,853,407 in the last 90 days. 0.75% of the stock is currently owned by company insiders.

Fiserv Price Performance

Fiserv stock opened at $177.61 on Monday. The business’s 50 day simple moving average is $166.23 and its 200 day simple moving average is $156.83. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85. Fiserv, Inc. has a 12 month low of $109.11 and a 12 month high of $178.89. The company has a market cap of $103.92 billion, a price-to-earnings ratio of 33.20, a PEG ratio of 1.38 and a beta of 0.93.

Fiserv (NYSE:FI) last issued its earnings results on Wednesday, July 24th. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Fiserv had a net margin of 17.45% and a return on equity of 16.41%. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $4.81 billion. During the same quarter in the previous year, the firm posted $1.81 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. Sell-side analysts forecast that Fiserv, Inc. will post 8.74 EPS for the current year.

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.