USS Investment Management Ltd Sells 4,500 Shares of Fiserv, Inc. (NYSE:FI)

USS Investment Management Ltd decreased its stake in shares of Fiserv, Inc. (NYSE:FI) by 4.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,970 shares of the business services provider’s stock after selling 4,500 shares during the quarter. USS Investment Management Ltd’s holdings in Fiserv were worth $19,523,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in FI. Root Financial Partners LLC purchased a new stake in Fiserv in the fourth quarter worth about $257,000. Principal Financial Group Inc. increased its holdings in Fiserv by 0.8% during the fourth quarter. Principal Financial Group Inc. now owns 929,193 shares of the business services provider’s stock valued at $190,875,000 after buying an additional 7,183 shares during the period. USAdvisors Wealth Management LLC bought a new position in Fiserv in the fourth quarter worth approximately $322,000. Centricity Wealth Management LLC purchased a new stake in Fiserv during the fourth quarter worth $79,000. Finally, Addenda Capital Inc. boosted its position in Fiserv by 5.4% during the 4th quarter. Addenda Capital Inc. now owns 75,355 shares of the business services provider’s stock valued at $15,479,000 after acquiring an additional 3,879 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on FI. KeyCorp boosted their price target on Fiserv from $250.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Piper Sandler set a $218.00 price target on shares of Fiserv in a research report on Friday, April 25th. Citigroup lowered their price target on shares of Fiserv from $267.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, April 25th. The Goldman Sachs Group decreased their target price on shares of Fiserv from $223.00 to $194.00 and set a “buy” rating for the company in a research report on Monday. Finally, Redburn Atlantic restated a “sell” rating and issued a $150.00 target price on shares of Fiserv in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Fiserv currently has a consensus rating of “Moderate Buy” and an average target price of $225.80.

Insider Buying and Selling at Fiserv

In other news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total transaction of $10,599,750.00. Following the completion of the transaction, the chief operating officer now directly owns 227,711 shares of the company’s stock, valued at $53,637,326.05. The trade was a 16.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.74% of the stock is currently owned by corporate insiders.

Fiserv Stock Performance

Shares of NYSE FI opened at $166.01 on Wednesday. The company has a 50 day simple moving average of $200.54 and a two-hundred day simple moving average of $209.88. The stock has a market cap of $92.04 billion, a price-to-earnings ratio of 30.80, a PEG ratio of 1.52 and a beta of 0.97. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. Fiserv, Inc. has a 12 month low of $146.25 and a 12 month high of $238.59.

Fiserv (NYSE:FI) last issued its earnings results on Thursday, April 24th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.06. Fiserv had a net margin of 15.31% and a return on equity of 17.93%. The firm had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter last year, the company posted $1.88 earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. As a group, analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Fiserv declared that its board has authorized a share repurchase plan on Thursday, February 20th that permits the company to repurchase 60,000,000 shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

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.