Teacher Retirement System of Texas Boosts Stake in Fiserv, Inc. (NYSE:FI)

Teacher Retirement System of Texas grew its stake in Fiserv, Inc. (NYSE:FI) by 17.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 182,010 shares of the business services provider’s stock after buying an additional 27,478 shares during the period. Teacher Retirement System of Texas’ holdings in Fiserv were worth $37,388,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Soros Capital Management LLC raised its holdings in shares of Fiserv by 71.7% in the third quarter. Soros Capital Management LLC now owns 54,797 shares of the business services provider’s stock worth $9,844,000 after buying an additional 22,884 shares during the last quarter. Czech National Bank raised its holdings in shares of Fiserv by 5.2% in the fourth quarter. Czech National Bank now owns 123,353 shares of the business services provider’s stock worth $25,339,000 after buying an additional 6,072 shares during the last quarter. Chiron Investment Management LLC purchased a new position in shares of Fiserv in the third quarter worth $4,709,000. Trust Co. of Vermont raised its holdings in shares of Fiserv by 170.4% in the fourth quarter. Trust Co. of Vermont now owns 6,839 shares of the business services provider’s stock worth $1,405,000 after buying an additional 4,310 shares during the last quarter. Finally, Cardano Risk Management B.V. purchased a new position in shares of Fiserv during the fourth quarter worth $97,254,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Fiserv Stock Up 0.6 %

Shares of NYSE FI opened at $221.77 on Friday. The company’s 50-day simple moving average is $220.11 and its 200-day simple moving average is $205.70. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. The firm has a market cap of $124.48 billion, a price-to-earnings ratio of 41.15, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a 52-week low of $145.98 and a 52-week high of $238.59.

Fiserv (NYSE:FI) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share for the quarter, topping 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%. Equities analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its Board of Directors has approved a share repurchase program on Thursday, February 20th that permits the company to buyback 60,000,000 outstanding shares. This buyback authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. BMO Capital Markets raised their target price on shares of Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Keefe, Bruyette & Woods raised their target price on shares of Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Oppenheimer raised their target price on shares of Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Finally, Seaport Res Ptn raised shares of Fiserv from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $239.83.

Fiserv Profile

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.