Illinois Municipal Retirement Fund Buys 2,453 Shares of Fiserv, Inc. (NYSE:FI)

Illinois Municipal Retirement Fund boosted its stake in Fiserv, Inc. (NYSE:FI) by 9.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,054 shares of the business services provider’s stock after acquiring an additional 2,453 shares during the period. Illinois Municipal Retirement Fund’s holdings in Fiserv were worth $5,968,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FI. Catalina Capital Group LLC raised its holdings in shares of Fiserv by 2.3% in the 4th quarter. Catalina Capital Group LLC now owns 2,160 shares of the business services provider’s stock worth $444,000 after purchasing an additional 48 shares during the period. Mount Yale Investment Advisors LLC raised its stake in shares of Fiserv by 1.2% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 4,126 shares of the business services provider’s stock valued at $848,000 after buying an additional 50 shares during the period. Hemington Wealth Management lifted its position in shares of Fiserv by 6.1% during the 4th quarter. Hemington Wealth Management now owns 864 shares of the business services provider’s stock valued at $177,000 after buying an additional 50 shares during the last quarter. Wealthcare Advisory Partners LLC grew its stake in shares of Fiserv by 3.0% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 1,752 shares of the business services provider’s stock worth $360,000 after acquiring an additional 51 shares during the period. Finally, Optas LLC increased its holdings in Fiserv by 1.7% in the 3rd quarter. Optas LLC now owns 3,216 shares of the business services provider’s stock worth $578,000 after acquiring an additional 54 shares during the last quarter. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FI has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on shares of Fiserv from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Keefe, Bruyette & Woods upped their price target on shares of Fiserv from $238.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. The Goldman Sachs Group raised their price objective on shares of Fiserv from $208.00 to $231.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Compass Point began coverage on shares of Fiserv in a report on Wednesday, November 20th. They set a “buy” rating and a $278.00 target price on the stock. Finally, Seaport Res Ptn raised Fiserv from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $239.83.

Insiders Place Their Bets

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $235.55, for a total value of $10,599,750.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.75% of the stock is owned by insiders.

Fiserv Stock Performance

NYSE FI opened at $229.58 on Thursday. Fiserv, Inc. has a 52-week low of $145.98 and a 52-week high of $237.99. The company has a fifty day moving average of $215.50 and a 200-day moving average of $200.07. The company has a market capitalization of $128.86 billion, a P/E ratio of 42.59, a P/E/G ratio of 1.52 and a beta of 0.94. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.06.

Fiserv (NYSE:FI) last issued its quarterly earnings results on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. As a group, equities research analysts predict that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv announced that its board has authorized a share repurchase plan on Thursday, February 20th that authorizes the company to repurchase 60,000,000 shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is 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.