New York Life Investment Management LLC Has $17.37 Million Stock Position in Fiserv, Inc. (NYSE:FI)

New York Life Investment Management LLC lessened its stake in Fiserv, Inc. (NYSE:FI) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,577 shares of the business services provider’s stock after selling 794 shares during the quarter. New York Life Investment Management LLC’s holdings in Fiserv were worth $17,374,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. FMR LLC increased its holdings in shares of Fiserv by 17.8% in the third quarter. FMR LLC now owns 9,442,476 shares of the business services provider’s stock valued at $1,696,341,000 after purchasing an additional 1,427,664 shares in the last quarter. Sanders Capital LLC bought a new position in Fiserv in the 3rd quarter valued at $764,543,000. Bank of New York Mellon Corp increased its stake in shares of Fiserv by 4.7% in the 4th quarter. Bank of New York Mellon Corp now owns 3,711,072 shares of the business services provider’s stock valued at $762,328,000 after buying an additional 164,949 shares during the period. Barclays PLC increased its stake in shares of Fiserv by 3.0% in the 3rd quarter. Barclays PLC now owns 1,685,157 shares of the business services provider’s stock valued at $302,737,000 after buying an additional 48,413 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Fiserv by 0.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,317,778 shares of the business services provider’s stock worth $236,739,000 after acquiring an additional 4,218 shares during the last quarter. 90.98% of the stock is owned by institutional investors.

Insider Activity

In related news, COO Guy Chiarello sold 45,000 shares of Fiserv stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $235.55, for a total value of $10,599,750.00. Following the sale, the chief operating officer now owns 227,711 shares of the company’s stock, valued at approximately $53,637,326.05. The trade was a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.75% of the stock is owned by corporate insiders.

Fiserv Stock Performance

FI opened at $229.58 on Thursday. The company has a market capitalization of $128.86 billion, a price-to-earnings ratio of 42.59, a P/E/G ratio of 1.52 and a beta of 0.94. The business’s 50-day moving average price is $215.50 and its two-hundred day moving average price is $200.07. Fiserv, Inc. has a 1 year low of $145.98 and a 1 year high of $237.99. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07.

Fiserv (NYSE:FI) last posted its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. Equities analysts expect that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Fiserv declared that its board has authorized a stock buyback program on Thursday, February 20th that authorizes the company to buyback 60,000,000 outstanding shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wells Fargo & Company lifted their price objective on Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Compass Point started coverage on shares of Fiserv in a research note on Wednesday, November 20th. They issued a “buy” rating and a $278.00 target price on the stock. Barclays raised their price objective on shares of Fiserv from $235.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Royal Bank of Canada increased their price target on Fiserv from $255.00 to $270.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Oppenheimer lifted their price objective on Fiserv from $214.00 to $239.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Three research 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 company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $239.83.

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.