State of Michigan Retirement System Buys 43,300 Shares of Fiserv Inc (NASDAQ:FISV)

State of Michigan Retirement System lifted its stake in shares of Fiserv Inc (NASDAQ:FISV) by 12.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 386,706 shares of the business services provider’s stock after acquiring an additional 43,300 shares during the quarter. State of Michigan Retirement System’s holdings in Fiserv were worth $40,059,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Truewealth LLC lifted its holdings in Fiserv by 70.5% in the 3rd quarter. Truewealth LLC now owns 249 shares of the business services provider’s stock worth $26,000 after purchasing an additional 103 shares in the last quarter. Newman Dignan & Sheerar Inc. lifted its holdings in Fiserv by 1.3% in the 3rd quarter. Newman Dignan & Sheerar Inc. now owns 8,780 shares of the business services provider’s stock worth $910,000 after purchasing an additional 110 shares in the last quarter. Advisor Partners LLC lifted its holdings in Fiserv by 1.0% in the 2nd quarter. Advisor Partners LLC now owns 11,526 shares of the business services provider’s stock worth $1,051,000 after purchasing an additional 112 shares in the last quarter. Ballentine Partners LLC lifted its holdings in Fiserv by 2.7% in the 3rd quarter. Ballentine Partners LLC now owns 4,260 shares of the business services provider’s stock worth $441,000 after purchasing an additional 114 shares in the last quarter. Finally, Peoples Bank OH lifted its holdings in Fiserv by 1.2% in the 3rd quarter. Peoples Bank OH now owns 10,075 shares of the business services provider’s stock worth $1,044,000 after purchasing an additional 120 shares in the last quarter.

In related news, Chairman Jeffery W. Yabuki sold 25,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $107.45, for a total transaction of $2,686,250.00. Following the sale, the chairman now owns 291,429 shares in the company, valued at approximately $31,314,046.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Jeffery W. Yabuki sold 20,000 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $103.20, for a total value of $2,064,000.00. Following the sale, the chairman now owns 330,629 shares in the company, valued at approximately $34,120,912.80. The disclosure for this sale can be found here. Insiders have sold a total of 146,000 shares of company stock worth $15,486,250 in the last 90 days. 1.40% of the stock is currently owned by insiders.

A number of research analysts recently commented on FISV shares. Wedbush boosted their price target on Fiserv from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Northcoast Research raised Fiserv from a “neutral” rating to a “buy” rating and set a $90.86 price target on the stock in a report on Wednesday, June 26th. Deutsche Bank raised Fiserv from a “hold” rating to a “buy” rating and boosted their price target for the stock from $100.00 to $120.00 in a report on Tuesday, July 30th. UBS Group initiated coverage on Fiserv in a report on Monday, October 14th. They issued a “buy” rating and a $120.00 price target on the stock. Finally, Royal Bank of Canada set a $106.00 price objective on Fiserv and gave the stock a “buy” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have given a buy rating to the company. Fiserv presently has a consensus rating of “Buy” and an average target price of $106.07.

Shares of FISV traded down $0.20 during mid-day trading on Wednesday, hitting $100.59. 1,924,922 shares of the stock were exchanged, compared to its average volume of 2,981,228. The company has a market cap of $41.04 billion, a PE ratio of 32.45, a price-to-earnings-growth ratio of 2.23 and a beta of 0.79. Fiserv Inc has a 52-week low of $68.45 and a 52-week high of $109.92. The firm has a 50-day moving average of $104.74 and a two-hundred day moving average of $96.05. The company has a debt-to-equity ratio of 5.40, a quick ratio of 4.97 and a current ratio of 4.97.

Fiserv (NASDAQ:FISV) last issued its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.02. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Fiserv had a return on equity of 53.08% and a net margin of 16.08%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 EPS. On average, sell-side analysts predict that Fiserv Inc will post 3.9 EPS for the current year.

Fiserv Profile

Fiserv, Inc, together with its subsidiaries, provides financial services technology worldwide. The company's Payments and Industry Products segment provides electronic bill payment and presentment services; Internet and mobile banking software and services; account-to-account transfers; person-to-person payment services; debit and credit card processing and services; payments infrastructure services; and other electronic payments software and services.

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Institutional Ownership by Quarter for Fiserv (NASDAQ:FISV)

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