SouthState Corp Sells 1,175 Shares of Fiserv, Inc. (NYSE:FI)

SouthState Corp lessened its stake in shares of Fiserv, Inc. (NYSE:FI) by 4.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,681 shares of the business services provider’s stock after selling 1,175 shares during the period. SouthState Corp’s holdings in Fiserv were worth $5,481,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Marshall Investment Management LLC acquired a new position in shares of Fiserv in the fourth quarter valued at approximately $29,000. Valley National Advisers Inc. acquired a new position in shares of Fiserv in the fourth quarter valued at approximately $29,000. Compass Financial Services Inc acquired a new position in shares of Fiserv in the fourth quarter valued at approximately $31,000. Campbell Capital Management Inc. acquired a new position in shares of Fiserv in the fourth quarter valued at approximately $37,000. Finally, Knuff & Co LLC acquired a new stake in Fiserv during the fourth quarter worth approximately $45,000. Institutional investors own 90.98% of the company’s stock.

Insider Activity at Fiserv

In other Fiserv 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 transaction, the chief operating officer now owns 227,711 shares of the company’s stock, valued at $53,637,326.05. This trade represents a 16.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is owned by insiders.

Fiserv Stock Performance

Shares of FI opened at $214.91 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The stock has a 50-day moving average of $218.96 and a 200-day moving average of $204.87. The company has a market cap of $120.62 billion, a PE ratio of 39.87, a P/E/G ratio of 1.52 and a beta of 0.93. Fiserv, Inc. has a one year low of $145.98 and a one year high of $238.59.

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

Fiserv declared that its board has approved a stock buyback 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 reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on FI shares. Keefe, Bruyette & Woods increased their price target on Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. BMO Capital Markets increased their price target on Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Compass Point began coverage on Fiserv in a research report on Wednesday, November 20th. They set a “buy” rating and a $278.00 price target on the stock. StockNews.com cut Fiserv from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Wells Fargo & Company upped their target price on Fiserv from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.