SouthState Corp Has $5.48 Million Stake in Fiserv, Inc. (NYSE:FI)

SouthState Corp decreased its stake in shares of Fiserv, Inc. (NYSE:FI) by 4.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund 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.

A number of other hedge funds have also made changes to their positions in FI. Valley National Advisers Inc. acquired a new stake in Fiserv in the 4th quarter valued at approximately $29,000. Marshall Investment Management LLC acquired a new stake in Fiserv in the 4th quarter valued at approximately $29,000. Compass Financial Services Inc acquired a new stake in Fiserv in the 4th quarter valued at approximately $31,000. Campbell Capital Management Inc. acquired a new stake in Fiserv in the 4th quarter valued at approximately $37,000. Finally, Knuff & Co LLC acquired a new stake in Fiserv in the 4th quarter valued at approximately $45,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on FI shares. Stephens raised their target price on Fiserv from $255.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Seaport Res Ptn upgraded Fiserv from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods raised their price objective on Fiserv from $238.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company raised 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. Finally, BMO Capital Markets raised their target price on Fiserv from $233.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Three 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 company presently has an average rating of “Moderate Buy” and an average price target of $239.83.

Insider Buying and Selling at Fiserv

In other Fiserv news, COO Guy Chiarello sold 45,000 shares of the business’s 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 completion of the transaction, the chief operating officer now directly 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 is accessible through the SEC website. Insiders own 0.75% of the company’s stock.

Fiserv Stock Up 2.6 %

Shares of Fiserv stock opened at $214.91 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 0.86. Fiserv, Inc. has a 12 month low of $145.98 and a 12 month high of $238.59. The business has a fifty day simple moving average of $218.96 and a 200 day simple moving average of $204.87. The stock has a market cap of $120.62 billion, a PE ratio of 39.87, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

Fiserv (NYSE:FI) last announced its quarterly earnings data on Wednesday, February 5th. The business services provider reported $2.51 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%. Research analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its Board of Directors has approved a share repurchase plan on Thursday, February 20th that permits the company to repurchase 60,000,000 outstanding shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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.