Financial Management Professionals Inc. bought a new stake in Fiserv Inc (NASDAQ:FISV) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 303 shares of the business services provider’s stock, valued at approximately $31,000.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its stake in shares of Fiserv by 8.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 51,136,590 shares of the business services provider’s stock valued at $4,661,611,000 after purchasing an additional 3,933,642 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Fiserv by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 42,885,474 shares of the business services provider’s stock valued at $3,909,440,000 after purchasing an additional 322,980 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Fiserv by 2.8% in the 2nd quarter. BlackRock Inc. now owns 32,487,873 shares of the business services provider’s stock valued at $2,961,594,000 after purchasing an additional 883,535 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Fiserv by 11.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,508,566 shares of the business services provider’s stock valued at $682,004,000 after purchasing an additional 758,149 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Fiserv by 8.6% in the 1st quarter. FMR LLC now owns 6,516,935 shares of the business services provider’s stock valued at $575,315,000 after purchasing an additional 513,992 shares in the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on the stock. ValuEngine downgraded shares of Fiserv from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada set a $106.00 target price on shares of Fiserv and gave the stock a “buy” rating in a research report on Friday, July 26th. Canaccord Genuity began coverage on shares of Fiserv in a research report on Thursday, September 12th. They set a “buy” rating and a $130.00 target price on the stock. Robert W. Baird lifted their target price on shares of Fiserv from $112.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Finally, BidaskClub upgraded shares of Fiserv from a “hold” rating to a “buy” rating in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $102.88.
In other news, insider Jeffery W. Yabuki sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $94.25, for a total value of $1,885,000.00. Following the transaction, the insider now owns 331,429 shares in the company, valued at approximately $31,237,183.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Jeffery W. Yabuki sold 25,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chairman now owns 291,429 shares in the company, valued at approximately $31,314,046.05. The disclosure for this sale can be found here. Insiders sold a total of 141,000 shares of company stock worth $14,713,000 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.
Shares of NASDAQ FISV traded up $0.56 during midday trading on Friday, reaching $105.70. The stock had a trading volume of 116,143 shares, compared to its average volume of 3,655,562. The firm has a market cap of $40.52 billion, a price-to-earnings ratio of 34.15, a price-to-earnings-growth ratio of 2.24 and a beta of 0.79. Fiserv Inc has a twelve month low of $68.45 and a twelve month high of $109.92. The company has a debt-to-equity ratio of 5.40, a quick ratio of 4.97 and a current ratio of 4.97. The company’s 50 day moving average price is $105.03 and its 200 day moving average price is $95.00.
Fiserv (NASDAQ:FISV) last issued its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.02. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. Fiserv had a net margin of 16.08% and a return on equity of 53.08%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.75 EPS. Equities analysts forecast that Fiserv Inc will post 3.83 earnings per share for the current fiscal year.
Fiserv Company 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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