First Business Financial Services Inc. trimmed its holdings in Fiserv Inc (NASDAQ:FISV) by 5.2% in the third quarter, HoldingsChannel reports. The fund owned 95,868 shares of the business services provider’s stock after selling 5,284 shares during the period. Fiserv makes up 1.7% of First Business Financial Services Inc.’s investment portfolio, making the stock its 10th biggest position. First Business Financial Services Inc.’s holdings in Fiserv were worth $9,931,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. increased its position in Fiserv by 4.5% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,521 shares of the business services provider’s stock valued at $261,000 after purchasing an additional 108 shares during the period. Principle Wealth Partners LLC purchased a new position in Fiserv during the 3rd quarter valued at $207,000. Madrona Funds LLC purchased a new position in Fiserv during the 3rd quarter valued at $400,000. Eagle Asset Management Inc. increased its position in Fiserv by 438.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 59,869 shares of the business services provider’s stock valued at $6,201,000 after purchasing an additional 48,755 shares during the period. Finally, Ifrah Financial Services Inc. increased its position in Fiserv by 45.4% during the 3rd quarter. Ifrah Financial Services Inc. now owns 18,085 shares of the business services provider’s stock valued at $1,873,000 after purchasing an additional 5,650 shares during the period.
In other news, EVP Christopher M. Foskett sold 5,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $106.36, for a total transaction of $531,800.00. Following the completion of the sale, the executive vice president now owns 140,248 shares of the company’s stock, valued at approximately $14,916,777.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Jeffery W. Yabuki sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $107.45, for a total transaction of $2,686,250.00. Following the sale, the chairman now directly owns 291,429 shares of the company’s stock, valued at approximately $31,314,046.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 126,000 shares of company stock valued at $13,422,250. Insiders own 1.40% of the company’s stock.
Shares of FISV stock traded up $0.96 during mid-day trading on Friday, reaching $110.61. 4,201,000 shares of the company’s stock traded hands, compared to its average volume of 4,555,937. The company has a quick ratio of 4.97, a current ratio of 4.97 and a debt-to-equity ratio of 5.40. Fiserv Inc has a 12 month low of $68.45 and a 12 month high of $111.46. The company has a market cap of $40.87 billion, a P/E ratio of 35.68, a P/E/G ratio of 2.15 and a beta of 0.78. The company’s 50-day moving average price is $104.63 and its 200-day moving average price is $97.58.
Fiserv (NASDAQ:FISV) last posted its earnings results on Wednesday, November 6th. The business services provider reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.02. Fiserv had a net margin of 16.08% and a return on equity of 53.08%. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the previous year, the firm posted $0.87 EPS. The firm’s revenue was up 5.3% on a year-over-year basis. Equities analysts predict that Fiserv Inc will post 4.03 earnings per share for the current year.
A number of brokerages have issued reports on FISV. 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 price objective on the stock. Oppenheimer boosted their price objective on shares of Fiserv from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Deutsche Bank raised shares of Fiserv from a “hold” rating to a “buy” rating and boosted their price objective for the company from $100.00 to $120.00 in a research report on Tuesday, July 30th. Robert W. Baird boosted their price objective on shares of Fiserv from $122.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Royal Bank of Canada set a $106.00 price objective on shares of Fiserv and gave the company a “buy” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $107.85.
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.
Further Reading: Percentage Decliners
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