Resources Management Corp CT ADV Makes New $7.33 Million Investment in Fiserv Inc (NASDAQ:FISV)

Resources Management Corp CT ADV acquired a new stake in shares of Fiserv Inc (NASDAQ:FISV) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 70,713 shares of the business services provider’s stock, valued at approximately $7,325,000. Fiserv makes up about 1.4% of Resources Management Corp CT ADV’s holdings, making the stock its 23rd biggest position.

Several other institutional investors also recently added to or reduced their stakes in the company. Kohlberg Kravis Roberts & Co. L.P. bought a new position in shares of Fiserv during the third quarter worth $11,438,995,000. State Street Corp increased its holdings in Fiserv by 44.0% in the 3rd quarter. State Street Corp now owns 23,673,283 shares of the business services provider’s stock valued at $2,452,315,000 after acquiring an additional 7,234,231 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in 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 worth $4,661,611,000 after purchasing an additional 3,933,642 shares in the last quarter. Waddell & Reed Financial Inc. lifted its stake in Fiserv by 302.5% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 2,670,227 shares of the business services provider’s stock worth $243,418,000 after purchasing an additional 2,006,798 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Fiserv by 2,018.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,904,545 shares of the business services provider’s stock valued at $173,618,000 after purchasing an additional 1,814,639 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

In other news, insider Guy Chiarello sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $114.28, for a total transaction of $3,428,400.00. Following the transaction, the insider now owns 326,103 shares of the company’s stock, valued at $37,267,050.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lynn S. Mccreary sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $111.39, for a total value of $2,005,020.00. Following the transaction, the insider now directly owns 70,364 shares in the company, valued at approximately $7,837,845.96. The disclosure for this sale can be found here. Insiders have sold 123,000 shares of company stock worth $13,573,170 in the last quarter. Company insiders own 1.40% of the company’s stock.

Shares of Fiserv stock traded up $0.37 on Wednesday, reaching $114.79. The company had a trading volume of 2,028,880 shares, compared to its average volume of 4,437,852. The firm has a market cap of $79.03 billion, a price-to-earnings ratio of 37.03, a P/E/G ratio of 2.42 and a beta of 0.80. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.08 and a quick ratio of 1.08. The firm’s 50-day moving average price is $109.45 and its two-hundred day moving average price is $101.01. Fiserv Inc has a 1 year low of $68.45 and a 1 year high of $117.04.

Fiserv (NASDAQ:FISV) last released its quarterly earnings results on Wednesday, November 6th. The business services provider reported $1.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.02. The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.78 billion. Fiserv had a return on equity of 16.73% and a net margin of 12.11%. Fiserv’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.87 EPS. As a group, analysts anticipate that Fiserv Inc will post 4.01 EPS for the current year.

A number of research analysts have recently weighed in on the company. BidaskClub lowered Fiserv from a “buy” rating to a “hold” rating in a research report on Thursday, November 28th. Canaccord Genuity started coverage on Fiserv in a research report on Thursday, September 12th. They issued a “buy” rating and a $130.00 target price on the stock. Bank of America started coverage on Fiserv in a research note on Tuesday. They set a “buy” rating for the company. UBS Group started coverage on Fiserv in a report on Monday, October 14th. They set a “buy” rating and a $120.00 price target for the company. Finally, ValuEngine downgraded Fiserv from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company. Fiserv currently has a consensus rating of “Buy” and a consensus price target of $108.24.

About Fiserv

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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