Investec Asset Management LTD decreased its holdings in Fiserv, Inc. (NASDAQ:FISV) by 0.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 854,061 shares of the business services provider’s stock after selling 7,898 shares during the quarter. Investec Asset Management LTD owned 0.39% of Fiserv worth $104,486,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. Investec Asset Management North America Inc. raised its stake in Fiserv by 7.0% in the 2nd quarter. Investec Asset Management North America Inc. now owns 12,912 shares of the business services provider’s stock worth $1,580,000 after purchasing an additional 847 shares in the last quarter. Thrivent Financial For Lutherans raised its stake in Fiserv by 2,209.1% in the 2nd quarter. Thrivent Financial For Lutherans now owns 182,419 shares of the business services provider’s stock worth $22,317,000 after purchasing an additional 174,519 shares in the last quarter. ProShare Advisors LLC raised its stake in Fiserv by 15.3% in the 2nd quarter. ProShare Advisors LLC now owns 77,875 shares of the business services provider’s stock worth $9,527,000 after purchasing an additional 10,334 shares in the last quarter. BT Investment Management Ltd acquired a new stake in Fiserv in the 2nd quarter worth about $904,000. Finally, Amalgamated Bank raised its stake in Fiserv by 49.5% in the 2nd quarter. Amalgamated Bank now owns 25,013 shares of the business services provider’s stock worth $3,060,000 after purchasing an additional 8,286 shares in the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.
Several analysts have weighed in on FISV shares. BidaskClub cut shares of Fiserv from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Zacks Investment Research upgraded shares of Fiserv from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Wednesday, July 19th. Guggenheim upgraded shares of Fiserv from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $131.00 to $136.00 in a research note on Monday, July 17th. Wedbush reiterated an “outperform” rating and issued a $146.25 price objective (up previously from $115.00) on shares of Fiserv in a research note on Tuesday, June 6th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $134.00 price objective (up previously from $128.00) on shares of Fiserv in a research note on Wednesday, June 14th. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $127.05.
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In other news, insider Jeffery W. Yabuki sold 17,000 shares of the stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $126.02, for a total value of $2,142,340.00. Following the sale, the insider now directly owns 286,151 shares of the company’s stock, valued at $36,060,749.02. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders sold 51,000 shares of company stock worth $6,342,700. Insiders own 1.80% of the company’s stock.
Fiserv, Inc. (FISV) traded up 0.40% during trading on Friday, reaching $124.05. 1,484,510 shares of the company’s stock traded hands. The company’s 50 day moving average is $123.48 and its 200-day moving average is $121.30. Fiserv, Inc. has a 52-week low of $92.81 and a 52-week high of $129.35. The stock has a market cap of $26.11 billion, a price-to-earnings ratio of 30.37 and a beta of 0.82.
Fiserv (NASDAQ:FISV) last announced its quarterly earnings results on Tuesday, August 1st. The business services provider reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.04). Fiserv had a return on equity of 41.79% and a net margin of 16.04%. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the company posted $1.08 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, analysts anticipate that Fiserv, Inc. will post $5.10 earnings per share for the current fiscal year.
Fiserv, Inc is a provider of financial services technology. The Company provides account processing systems; electronic payments processing products and services, such as electronic bill payments, transaction processing, account-to-account transfers, and person-to-person payments; Internet and mobile banking systems, and related services, including document and payment card production and distribution, and lending and risk management products and services.
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