Daiwa Securities Group Inc. cut its stake in shares of Fiserv, Inc. (NASDAQ:FISV) by 18.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,500 shares of the business services provider’s stock after selling 4,300 shares during the period. Daiwa Securities Group Inc.’s holdings in Fiserv were worth $2,386,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue bought a new stake in shares of Fiserv during the first quarter valued at approximately $233,000. Huntington National Bank boosted its stake in shares of Fiserv by 9.3% in the first quarter. Huntington National Bank now owns 200,573 shares of the business services provider’s stock valued at $23,129,000 after buying an additional 17,091 shares during the last quarter. University of Texas Investment Managment Co. bought a new stake in shares of Fiserv during the first quarter valued at approximately $184,000. Barometer Capital Management Inc. boosted its stake in shares of Fiserv by 9.2% in the first quarter. Barometer Capital Management Inc. now owns 21,130 shares of the business services provider’s stock valued at $2,437,000 after buying an additional 1,775 shares during the last quarter. Finally, DnB Asset Management AS boosted its stake in shares of Fiserv by 18.5% in the first quarter. DnB Asset Management AS now owns 23,070 shares of the business services provider’s stock valued at $2,660,000 after buying an additional 3,600 shares during the last quarter. 88.03% of the stock is owned by institutional investors.
Fiserv, Inc. (NASDAQ FISV) traded down 0.60% during trading on Friday, hitting $120.36. The company’s stock had a trading volume of 929,030 shares. Fiserv, Inc. has a 12 month low of $92.81 and a 12 month high of $129.35. The firm has a 50 day moving average of $124.23 and a 200 day moving average of $119.56. The firm has a market cap of $25.33 billion, a P/E ratio of 29.46 and a beta of 0.81.
Fiserv (NASDAQ:FISV) last released its quarterly earnings results on Tuesday, August 1st. The business services provider reported $1.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by $0.04. Fiserv had a net margin of 16.04% and a return on equity of 41.79%. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the firm earned $1.08 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities research analysts predict that Fiserv, Inc. will post $5.10 earnings per share for the current year.
Several analysts recently commented on FISV shares. Zacks Investment Research upgraded Fiserv from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a report on Wednesday, July 19th. Guggenheim upgraded Fiserv from a “neutral” rating to a “buy” rating and upped their target price for the company from $131.00 to $136.00 in a report on Monday, July 17th. BidaskClub cut Fiserv from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Barclays PLC reiterated an “equal weight” rating and issued a $123.00 target price (up from $115.00) on shares of Fiserv in a report on Wednesday, August 2nd. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $118.00 target price on shares of Fiserv in a report on Tuesday, June 20th. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $126.91.
In related news, insider Jeffery W. Yabuki sold 17,000 shares of Fiserv stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $125.06, for a total transaction of $2,126,020.00. Following the sale, the insider now directly owns 303,151 shares in the company, valued at $37,912,064.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 51,000 shares of company stock worth $6,339,810 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.
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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