Summit Financial Group Inc. bought a new stake in shares of Fiserv, Inc. (NASDAQ:FISV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 10,789 shares of the business services provider’s stock, valued at approximately $1,320,000. Fiserv accounts for 1.1% of Summit Financial Group Inc.’s portfolio, making the stock its 26th largest position.
Other institutional investors have also recently bought and sold shares of the company. Rathbone Brothers plc bought a new stake in Fiserv during the first quarter worth about $202,000. Gulf International Bank UK Ltd increased its stake in Fiserv by 1.1% in the first quarter. Gulf International Bank UK Ltd now owns 68,856 shares of the business services provider’s stock worth $7,939,000 after buying an additional 750 shares during the period. National Pension Service increased its stake in Fiserv by 0.7% in the first quarter. National Pension Service now owns 183,305 shares of the business services provider’s stock worth $21,251,000 after buying an additional 1,304 shares during the period. Bank of Montreal Can increased its stake in Fiserv by 1.9% in the first quarter. Bank of Montreal Can now owns 210,899 shares of the business services provider’s stock worth $24,319,000 after buying an additional 3,899 shares during the period. Finally, Hall Laurie J Trustee increased its stake in Fiserv by 1.9% in the first quarter. Hall Laurie J Trustee now owns 10,630 shares of the business services provider’s stock worth $1,229,000 after buying an additional 200 shares during the period. Institutional investors own 88.03% of the company’s stock.
Shares of Fiserv, Inc. (NASDAQ:FISV) traded down 0.60% during midday trading on Friday, hitting $120.36. 929,030 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $124.23 and its 200-day moving average is $119.56. The stock has a market cap of $25.33 billion, a PE ratio of 29.46 and a beta of 0.81. Fiserv, Inc. has a 1-year low of $92.81 and a 1-year high of $129.35.
Fiserv (NASDAQ:FISV) last posted its quarterly earnings data 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. The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Fiserv had a net margin of 16.04% and a return on equity of 41.79%. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 EPS. Analysts predict that Fiserv, Inc. will post $5.10 earnings per share for the current fiscal year.
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FISV has been the topic of a number of research analyst reports. Royal Bank Of Canada reissued a “hold” rating and issued a $123.00 price target on shares of Fiserv in a research note on Friday, April 28th. Zacks Investment Research downgraded shares of Fiserv from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. Cantor Fitzgerald boosted their price target on shares of Fiserv from $107.00 to $118.00 and gave the company a “neutral” rating in a research note on Friday, April 28th. Credit Suisse Group reissued a “hold” rating and issued a $116.00 price target on shares of Fiserv in a research note on Friday, April 28th. Finally, Wedbush reissued an “outperform” rating and issued a $146.25 price target (up from $115.00) on shares of Fiserv in a research note on Tuesday, June 6th. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $126.91.
In other news, insider Jeffery W. Yabuki sold 17,000 shares of Fiserv stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $125.06, for a total transaction of $2,126,020.00. Following the sale, the insider now owns 303,151 shares in the company, valued at $37,912,064.06. The transaction was disclosed in a legal 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 in the last quarter. Insiders own 1.80% of the company’s stock.
Fiserv Company Profile
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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