Retirement Systems of Alabama Cuts Stake in Fiserv Inc. (FISV)
Retirement Systems of Alabama cut its position in Fiserv Inc. (NASDAQ:FISV) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,345 shares of the company’s stock after selling 1,464 shares during the period. Retirement Systems of Alabama owned approximately 0.05% of Fiserv worth $12,324,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in FISV. Glenmede Trust Co. NA raised its stake in Fiserv by 91.2% in the first quarter. Glenmede Trust Co. NA now owns 8,709 shares of the company’s stock worth $893,000 after buying an additional 4,153 shares during the last quarter. Commonwealth Equity Services Inc raised its stake in Fiserv by 9.7% in the first quarter. Commonwealth Equity Services Inc now owns 15,798 shares of the company’s stock worth $1,621,000 after buying an additional 1,392 shares during the last quarter. Virginia Retirement System acquired a new stake in Fiserv during the first quarter worth $380,000. CIBC World Markets Inc. raised its stake in Fiserv by 20.1% in the first quarter. CIBC World Markets Inc. now owns 9,103 shares of the company’s stock worth $934,000 after buying an additional 1,524 shares during the last quarter. Finally, Teachers Advisors Inc. raised its stake in Fiserv by 2.5% in the first quarter. Teachers Advisors Inc. now owns 299,803 shares of the company’s stock worth $30,754,000 after buying an additional 7,306 shares during the last quarter. Hedge funds and other institutional investors own 87.25% of the company’s stock.
Fiserv Inc. (NASDAQ:FISV) traded down 0.86% during trading on Tuesday, hitting $98.89. 969,265 shares of the stock traded hands. The stock has a market cap of $21.74 billion, a P/E ratio of 25.11 and a beta of 0.91. Fiserv Inc. has a 52-week low of $85.63 and a 52-week high of $111.51. The company’s 50 day moving average price is $101.51 and its 200-day moving average price is $103.67.
Fiserv (NASDAQ:FISV) last posted its earnings results on Tuesday, August 2nd. The company reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.01. The firm earned $1.36 billion during the quarter, compared to the consensus estimate of $1.38 billion. Fiserv had a net margin of 16.89% and a return on equity of 35.52%. The company’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 EPS. Equities research analysts forecast that Fiserv Inc. will post $4.44 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on FISV shares. Zacks Investment Research upgraded shares of Fiserv from a “hold” rating to a “buy” rating and set a $122.00 price objective on the stock in a research note on Tuesday, July 5th. Barclays PLC increased their price objective on shares of Fiserv from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 7th. Deutsche Bank AG increased their price target on shares of Fiserv from $95.00 to $101.00 and gave the stock a “hold” rating in a report on Wednesday, August 3rd. Credit Suisse Group AG reissued a “hold” rating and set a $101.00 price target on shares of Fiserv in a report on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. reissued a “hold” rating and set a $112.00 price target on shares of Fiserv in a report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $106.00.
In other Fiserv news, insider Rahul Gupta sold 15,225 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $101.02, for a total value of $1,538,029.50. Following the completion of the sale, the insider now owns 66,129 shares of the company’s stock, valued at $6,680,351.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffery W. Yabuki sold 12,000 shares of the stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $100.46, for a total transaction of $1,205,520.00. Following the completion of the sale, the insider now directly owns 323,994 shares of the company’s stock, valued at approximately $32,548,437.24. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
Fiserv Company Profile
Fiserv, Inc is a provider of financial services technology. The Company operates through two segments: Payments and Industry Products (Payments) and Financial Institution Services (Financial). The Payments segment provides debit and credit card processing and services, electronic bill payment and presentment services, Internet and mobile banking software and services, person-to-person payment services, and other electronic payments software and services.
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