Fiserv, Inc. (FISV) Position Cut by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its position in shares of Fiserv, Inc. (NASDAQ:FISV) by 10.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,467 shares of the business services provider’s stock after selling 9,096 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Fiserv were worth $9,233,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of FISV. First Manhattan Co. raised its stake in Fiserv by 14.9% in the first quarter. First Manhattan Co. now owns 1,034 shares of the business services provider’s stock worth $102,000 after buying an additional 134 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new stake in Fiserv during the second quarter worth $104,000. Advisory Services Network LLC acquired a new stake in Fiserv during the first quarter worth $131,000. Trust Co. of Vermont raised its stake in Fiserv by 53.3% in the second quarter. Trust Co. of Vermont now owns 1,303 shares of the business services provider’s stock worth $159,000 after buying an additional 453 shares during the last quarter. Finally, Morgan Dempsey Capital Management LLC raised its stake in Fiserv by 2.3% in the first quarter. Morgan Dempsey Capital Management LLC now owns 1,480 shares of the business services provider’s stock worth $171,000 after buying an additional 33 shares during the last quarter. Institutional investors and hedge funds own 88.03% of the company’s stock.
Shares of Fiserv, Inc. (FISV) opened at 121.09 on Friday. The company’s 50-day moving average is $124.26 and its 200-day moving average is $119.47. The stock has a market capitalization of $25.49 billion, a P/E ratio of 29.64 and a beta of 0.81. Fiserv, Inc. has a one year low of $92.81 and a one year high of $129.35.
Fiserv (NASDAQ:FISV) last announced its quarterly earnings data on Tuesday, August 1st. The business services provider reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by $0.04. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.42 billion. Fiserv had a net margin of 16.04% and a return on equity of 41.79%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.08 earnings per share. On average, equities research analysts anticipate that Fiserv, Inc. will post $5.10 earnings per share for the current year.
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A number of research firms have recently weighed in on FISV. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $128.00 price objective (up previously from $123.00) on shares of Fiserv in a research note on Tuesday, August 8th. BMO Capital Markets increased their price objective on shares of Fiserv from $112.00 to $133.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 1st. Cowen and Company reiterated a “hold” rating and issued a $115.00 price objective on shares of Fiserv in a research note on Thursday, August 3rd. Barclays PLC reiterated an “equal weight” rating and issued a $123.00 price objective (up previously from $115.00) on shares of Fiserv in a research note on Wednesday, August 2nd. Finally, Credit Suisse Group increased their price objective on shares of Fiserv from $123.00 to $126.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 2nd. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $126.91.
In other Fiserv news, insider Jeffery W. Yabuki sold 17,000 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $125.06, for a total value of $2,126,020.00. Following the transaction, the insider now directly owns 303,151 shares of the company’s stock, valued at approximately $37,912,064.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 51,000 shares of company stock worth $6,339,810 over the last three months. 1.80% of the stock is currently owned by corporate insiders.
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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