Strs Ohio Raises Position in Fiserv, Inc. (FISV)
Strs Ohio increased its position in shares of Fiserv, Inc. (NASDAQ:FISV) by 5.0% during the second quarter, Holdings Channel reports. The institutional investor owned 7,324 shares of the business services provider’s stock after buying an additional 352 shares during the period. Strs Ohio’s holdings in Fiserv were worth $896,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in FISV. Bank of Montreal Can increased its stake in shares of 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 in the last quarter. Baldwin Brothers Inc. MA increased its stake in shares of Fiserv by 11.5% in the first quarter. Baldwin Brothers Inc. MA now owns 2,214 shares of the business services provider’s stock worth $255,000 after buying an additional 229 shares in the last quarter. DnB Asset Management AS increased 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 worth $2,660,000 after buying an additional 3,600 shares in the last quarter. Barometer Capital Management Inc. increased 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 worth $2,437,000 after buying an additional 1,775 shares in the last quarter. Finally, University of Texas Investment Managment Co. bought a new stake in shares of Fiserv during the first quarter worth about $184,000. Institutional investors own 88.03% of the company’s stock.
Shares of Fiserv, Inc. (NASDAQ:FISV) opened at 121.09 on Friday. The stock has a 50 day moving average of $124.26 and a 200-day moving average of $119.47. Fiserv, Inc. has a 12-month low of $92.81 and a 12-month high of $129.35. The company has a market capitalization of $25.49 billion, a P/E ratio of 29.64 and a beta of 0.81.
Fiserv (NASDAQ:FISV) last issued its earnings results on Tuesday, August 1st. The business services provider reported $1.19 EPS for the quarter, missing the Zacks’ consensus estimate of $1.23 by $0.04. The business 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%. Fiserv’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the company earned $1.08 earnings per share. Equities research analysts forecast that Fiserv, Inc. will post $5.10 EPS for the current year.
A number of analysts have issued reports on FISV shares. Zacks Investment Research upgraded shares of Fiserv from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a report on Thursday, April 20th. Vetr downgraded shares of Fiserv from a “buy” rating to a “hold” rating and set a $121.50 price target on the stock. in a report on Thursday, April 20th. Royal Bank Of Canada reiterated a “hold” rating and issued a $123.00 price target on shares of Fiserv in a report on Friday, April 28th. Cantor Fitzgerald lifted their price target on shares of Fiserv from $107.00 to $118.00 and gave the company a “neutral” rating in a report on Friday, April 28th. Finally, Credit Suisse Group reiterated a “hold” rating and issued a $116.00 price target on shares of Fiserv in a report on Friday, April 28th. Nine research 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 company’s stock. Fiserv currently has a consensus rating of “Buy” and an average price target of $126.91.
In other news, insider Jeffery W. Yabuki sold 17,000 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $121.85, for a total value of $2,071,450.00. Following the completion of the sale, the insider now directly owns 323,776 shares in the company, valued at $39,452,105.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 51,000 shares of company stock valued at $6,339,810 over the last quarter. Company insiders own 1.80% of the company’s stock.
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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