Fiserv, Inc. (FISV) Stake Cut by Marble Harbor Investment Counsel LLC
Marble Harbor Investment Counsel LLC lowered its position in Fiserv, Inc. (NASDAQ:FISV) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,397 shares of the business services provider’s stock after selling 150 shares during the period. Fiserv accounts for 2.6% of Marble Harbor Investment Counsel LLC’s holdings, making the stock its 11th largest position. Marble Harbor Investment Counsel LLC’s holdings in Fiserv were worth $11,916,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of FISV. First Manhattan Co. raised its stake in shares of Fiserv by 14.9% in the first quarter. First Manhattan Co. now owns 1,034 shares of the business services provider’s stock valued at $102,000 after buying an additional 134 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new stake in shares of Fiserv during the second quarter valued at about $104,000. Parallel Advisors LLC raised its stake in shares of Fiserv by 8.2% in the second quarter. Parallel Advisors LLC now owns 849 shares of the business services provider’s stock valued at $109,000 after buying an additional 64 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Fiserv during the first quarter valued at about $131,000. Finally, Trust Co. of Vermont raised its stake in shares of Fiserv by 53.3% in the second quarter. Trust Co. of Vermont now owns 1,303 shares of the business services provider’s stock valued at $159,000 after buying an additional 453 shares during the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.
Fiserv, Inc. (NASDAQ:FISV) traded up 0.54% during trading on Thursday, reaching $123.88. The company had a trading volume of 44,803 shares. The firm has a market capitalization of $26.07 billion, a P/E ratio of 30.33 and a beta of 0.81. The firm’s 50-day moving average price is $124.15 and its 200 day moving average price is $120.11. Fiserv, Inc. has a one year low of $92.81 and a one year high of $129.35.
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 consensus estimate of $1.23 by $0.04. Fiserv had a return on equity of 41.79% and a net margin of 16.04%. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the company earned $1.08 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities analysts forecast that Fiserv, Inc. will post $5.10 earnings per share for the current fiscal year.
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Several analysts have issued reports 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 research note on Wednesday, July 19th. Guggenheim upgraded Fiserv from a “neutral” rating to a “buy” rating and boosted their target price for the company from $131.00 to $136.00 in a research note on Monday, July 17th. BidaskClub lowered Fiserv from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Barclays PLC restated an “equal weight” rating and issued a $123.00 target price (up from $115.00) on shares of Fiserv in a research note on Wednesday, August 2nd. Finally, Cowen and Company restated a “hold” rating and issued a $115.00 target price on shares of Fiserv in a research note on Thursday, August 3rd. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $126.91.
In related news, insider Jeffery W. Yabuki sold 17,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $122.02, for a total transaction of $2,074,340.00. Following the completion of the transaction, the insider now owns 269,151 shares in the company, valued at approximately $32,841,805.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 51,000 shares of company stock valued at $6,342,700. 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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