JPMorgan Chase & Co. Grows Holdings in Fiserv, Inc. (FISV)
JPMorgan Chase & Co. raised its stake in Fiserv, Inc. (NASDAQ:FISV) by 34.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 618,501 shares of the business services provider’s stock after buying an additional 158,852 shares during the quarter. JPMorgan Chase & Co. owned 0.29% of Fiserv worth $75,667,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in FISV. Chicago Partners Investment Group LLC acquired a new position in Fiserv in the 2nd quarter valued at approximately $104,000. Parallel Advisors LLC increased its stake in Fiserv by 8.2% in the 2nd 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 period. Trust Co. of Vermont increased its stake in Fiserv by 53.3% in the 2nd 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 period. Morgan Dempsey Capital Management LLC increased its stake in Fiserv by 2.3% in the 1st quarter. Morgan Dempsey Capital Management LLC now owns 1,480 shares of the business services provider’s stock valued at $171,000 after buying an additional 33 shares during the period. Finally, New England Research & Management Inc. acquired a new position in Fiserv in the 2nd quarter valued at approximately $200,000. Hedge funds and other institutional investors own 87.72% of the company’s stock.
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Several research analysts have weighed in on FISV shares. Zacks Investment Research upgraded shares of Fiserv from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research note on Wednesday, July 19th. Guggenheim upgraded shares of Fiserv from a “neutral” rating to a “buy” rating and upped their price objective for the company from $131.00 to $136.00 in a research note on Monday, July 17th. BidaskClub lowered shares of Fiserv from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Robert W. Baird reiterated a “buy” rating and issued a $136.00 price objective on shares of Fiserv in a research note on Friday. Finally, 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. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $127.05.
Fiserv, Inc. (NASDAQ FISV) opened at 122.66 on Monday. The stock’s 50 day moving average is $123.85 and its 200 day moving average is $120.96. The firm has a market cap of $25.82 billion, a price-to-earnings ratio of 30.03 and a beta of 0.82. Fiserv, Inc. has a 52 week low of $92.81 and a 52 week 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 the Zacks’ consensus estimate of $1.23 by $0.04. Fiserv had a net margin of 16.04% and a return on equity of 41.79%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the business earned $1.08 earnings per share. Fiserv’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities research analysts expect that Fiserv, Inc. will post $5.10 EPS for the current year.
In other news, insider Jeffery W. Yabuki sold 17,000 shares of Fiserv stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $126.02, for a total value of $2,142,340.00. Following the sale, the insider now directly owns 286,151 shares in the company, valued at $36,060,749.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 51,000 shares of company stock worth $6,342,700 over the last quarter. 1.80% of the stock is owned by corporate insiders.
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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