Investec Asset Management North America Inc. Acquires 847 Shares of Fiserv, Inc. (FISV)
Investec Asset Management North America Inc. raised its holdings in Fiserv, Inc. (NASDAQ:FISV) by 7.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,912 shares of the business services provider’s stock after buying an additional 847 shares during the period. Investec Asset Management North America Inc.’s holdings in Fiserv were worth $1,580,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. 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 last quarter. Chicago Partners Investment Group LLC acquired a new stake in Fiserv in the 2nd quarter valued at $104,000. 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 last quarter. 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 last quarter. Finally, Pegasus Partners Ltd. acquired a new stake in Fiserv in the 2nd quarter valued at $200,000. Hedge funds and other institutional investors own 87.72% of the company’s stock.
Shares of Fiserv, Inc. (NASDAQ:FISV) traded up 0.40% during mid-day trading on Friday, hitting $124.05. 1,484,510 shares of the company traded hands. The stock has a market capitalization of $26.11 billion, a price-to-earnings ratio of 30.37 and a beta of 0.82. Fiserv, Inc. has a one year low of $92.81 and a one year high of $129.35. The firm has a 50-day moving average of $123.48 and a 200-day moving average of $121.30.
Fiserv (NASDAQ:FISV) last announced its earnings results on Tuesday, August 1st. The business services provider reported $1.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($0.04). The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Fiserv had a net margin of 16.04% and a return on equity of 41.79%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.08 EPS. On average, equities analysts predict that Fiserv, Inc. will post $5.10 earnings per share for the current year.
In related news, insider Jeffery W. Yabuki sold 17,000 shares of the 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 $32,841,805.02. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders have sold 51,000 shares of company stock valued at $6,342,700. 1.80% of the stock is owned by company insiders.
Several brokerages have issued reports on FISV. Robert W. Baird reiterated a “buy” rating and issued a $136.00 price target on shares of Fiserv in a research note on Friday, September 8th. Royal Bank Of Canada reiterated a “hold” rating and issued a $128.00 price target on shares of Fiserv in a research note on Wednesday, September 6th. BidaskClub lowered shares of Fiserv from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 22nd. Cowen and Company reiterated a “hold” rating and issued a $115.00 price target on shares of Fiserv in a research note on Thursday, August 3rd. Finally, Credit Suisse Group lifted their price target on shares of Fiserv from $123.00 to $126.00 and gave the company a “neutral” rating in a research note on Wednesday, August 2nd. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $127.05.
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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