Bridgewater Associates LP Decreases Position in Fiserv Inc (FISV)
Bridgewater Associates LP trimmed its holdings in Fiserv Inc (NASDAQ:FISV) by 74.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,151 shares of the business services provider’s stock after selling 9,292 shares during the quarter. Bridgewater Associates LP’s holdings in Fiserv were worth $260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. GAM Holding AG purchased a new stake in shares of Fiserv during the 3rd quarter valued at about $295,000. Allianz Asset Management GmbH boosted its holdings in shares of Fiserv by 106.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 12,257 shares of the business services provider’s stock valued at $1,010,000 after acquiring an additional 209,805 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Fiserv by 818.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 364,742 shares of the business services provider’s stock valued at $30,029,000 after acquiring an additional 325,033 shares during the last quarter. Eaton Vance Management boosted its holdings in shares of Fiserv by 1.8% during the 3rd quarter. Eaton Vance Management now owns 729,288 shares of the business services provider’s stock valued at $60,079,000 after acquiring an additional 13,178 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in shares of Fiserv by 47.5% during the 3rd quarter. Hsbc Holdings PLC now owns 436,941 shares of the business services provider’s stock valued at $35,995,000 after acquiring an additional 140,672 shares during the last quarter. Institutional investors own 87.58% of the company’s stock.
In other news, insider Jeffery W. Yabuki sold 50,000 shares of the stock in a transaction that occurred on Wednesday, October 17th. The shares were sold at an average price of $78.92, for a total value of $3,946,000.00. Following the transaction, the insider now owns 367,380 shares in the company, valued at approximately $28,993,629.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 150,000 shares of company stock worth $11,779,000 in the last quarter. Company insiders own 1.80% of the company’s stock.
Fiserv (NASDAQ:FISV) last issued its quarterly earnings data on Wednesday, October 31st. The business services provider reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.02). Fiserv had a return on equity of 44.31% and a net margin of 25.00%. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the company earned $1.27 EPS. Fiserv’s revenue for the quarter was up .9% on a year-over-year basis. As a group, analysts expect that Fiserv Inc will post 3.13 EPS for the current fiscal year.
A number of analysts have recently issued reports on the stock. Robert W. Baird raised their price target on shares of Fiserv from $82.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, September 24th. BidaskClub raised shares of Fiserv from a “hold” rating to a “buy” rating in a report on Thursday, September 13th. Argus set a $90.00 price target on shares of Fiserv and gave the company a “buy” rating in a report on Wednesday, September 19th. JPMorgan Chase & Co. downgraded shares of Fiserv from a “neutral” rating to an “underweight” rating and set a $95.00 price target on the stock. in a report on Tuesday, August 14th. Finally, Zacks Investment Research raised shares of Fiserv from a “sell” rating to a “hold” rating in a report on Tuesday, October 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $80.57.
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Fiserv, Inc, together with its subsidiaries, provides financial services technology worldwide. The company's Payments and Industry Products segment provides electronic bill payment and presentment services; mobile banking software and services; account-to-account transfers; person-to-person payment services; debit and credit card processing and services; payments infrastructure services; and other electronic payments software and services.
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