State Treasurer State of Michigan raised its stake in shares of Fiserv (NASDAQ:FISV) by 99.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 142,156 shares of the business services provider’s stock after purchasing an additional 70,928 shares during the period. State Treasurer State of Michigan’s holdings in Fiserv were worth $10,137,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Ballew Advisors Inc bought a new position in shares of Fiserv in the 1st quarter worth about $114,000. Virtue Capital Management LLC bought a new position in shares of Fiserv in the 4th quarter worth about $116,000. Litman Gregory Asset Management LLC bought a new position in shares of Fiserv in the 1st quarter worth about $116,000. ARK Investment Management LLC bought a new position in shares of Fiserv in the 4th quarter worth about $118,000. Finally, Certified Advisory Corp raised its position in shares of Fiserv by 144.4% in the 1st quarter. Certified Advisory Corp now owns 1,760 shares of the business services provider’s stock worth $125,000 after acquiring an additional 1,040 shares in the last quarter. 55.20% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on FISV. BMO Capital Markets lifted their price objective on Fiserv from $66.50 to $76.00 and gave the stock an “average” rating in a research report on Thursday, February 8th. BidaskClub lowered Fiserv from a “buy” rating to a “hold” rating in a research report on Friday, April 6th. ValuEngine lowered Fiserv from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Stephens reissued a “hold” rating and issued a $73.00 price objective on shares of Fiserv in a research report on Friday, February 9th. Finally, Guggenheim reissued a “buy” rating and issued a $80.00 price objective on shares of Fiserv in a research report on Monday, January 29th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Fiserv currently has an average rating of “Hold” and an average price target of $71.62.
Shares of FISV opened at $72.09 on Wednesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $29.65 billion, a PE ratio of 28.16, a PEG ratio of 2.02 and a beta of 0.81. Fiserv has a one year low of $71.61 and a one year high of $72.16.
Fiserv (NASDAQ:FISV) last issued its earnings results on Tuesday, May 1st. The business services provider reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.03. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.44 billion. Fiserv had a return on equity of 44.13% and a net margin of 24.76%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the business posted $1.13 EPS. sell-side analysts forecast that Fiserv will post 3.11 earnings per share for the current fiscal year.
In related news, Director Harry Disimone purchased 353 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was acquired at an average price of $141.59 per share, for a total transaction of $49,981.27. Following the purchase, the director now owns 154 shares of the company’s stock, valued at $21,804.86. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jeffery W. Yabuki sold 50,000 shares of Fiserv stock in a transaction dated Wednesday, April 18th. The shares were sold at an average price of $72.11, for a total value of $3,605,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 113,160 shares of company stock valued at $10,243,312 in the last quarter. Company insiders own 1.70% of the company’s stock.
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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