Cullinan Associates Inc. increased its stake in shares of Fiserv Inc (NASDAQ:FISV) by 8.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 97,502 shares of the business services provider’s stock after buying an additional 7,670 shares during the period. Cullinan Associates Inc.’s holdings in Fiserv were worth $8,032,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Sonora Investment Management LLC bought a new stake in shares of Fiserv during the 2nd quarter worth about $106,000. Fort L.P. bought a new stake in shares of Fiserv during the 2nd quarter worth about $120,000. Braun Bostich & Associates Inc. boosted its holdings in shares of Fiserv by 515.8% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,712 shares of the business services provider’s stock worth $127,000 after buying an additional 1,434 shares during the period. Trust Co. of Vermont boosted its holdings in shares of Fiserv by 100.0% during the 1st quarter. Trust Co. of Vermont now owns 1,898 shares of the business services provider’s stock worth $135,000 after buying an additional 949 shares during the period. Finally, Twin Tree Management LP bought a new stake in shares of Fiserv during the 2nd quarter worth about $135,000. 88.30% of the stock is owned by institutional investors and hedge funds.
In other news, insider Jeffery W. Yabuki sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $79.72, for a total transaction of $3,986,000.00. Following the completion of the sale, the insider now owns 418,380 shares of the company’s stock, valued at approximately $33,353,253.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 150,000 shares of company stock valued at $11,864,000. 1.80% of the stock is currently owned by insiders.
NASDAQ FISV traded up $0.10 during trading on Friday, reaching $78.60. The company’s stock had a trading volume of 112,344 shares, compared to its average volume of 1,887,039. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.69. The company has a market capitalization of $32.01 billion, a P/E ratio of 30.99, a P/E/G ratio of 2.20 and a beta of 0.79. Fiserv Inc has a 12 month low of $60.19 and a 12 month high of $82.79.
Fiserv (NASDAQ:FISV) last issued its quarterly earnings results on Tuesday, July 31st. The business services provider reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.01. Fiserv had a net margin of 25.14% and a return on equity of 44.25%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the firm posted $0.57 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. Equities analysts expect that Fiserv Inc will post 3.13 EPS for the current year.
A number of analysts have issued reports on FISV shares. Cantor Fitzgerald reissued a “hold” rating and issued a $73.00 price objective on shares of Fiserv in a report on Wednesday, August 1st. Zacks Investment Research downgraded shares of Fiserv from a “hold” rating to a “sell” rating in a report on Monday. JPMorgan Chase & Co. downgraded shares of Fiserv from a “neutral” rating to an “underweight” rating and set a $95.00 price objective for the company. in a report on Tuesday, August 14th. Deutsche Bank boosted their price objective on shares of Fiserv from $63.50 to $71.00 and gave the company a “hold” rating in a report on Wednesday, August 1st. Finally, BidaskClub downgraded shares of Fiserv from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $78.82.
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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