Canandaigua National Bank & Trust Co. trimmed its stake in Fiserv Inc (NASDAQ:FISV) by 6.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,260 shares of the business services provider’s stock after selling 874 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Fiserv were worth $1,092,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Sonora Investment Management LLC acquired a new stake in shares of Fiserv during the 2nd quarter valued at about $106,000. Fort L.P. acquired a new stake in shares of Fiserv during the 2nd quarter valued at about $120,000. Braun Bostich & Associates Inc. boosted its position 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 valued at $127,000 after acquiring an additional 1,434 shares in the last quarter. Twin Tree Management LP acquired a new stake in shares of Fiserv during the 2nd quarter valued at about $135,000. Finally, TRUE Private Wealth Advisors acquired a new stake in shares of Fiserv during the 3rd quarter valued at about $143,000. Institutional investors own 87.48% of the company’s stock.
In other Fiserv news, insider Jeffery W. Yabuki sold 50,000 shares of the business’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $78.64, for a total value of $3,932,000.00. Following the completion of the transaction, the insider now directly owns 467,380 shares of the company’s stock, valued at $36,754,763.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 150,000 shares of company stock valued at $11,864,000. Insiders own 1.70% of the company’s stock.
Several brokerages recently issued reports on FISV. Zacks Investment Research raised shares of Fiserv from a “sell” rating to a “hold” rating in a report on Tuesday, October 23rd. BidaskClub raised shares of Fiserv from a “hold” rating to a “buy” rating in a report on Friday, October 19th. Credit Suisse Group lifted their price target on shares of Fiserv from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, October 15th. Robert W. Baird lifted 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. Finally, 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. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. Fiserv presently has an average rating of “Hold” and an average price target of $78.82.
Shares of FISV stock opened at $76.71 on Tuesday. Fiserv Inc has a 12-month low of $62.76 and a 12-month high of $82.79. The stock has a market cap of $29.88 billion, a P/E ratio of 29.96, a PEG ratio of 2.08 and a beta of 0.79. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.81.
Fiserv (NASDAQ:FISV) last announced its earnings results on Wednesday, October 31st. The business services provider reported $0.75 earnings per share for the quarter, missing the Zacks’ 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 company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the firm posted $1.27 earnings per share. The company’s revenue was up .9% on a year-over-year basis. On average, equities research analysts expect that Fiserv Inc will post 3.14 EPS for the current fiscal year.
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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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