Coronation Fund Managers Ltd. boosted its position in shares of Fiserv Inc (NASDAQ:FISV) by 33.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 178,084 shares of the business services provider’s stock after acquiring an additional 44,484 shares during the period. Coronation Fund Managers Ltd.’s holdings in Fiserv were worth $16,234,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bremer Bank National Association bought a new stake in Fiserv during the 1st quarter worth approximately $25,000. Parkside Financial Bank & Trust raised its stake in Fiserv by 74.4% during the 1st quarter. Parkside Financial Bank & Trust now owns 464 shares of the business services provider’s stock worth $41,000 after acquiring an additional 198 shares during the period. Glassman Wealth Services raised its stake in Fiserv by 76.9% during the 1st quarter. Glassman Wealth Services now owns 467 shares of the business services provider’s stock worth $41,000 after acquiring an additional 203 shares during the period. Valeo Financial Advisors LLC raised its stake in Fiserv by 9,000.0% during the 2nd quarter. Valeo Financial Advisors LLC now owns 546 shares of the business services provider’s stock worth $50,000 after acquiring an additional 540 shares during the period. Finally, Thor Advisors LLC bought a new stake in Fiserv during the 1st quarter worth approximately $54,000. Institutional investors own 87.39% of the company’s stock.
Shares of FISV stock traded down $1.63 on Monday, reaching $102.69. The company’s stock had a trading volume of 29,544 shares, compared to its average volume of 7,345,075. The stock’s fifty day simple moving average is $94.56. Fiserv Inc has a 1 year low of $68.45 and a 1 year high of $107.06. The company has a debt-to-equity ratio of 5.40, a current ratio of 4.97 and a quick ratio of 1.07. The stock has a market capitalization of $40.99 billion, a P/E ratio of 33.09, a price-to-earnings-growth ratio of 2.51 and a beta of 0.80.
Fiserv (NASDAQ:FISV) last posted its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.80 by $0.02. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. Fiserv had a net margin of 16.08% and a return on equity of 53.08%. Fiserv’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 earnings per share. On average, research analysts expect that Fiserv Inc will post 3.76 earnings per share for the current year.
FISV has been the topic of a number of recent analyst reports. Wedbush raised their target price on shares of Fiserv from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Northcoast Research raised shares of Fiserv from a “neutral” rating to a “buy” rating and set a $90.86 price objective for the company in a report on Wednesday, June 26th. Wells Fargo & Co initiated coverage on shares of Fiserv in a report on Wednesday, June 19th. They set an “outperform” rating and a $110.00 price objective for the company. SunTrust Banks raised shares of Fiserv from a “hold” rating to a “buy” rating and increased their price objective for the company from $91.00 to $100.00 in a report on Wednesday, June 5th. They noted that the move was a valuation call. Finally, Royal Bank of Canada set a $106.00 price objective on shares of Fiserv and gave the company a “buy” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $97.75.
In other Fiserv news, insider Jeffery W. Yabuki sold 20,000 shares of Fiserv stock in a transaction on Wednesday, June 19th. The shares were sold at an average price of $89.23, for a total transaction of $1,784,600.00. Following the completion of the transaction, the insider now directly owns 354,929 shares of the company’s stock, valued at $31,670,314.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffery W. Yabuki sold 2,000 shares of Fiserv stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $88.95, for a total transaction of $177,900.00. Following the transaction, the insider now directly owns 371,429 shares of the company’s stock, valued at $33,038,609.55. The disclosure for this sale can be found here. Insiders have sold 82,000 shares of company stock valued at $7,621,300 over the last ninety days. 1.40% of the stock is owned by insiders.
Fiserv Company Profile
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; Internet and 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.
See Also: Earnings Reports
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