Resources Management Corp CT ADV acquired a new stake in shares of Fiserv Inc (NASDAQ:FISV) during the third quarter, Holdings Channel reports. The institutional investor acquired 70,713 shares of the business services provider’s stock, valued at approximately $7,325,000. Fiserv makes up about 1.4% of Resources Management Corp CT ADV’s holdings, making the stock its 23rd biggest holding.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Truewealth LLC grew its holdings in Fiserv by 70.5% during the third quarter. Truewealth LLC now owns 249 shares of the business services provider’s stock worth $26,000 after acquiring an additional 103 shares during the period. Cordasco Financial Network acquired a new stake in shares of Fiserv during the 3rd quarter worth approximately $29,000. Financial Management Professionals Inc. acquired a new stake in shares of Fiserv during the 3rd quarter worth approximately $31,000. Advantage Investment Management LLC increased its holdings in shares of Fiserv by 126.4% during the 2nd quarter. Advantage Investment Management LLC now owns 335 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 187 shares in the last quarter. Finally, Liberty Wealth Management LLC purchased a new position in shares of Fiserv during the 3rd quarter valued at approximately $36,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FISV stock traded up $0.37 on Wednesday, reaching $114.79. 2,028,880 shares of the company were exchanged, compared to its average volume of 4,437,852. Fiserv Inc has a 1 year low of $68.45 and a 1 year high of $117.04. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.08. The business has a 50-day moving average price of $109.45 and a 200 day moving average price of $101.01. The company has a market cap of $79.03 billion, a price-to-earnings ratio of 37.03, a P/E/G ratio of 2.42 and a beta of 0.80.
Fiserv (NASDAQ:FISV) last issued its quarterly earnings results on Wednesday, November 6th. The business services provider reported $1.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.02. Fiserv had a net margin of 12.11% and a return on equity of 16.73%. The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same period last year, the company posted $0.87 EPS. Fiserv’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts anticipate that Fiserv Inc will post 4.01 earnings per share for the current year.
Several equities analysts recently issued reports on FISV shares. Bank of America started coverage on shares of Fiserv in a research note on Tuesday. They issued a “buy” rating for the company. SunTrust Banks raised their price target on shares of Fiserv from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, October 18th. ValuEngine cut shares of Fiserv from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of Fiserv from a “hold” rating to a “buy” rating and set a $117.00 price objective for the company in a research report on Monday, November 11th. Finally, Oppenheimer increased their target price on shares of Fiserv from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $108.24.
In other Fiserv news, CEO Jeffery W. Yabuki sold 25,000 shares of Fiserv stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $103.67, for a total transaction of $2,591,750.00. Following the sale, the chief executive officer now owns 271,229 shares of the company’s stock, valued at approximately $28,118,310.43. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Guy Chiarello sold 30,000 shares of Fiserv stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $114.28, for a total transaction of $3,428,400.00. Following the sale, the insider now directly owns 326,103 shares in the company, valued at approximately $37,267,050.84. The disclosure for this sale can be found here. Insiders have sold 123,000 shares of company stock valued at $13,573,170 in the last three months. Insiders own 1.40% 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; 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.
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