Quantitative Systematic Strategies LLC Invests $250,000 in Fiserv Inc. (FISV)
Quantitative Systematic Strategies LLC acquired a new stake in shares of Fiserv Inc. (NASDAQ:FISV) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,347 shares of the company’s stock, valued at approximately $250,000.
A number of other hedge funds have also recently made changes to their positions in the stock. Financial Architects Inc raised its stake in shares of Fiserv by 957.0% in the second quarter. Financial Architects Inc now owns 1,279 shares of the company’s stock valued at $139,000 after buying an additional 1,158 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in shares of Fiserv during the first quarter valued at $141,000. First Manhattan Co. raised its stake in shares of Fiserv by 8.9% in the second quarter. First Manhattan Co. now owns 1,634 shares of the company’s stock valued at $177,000 after buying an additional 134 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in shares of Fiserv during the first quarter valued at $200,000. Finally, Franklin Street Advisors Inc. NC purchased a new stake in shares of Fiserv during the second quarter valued at $210,000. 87.25% of the stock is owned by hedge funds and other institutional investors.
Shares of Fiserv Inc. (NASDAQ:FISV) traded up 0.33% during midday trading on Friday, reaching $100.06. The company had a trading volume of 939,365 shares. The company has a market capitalization of $21.99 billion, a P/E ratio of 25.40 and a beta of 0.91. The firm’s 50 day moving average price is $100.88 and its 200-day moving average price is $103.59. Fiserv Inc. has a 12 month low of $85.63 and a 12 month high of $111.51.
Fiserv (NASDAQ:FISV) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.01. Fiserv had a net margin of 16.89% and a return on equity of 35.52%. The firm earned $1.36 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the business posted $0.95 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. Analysts anticipate that Fiserv Inc. will post $4.44 earnings per share for the current fiscal year.
Several brokerages recently weighed in on FISV. Jefferies Group reissued a “buy” rating and issued a $121.00 price objective on shares of Fiserv in a report on Monday, September 26th. Barclays PLC boosted their price objective on Fiserv from $100.00 to $104.00 and gave the company an “equal weight” rating in a report on Wednesday, August 3rd. Zacks Investment Research lowered Fiserv from a “buy” rating to a “hold” rating in a report on Monday, August 8th. Credit Suisse Group AG reissued a “hold” rating and issued a $101.00 price objective on shares of Fiserv in a report on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. reissued a “hold” rating and issued a $112.00 price objective on shares of Fiserv in a report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. Fiserv presently has an average rating of “Hold” and a consensus target price of $105.71.
In related news, insider Rahul Gupta sold 15,225 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $101.02, for a total value of $1,538,029.50. Following the completion of the transaction, the insider now owns 66,129 shares of the company’s stock, valued at $6,680,351.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffery W. Yabuki sold 12,000 shares of the stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $100.46, for a total transaction of $1,205,520.00. Following the completion of the transaction, the insider now directly owns 323,994 shares of the company’s stock, valued at approximately $32,548,437.24. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.
Fiserv Company Profile
Fiserv, Inc is a provider of financial services technology. The Company operates through two segments: Payments and Industry Products (Payments) and Financial Institution Services (Financial). The Payments segment provides debit and credit card processing and services, electronic bill payment and presentment services, Internet and mobile banking software and services, person-to-person payment services, and other electronic payments software and services.
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