Pennsylvania Trust Co Reduces Stake in Fiserv Inc. (FISV)
Pennsylvania Trust Co cut its position in Fiserv Inc. (NASDAQ:FISV) by 16.8% during the third quarter, Holdings Channel reports. The institutional investor owned 84,252 shares of the company’s stock after selling 17,066 shares during the period. Pennsylvania Trust Co’s holdings in Fiserv were worth $8,381,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in FISV. Franklin Resources Inc. raised its position in shares of Fiserv by 151.9% in the second quarter. Franklin Resources Inc. now owns 875,458 shares of the company’s stock worth $95,172,000 after buying an additional 527,935 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Fiserv by 7.8% in the second quarter. BlackRock Fund Advisors now owns 4,971,846 shares of the company’s stock worth $540,589,000 after buying an additional 360,025 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Fiserv during the second quarter worth $36,230,000. FMR LLC raised its position in shares of Fiserv by 2.9% in the second quarter. FMR LLC now owns 10,311,669 shares of the company’s stock worth $1,121,188,000 after buying an additional 295,107 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in shares of Fiserv by 417.8% in the second quarter. Schroder Investment Management Group now owns 333,576 shares of the company’s stock worth $36,270,000 after buying an additional 269,153 shares in the last quarter. Institutional investors and hedge funds own 85.86% of the company’s stock.
Shares of Fiserv Inc. (NASDAQ:FISV) traded up 0.258% on Tuesday, hitting $106.885. The stock had a trading volume of 388,118 shares. The company has a 50-day moving average of $100.95 and a 200-day moving average of $103.73. Fiserv Inc. has a 52-week low of $85.63 and a 52-week high of $111.51. The company has a market cap of $23.20 billion, a P/E ratio of 26.808 and a beta of 0.82.
Fiserv (NASDAQ:FISV) last issued its earnings results on Wednesday, October 26th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.01. Fiserv had a return on equity of 36.84% and a net margin of 16.61%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. On average, equities analysts anticipate that Fiserv Inc. will post $4.45 EPS for the current fiscal year.
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Several brokerages have recently commented on FISV. Monness Crespi & Hardt upgraded Fiserv from a “neutral” rating to a “buy” rating and set a $115.00 price objective on the stock in a research report on Tuesday, October 4th. Jefferies Group reiterated a “buy” rating and set a $121.00 price objective on shares of Fiserv in a research report on Monday, September 26th. Wedbush reiterated an “outperform” rating and set a $115.00 price objective on shares of Fiserv in a research report on Thursday, September 8th. William Blair lowered Fiserv from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 27th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Fiserv from a “hold” rating to a “buy” rating and set a $117.00 price objective on the stock in a research report on Thursday, August 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $107.35.
In related news, insider Devin Mcgranahan acquired 15,000 shares of Fiserv stock in a transaction on Wednesday, November 2nd. The shares were bought at an average cost of $99.21 per share, with a total value of $1,488,150.00. Following the completion of the purchase, the insider now directly owns 25,155 shares of the company’s stock, valued at approximately $2,495,627.55. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffery W. Yabuki sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $100.46, for a total value of $1,205,520.00. Following the sale, the insider now directly owns 323,994 shares in the company, valued at $32,548,437.24. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
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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