Fiserv, Inc. (NASDAQ:FISV) Stake Boosted by Great West Life Assurance Co. Can
Great West Life Assurance Co. Can boosted its position in Fiserv, Inc. (NASDAQ:FISV) by 10.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 214,954 shares of the business services provider’s stock after buying an additional 20,961 shares during the period. Great West Life Assurance Co. Can’s holdings in Fiserv were worth $26,261,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of FISV. First Manhattan Co. raised its position in shares of Fiserv by 14.9% in the first quarter. First Manhattan Co. now owns 1,034 shares of the business services provider’s stock worth $102,000 after buying an additional 134 shares during the period. Advisory Services Network LLC purchased a new position in shares of Fiserv during the first quarter worth about $131,000. Trust Co. of Vermont raised its position in shares of Fiserv by 53.3% in the second quarter. Trust Co. of Vermont now owns 1,303 shares of the business services provider’s stock worth $159,000 after buying an additional 453 shares during the period. Morgan Dempsey Capital Management LLC raised its position in shares of Fiserv by 2.3% in the first quarter. Morgan Dempsey Capital Management LLC now owns 1,480 shares of the business services provider’s stock worth $171,000 after buying an additional 33 shares during the period. Finally, University of Texas Investment Managment Co. purchased a new position in shares of Fiserv during the first quarter worth about $184,000. Institutional investors and hedge funds own 87.72% of the company’s stock.
Shares of Fiserv, Inc. (FISV) opened at 123.08 on Friday. The firm has a market capitalization of $26.62 billion, a price-to-earnings ratio of 30.13 and a beta of 0.81. Fiserv, Inc. has a 52-week low of $92.81 and a 52-week high of $129.35. The stock has a 50 day moving average of $124.64 and a 200 day moving average of $118.43.
Fiserv (NASDAQ:FISV) last issued its quarterly earnings data on Tuesday, August 1st. The business services provider reported $1.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.23 by $0.04. Fiserv had a return on equity of 41.79% and a net margin of 16.04%. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the firm posted $1.08 earnings per share. Fiserv’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, analysts predict that Fiserv, Inc. will post $5.10 EPS for the current fiscal year.
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Several brokerages have weighed in on FISV. BidaskClub upgraded shares of Fiserv from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Cowen and Company restated a “hold” rating and set a $115.00 target price on shares of Fiserv in a research report on Thursday. Royal Bank Of Canada upped their target price on shares of Fiserv from $123.00 to $128.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Barclays PLC restated an “equal weight” rating and set a $123.00 target price (up from $115.00) on shares of Fiserv in a research report on Wednesday. Finally, BMO Capital Markets upped their target price on shares of Fiserv from $112.00 to $133.00 and gave the stock a “market perform” rating in a research report on Tuesday. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Fiserv has an average rating of “Buy” and an average price target of $126.91.
In other news, insider Jeffery W. Yabuki sold 17,000 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $125.06, for a total value of $2,126,020.00. Following the completion of the sale, the insider now directly owns 303,151 shares in the company, valued at $37,912,064.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 51,000 shares of company stock valued at $6,339,810 over the last 90 days. 1.90% of the stock is owned by corporate insiders.
Fiserv, Inc is a provider of financial services technology. The Company provides account processing systems; electronic payments processing products and services, such as electronic bill payments, transaction processing, account-to-account transfers, and person-to-person payments; Internet and mobile banking systems, and related services, including document and payment card production and distribution, and lending and risk management products and services.
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