Retirement Systems of Alabama Sells 745 Shares of Fiserv, Inc. (NASDAQ:FISV)
Retirement Systems of Alabama reduced its stake in shares of Fiserv, Inc. (NASDAQ:FISV) by 0.7% during the second quarter, Holdings Channel reports. The fund owned 102,973 shares of the business services provider’s stock after selling 745 shares during the period. Retirement Systems of Alabama’s holdings in Fiserv were worth $12,598,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of FISV. Gardiner Nancy B raised its stake in Fiserv by 6.5% in the first quarter. Gardiner Nancy B now owns 12,537 shares of the business services provider’s stock valued at $1,445,000 after buying an additional 762 shares during the last quarter. Old Mutual Global Investors UK Ltd. raised its stake in Fiserv by 155.5% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 381,807 shares of the business services provider’s stock valued at $44,026,000 after buying an additional 232,364 shares during the last quarter. British Columbia Investment Management Corp raised its stake in Fiserv by 6.3% in the first quarter. British Columbia Investment Management Corp now owns 84,563 shares of the business services provider’s stock valued at $9,751,000 after buying an additional 5,016 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in Fiserv by 25.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 16,179 shares of the business services provider’s stock valued at $1,866,000 after buying an additional 3,304 shares during the last quarter. Finally, University of Texas Investment Managment Co. purchased a new stake in Fiserv during the first quarter valued at about $184,000. 87.60% of the stock is currently owned by institutional investors.
Shares of Fiserv, Inc. (NASDAQ FISV) opened at 123.30 on Thursday. The firm has a market cap of $26.67 billion, a P/E ratio of 30.18 and a beta of 0.81. Fiserv, Inc. has a one year low of $92.81 and a one year high of $129.35. The stock’s 50 day moving average is $124.44 and its 200-day moving average is $118.91.
Fiserv (NASDAQ:FISV) last announced its quarterly earnings data on Tuesday, August 1st. The business services provider reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by $0.04. The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Fiserv had a net margin of 16.04% and a return on equity of 41.79%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 EPS. Analysts anticipate that Fiserv, Inc. will post $5.10 EPS for the current fiscal year.
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Several equities research analysts have recently issued reports on FISV shares. Zacks Investment Research raised shares of Fiserv from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research note on Wednesday, July 19th. Guggenheim raised shares of Fiserv from a “neutral” rating to a “buy” rating and increased their target price for the stock from $131.00 to $136.00 in a research note on Monday, July 17th. BidaskClub lowered shares of Fiserv from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Barclays PLC reaffirmed an “equal weight” rating and issued a $123.00 price target (up from $115.00) on shares of Fiserv in a research note on Wednesday, August 2nd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $123.00 price target on shares of Fiserv in a research note on Friday, April 28th. 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. The stock presently has an average rating of “Buy” and an average price target of $126.91.
In related news, insider Jeffery W. Yabuki sold 17,000 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $125.06, for a total transaction of $2,126,020.00. Following the transaction, the insider now owns 303,151 shares of the company’s stock, valued at $37,912,064.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 51,000 shares of company stock worth $6,339,810 in the last three months. Insiders own 1.80% of the company’s stock.
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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