Fiserv, Inc. (FISV) Shares Sold by CCM Investment Advisers LLC
CCM Investment Advisers LLC reduced its stake in shares of Fiserv, Inc. (NASDAQ:FISV) by 8.7% during the second quarter, Holdings Channel reports. The fund owned 88,769 shares of the business services provider’s stock after selling 8,479 shares during the period. Fiserv comprises approximately 2.1% of CCM Investment Advisers LLC’s investment portfolio, making the stock its 8th largest position. CCM Investment Advisers LLC’s holdings in Fiserv were worth $10,859,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Fiserv by 1.2% in the first quarter. Vanguard Group Inc. now owns 20,783,290 shares of the business services provider’s stock valued at $2,396,522,000 after buying an additional 255,329 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Fiserv by 2,669.4% in the first quarter. BlackRock Inc. now owns 14,345,526 shares of the business services provider’s stock valued at $1,654,185,000 after buying an additional 13,827,530 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Fiserv by 2.9% in the first quarter. Alliancebernstein L.P. now owns 3,295,500 shares of the business services provider’s stock valued at $380,004,000 after buying an additional 92,251 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Fiserv by 4.8% in the first quarter. Geode Capital Management LLC now owns 2,374,758 shares of the business services provider’s stock valued at $273,485,000 after buying an additional 109,251 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Fiserv by 0.3% in the first quarter. American Century Companies Inc. now owns 1,409,340 shares of the business services provider’s stock valued at $162,511,000 after buying an additional 4,442 shares during the last quarter. 87.60% of the stock is owned by institutional investors.
Shares of Fiserv, Inc. (FISV) opened at 122.84 on Friday. The company has a market cap of $25.85 billion, a price-to-earnings ratio of 30.07 and a beta of 0.81. Fiserv, Inc. has a 12 month low of $92.81 and a 12 month high of $129.35. The company’s 50 day moving average price is $124.30 and its 200 day moving average price is $119.03.
Fiserv (NASDAQ:FISV) last posted its earnings results on Tuesday, August 1st. The business services provider reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the company posted $1.08 EPS. The firm’s revenue was up 1.7% on a year-over-year basis. On average, equities analysts expect that Fiserv, Inc. will post $5.10 EPS for the current fiscal year.
FISV has been the subject of several recent research reports. Royal Bank Of Canada reissued a “sector perform” rating and issued a $128.00 price target (up previously from $123.00) on shares of Fiserv in a research note on Tuesday. Zacks Investment Research cut Fiserv from a “buy” rating to a “hold” rating in a research note on Tuesday, April 18th. Credit Suisse Group increased their price target on Fiserv from $123.00 to $126.00 and gave the company a “neutral” rating in a research note on Wednesday, August 2nd. Cantor Fitzgerald increased their price target on Fiserv from $107.00 to $118.00 and gave the company a “neutral” rating in a research note on Friday, April 28th. Finally, Guggenheim raised Fiserv from a “neutral” rating to a “buy” rating and increased their price target for the company from $131.00 to $136.00 in a research note on Monday, July 17th. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $126.91.
In other Fiserv news, insider Jeffery W. Yabuki sold 17,000 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $126.02, for a total transaction of $2,142,340.00. Following the transaction, the insider now owns 286,151 shares in the company, valued at approximately $36,060,749.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 51,000 shares of company stock worth $6,339,810 in the last quarter. Company 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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