Fiserv, Inc. (NASDAQ:FISV) Stake Reduced by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. reduced its position in Fiserv, Inc. (NASDAQ:FISV) by 11.3% during the second quarter, Holdings Channel reports. The fund owned 32,491 shares of the business services provider’s stock after selling 4,150 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Fiserv were worth $3,975,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the company. Chicago Partners Investment Group LLC bought a new position in Fiserv during the second quarter worth $104,000. First Manhattan Co. increased its position in 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 in the last quarter. Advisory Services Network LLC bought a new position in Fiserv during the first quarter worth $131,000. Trust Co. of Vermont increased its position in 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 in the last quarter. Finally, Morgan Dempsey Capital Management LLC increased its position in 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 in the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.
Shares of Fiserv, Inc. (NASDAQ FISV) opened at 122.84 on Friday. The firm has a 50-day moving average of $124.30 and a 200-day moving average of $119.03. 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 one year low of $92.81 and a one year high of $129.35.
Fiserv (NASDAQ:FISV) last posted 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 net margin of 16.04% and a return on equity of 41.79%. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the firm earned $1.08 EPS. The company’s revenue was up 1.7% on a year-over-year basis. Equities research analysts forecast that Fiserv, Inc. will post $5.10 EPS for the current fiscal year.
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FISV has been the topic of a number of recent research reports. Cowen and Company restated a “hold” rating and set a $115.00 price target on shares of Fiserv in a research note on Thursday, August 3rd. Royal Bank Of Canada upped their price target on shares of Fiserv from $123.00 to $128.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 2nd. Barclays PLC restated an “equal weight” rating and set a $123.00 price target (up from $115.00) on shares of Fiserv in a research note on Wednesday, August 2nd. BMO Capital Markets upped their price target on shares of Fiserv from $112.00 to $133.00 and gave the company a “market perform” rating in a research note on Tuesday, August 1st. Finally, Credit Suisse Group upped their price target on shares of Fiserv from $123.00 to $126.00 and gave the company a “neutral” rating in a research note on Wednesday, August 2nd. 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’s stock. The stock presently has an average rating of “Buy” and an average target price of $126.91.
In other Fiserv 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 transaction of $2,126,020.00. Following the transaction, the insider now owns 303,151 shares in the company, valued at $37,912,064.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 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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