Findlay Park Partners LLP Has $220.21 Million Stake in Fiserv, Inc. (FISV)
Findlay Park Partners LLP cut its holdings in shares of Fiserv, Inc. (NASDAQ:FISV) by 29.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,800,000 shares of the business services provider’s stock after selling 750,000 shares during the period. Fiserv makes up about 2.2% of Findlay Park Partners LLP’s investment portfolio, making the stock its 20th largest holding. Findlay Park Partners LLP owned about 0.83% of Fiserv worth $220,212,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of FISV. Russell Investments Group Ltd. boosted its position in shares of Fiserv by 94.9% during the first quarter. Russell Investments Group Ltd. now owns 84,167 shares of the business services provider’s stock worth $9,706,000 after buying an additional 40,981 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Fiserv by 37,915.4% during the first quarter. Canada Pension Plan Investment Board now owns 9,884 shares of the business services provider’s stock worth $1,140,000 after buying an additional 9,858 shares during the period. Empire Life Investments Inc. acquired a new position in shares of Fiserv during the first quarter worth approximately $13,650,000. Daiwa Securities Group Inc. boosted its position in shares of Fiserv by 325.0% during the first quarter. Daiwa Securities Group Inc. now owns 23,800 shares of the business services provider’s stock worth $2,744,000 after buying an additional 18,200 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of Fiserv by 15.6% during the first quarter. Massmutual Trust Co. FSB ADV now owns 38,507 shares of the business services provider’s stock worth $4,440,000 after buying an additional 5,192 shares during the period. Institutional investors and hedge funds own 87.72% of the company’s stock.
Shares of Fiserv, Inc. (FISV) traded up 0.01% during mid-day trading on Thursday, reaching $124.00. 119,767 shares of the company’s stock traded hands. The firm has a market cap of $26.10 billion, a price-to-earnings ratio of 30.35 and a beta of 0.82. Fiserv, Inc. has a 52 week low of $92.81 and a 52 week high of $129.35. The company’s 50 day moving average is $123.73 and its 200-day moving average is $121.20.
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 analysts’ consensus estimates of $1.23 by ($0.04). Fiserv had a net margin of 16.04% and a return on equity of 41.79%. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the business posted $1.08 earnings per share. Fiserv’s revenue was up 1.7% compared to the same quarter last year. Equities analysts expect that Fiserv, Inc. will post $5.10 earnings per share for the current fiscal year.
In other Fiserv news, insider Jeffery W. Yabuki sold 17,000 shares of the stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $126.02, for a total value of $2,142,340.00. Following the sale, the insider now directly owns 286,151 shares in the company, valued at $36,060,749.02. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 51,000 shares of company stock worth $6,342,700. Insiders own 1.80% of the company’s stock.
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Several brokerages have recently issued reports on FISV. BidaskClub upgraded Fiserv from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. BMO Capital Markets upped their target price on Fiserv from $112.00 to $133.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada restated a “sector perform” rating and issued a $128.00 target price (up from $123.00) on shares of Fiserv in a research report on Tuesday, August 8th. Zacks Investment Research upgraded Fiserv from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Wednesday, July 19th. Finally, Barclays PLC restated an “equal weight” rating and issued a $123.00 target price (up from $115.00) on shares of Fiserv in a research report on Wednesday, August 2nd. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Fiserv currently has an average rating of “Hold” and a consensus price target of $127.05.
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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