Fiserv, Inc. (FISV) Shares Sold by M&T Bank Corp
M&T Bank Corp decreased its stake in Fiserv, Inc. (NASDAQ:FISV) by 5.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,219 shares of the business services provider’s stock after selling 3,928 shares during the quarter. M&T Bank Corp’s holdings in Fiserv were worth $8,101,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Savant Capital LLC grew its position in shares of Fiserv by 0.5% in the first quarter. Savant Capital LLC now owns 2,138 shares of the business services provider’s stock valued at $247,000 after purchasing an additional 10 shares during the period. Elefante Mark B lifted its stake in shares of Fiserv by 0.3% in the second quarter. Elefante Mark B now owns 5,715 shares of the business services provider’s stock worth $699,000 after buying an additional 15 shares in the last quarter. Morgan Dempsey Capital Management LLC lifted its stake 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 in the last quarter. Nwam LLC lifted its stake in shares of Fiserv by 1.9% in the second quarter. Nwam LLC now owns 1,871 shares of the business services provider’s stock worth $229,000 after buying an additional 35 shares in the last quarter. Finally, Peoples Bank OH lifted its stake in shares of Fiserv by 0.8% in the first quarter. Peoples Bank OH now owns 6,170 shares of the business services provider’s stock worth $711,000 after buying an additional 50 shares in the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.
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Several research firms have recently weighed in on FISV. BidaskClub raised shares of Fiserv from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. BMO Capital Markets raised their price target on shares of Fiserv from $112.00 to $133.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada reissued a “sector perform” rating and issued a $128.00 price target (up from $123.00) on shares of Fiserv in a research note on Tuesday, August 8th. Zacks Investment Research raised shares of Fiserv from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research note on Wednesday, July 19th. Finally, Barclays PLC reissued 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. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $127.05.
In other news, Director Kim M. Robak sold 6,124 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $124.54, for a total transaction of $762,682.96. Following the transaction, the director now directly owns 42,141 shares in the company, valued at approximately $5,248,240.14. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jeffery W. Yabuki sold 17,000 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $122.02, for a total transaction of $2,074,340.00. Following the transaction, the insider now owns 269,151 shares in the company, valued at $32,841,805.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,124 shares of company stock worth $7,113,543. Insiders own 1.80% of the company’s stock.
Fiserv, Inc. (NASDAQ:FISV) opened at 126.23 on Friday. The firm’s 50-day moving average is $123.36 and its 200-day moving average is $121.49. The stock has a market capitalization of $26.57 billion, a P/E ratio of 30.90 and a beta of 0.82. Fiserv, Inc. has a 52 week low of $92.81 and a 52 week high of $129.35.
Fiserv (NASDAQ:FISV) last released its quarterly earnings results on Tuesday, August 1st. The business services provider reported $1.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($0.04). The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.42 billion. Fiserv had a return on equity of 41.79% and a net margin of 16.04%. Fiserv’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.08 earnings per share. On average, equities research analysts predict that Fiserv, Inc. will post $5.10 EPS for the current fiscal year.
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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