Fiserv, Inc. (FISV) Position Lowered by Empire Life Investments Inc.
Empire Life Investments Inc. decreased its position in Fiserv, Inc. (NASDAQ:FISV) by 70.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,424 shares of the business services provider’s stock after selling 80,329 shares during the quarter. Empire Life Investments Inc.’s holdings in Fiserv were worth $4,439,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC grew its holdings in Fiserv by 8.2% during the 2nd quarter. Parallel Advisors LLC now owns 849 shares of the business services provider’s stock valued at $109,000 after buying an additional 64 shares in the last quarter. Acrospire Investment Management LLC purchased a new position in shares of Fiserv in the 2nd quarter worth approximately $122,000. Sun Life Financial INC boosted its holdings in shares of Fiserv by 11,838.5% in the 2nd quarter. Sun Life Financial INC now owns 1,552 shares of the business services provider’s stock worth $190,000 after purchasing an additional 1,539 shares during the period. Pegasus Partners Ltd. purchased a new position in shares of Fiserv in the 2nd quarter worth approximately $200,000. Finally, Tdam USA Inc. purchased a new position in shares of Fiserv in the 2nd quarter worth approximately $201,000. 88.62% of the stock is currently owned by institutional investors.
In other news, Director Kim M. Robak sold 6,124 shares of Fiserv stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $124.54, for a total transaction of $762,682.96. Following the completion of the sale, the director now directly owns 42,141 shares in the company, valued at approximately $5,248,240.14. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeffery W. Yabuki sold 17,000 shares of Fiserv stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $127.22, for a total value of $2,162,740.00. Following the transaction, the insider now owns 313,835 shares of the company’s stock, valued at $39,926,088.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,124 shares of company stock valued at $5,316,303. Insiders own 1.80% of the company’s stock.
Several brokerages recently weighed in on FISV. BidaskClub downgraded Fiserv from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 22nd. Robert W. Baird reiterated a “buy” rating and set a $136.00 price target on shares of Fiserv in a research note on Friday, September 8th. Royal Bank Of Canada restated a “hold” rating and issued a $128.00 target price on shares of Fiserv in a research note on Wednesday, September 6th. Zacks Investment Research upgraded Fiserv from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. Finally, SunTrust Banks restated a “hold” rating and issued a $130.00 target price on shares of Fiserv in a research note on Wednesday, November 1st. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $130.41.
Shares of Fiserv, Inc. (NASDAQ FISV) opened at $131.20 on Friday. Fiserv, Inc. has a 52 week low of $104.23 and a 52 week high of $133.11. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.14. The stock has a market capitalization of $27,275.31, a price-to-earnings ratio of 26.88, a PEG ratio of 2.24 and a beta of 0.82.
Fiserv (NASDAQ:FISV) last released its quarterly earnings results on Tuesday, October 31st. The business services provider reported $1.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($0.03). Fiserv had a return on equity of 43.56% and a net margin of 16.31%. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the prior year, the business earned $1.14 EPS. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. analysts anticipate that Fiserv, Inc. will post 5.08 EPS for the current year.
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Fiserv Company Profile
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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