QS Investors LLC Lowers Stake in Fiserv Inc (FISV)
QS Investors LLC trimmed its position in shares of Fiserv Inc (NASDAQ:FISV) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,928 shares of the business services provider’s stock after selling 3,224 shares during the quarter. QS Investors LLC’s holdings in Fiserv were worth $6,023,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of FISV. Ardevora Asset Management LLP acquired a new position in shares of Fiserv during the third quarter worth approximately $35,645,000. Ninepoint Partners LP acquired a new position in shares of Fiserv during the third quarter worth approximately $27,056,000. PGGM Investments acquired a new position in shares of Fiserv during the fourth quarter worth approximately $27,026,000. BlackRock Inc. raised its position in shares of Fiserv by 1.1% during the fourth quarter. BlackRock Inc. now owns 15,046,546 shares of the business services provider’s stock worth $1,973,053,000 after purchasing an additional 166,837 shares during the period. Finally, Sawgrass Asset Management LLC acquired a new position in shares of Fiserv during the third quarter worth approximately $17,228,000. 89.49% of the stock is currently owned by institutional investors.
A number of brokerages have recently weighed in on FISV. BMO Capital Markets upped their target price on Fiserv from $133.00 to $152.00 and gave the stock an “average” rating in a research report on Thursday, February 8th. ValuEngine lowered Fiserv from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Stephens reaffirmed a “hold” rating and set a $146.00 target price on shares of Fiserv in a research report on Friday, February 9th. Guggenheim reaffirmed a “buy” rating and set a $160.00 target price on shares of Fiserv in a research report on Monday, January 29th. Finally, Argus set a $148.00 price target on Fiserv and gave the company a “buy” rating in a research report on Friday, January 12th. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $140.73.
Fiserv shares are set to split on Tuesday, March 20th. The 2-1 split was announced on Thursday, February 22nd. The newly issued shares will be payable to shareholders after the market closes on Monday, March 19th.
Fiserv (NASDAQ:FISV) last released its quarterly earnings results on Wednesday, February 7th. The business services provider reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.03. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.51 billion. Fiserv had a return on equity of 44.58% and a net margin of 21.88%. Fiserv’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.16 EPS. equities analysts anticipate that Fiserv Inc will post 6.23 earnings per share for the current fiscal year.
In other Fiserv news, Director Denis Oleary sold 12,160 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $142.64, for a total value of $1,734,502.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harry Disimone acquired 353 shares of Fiserv stock in a transaction on Wednesday, February 21st. The stock was acquired at an average price of $141.59 per share, with a total value of $49,981.27. Following the purchase, the director now directly owns 154 shares in the company, valued at $21,804.86. The disclosure for this purchase can be found here. Insiders sold a total of 73,160 shares of company stock valued at $10,037,582 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.
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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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