Piedmont Investment Advisors Inc. Boosts Stake in Fiserv Inc (FISV)
Piedmont Investment Advisors Inc. lifted its position in shares of Fiserv Inc (NASDAQ:FISV) by 1.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 35,336 shares of the business services provider’s stock after acquiring an additional 591 shares during the quarter. Piedmont Investment Advisors Inc.’s holdings in Fiserv were worth $3,119,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. We Are One Seven LLC bought a new position in Fiserv in the 4th quarter worth about $27,000. Sontag Advisory LLC bought a new position in Fiserv in the 4th quarter worth about $27,000. Destination Wealth Management bought a new position in Fiserv in the 4th quarter worth about $30,000. JOYN Advisors Inc. boosted its stake in Fiserv by 80.0% in the 4th quarter. JOYN Advisors Inc. now owns 405 shares of the business services provider’s stock worth $30,000 after purchasing an additional 180 shares during the period. Finally, WESPAC Advisors SoCal LLC bought a new position in Fiserv in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 94.99% of the company’s stock.
Several brokerages have commented on FISV. Royal Bank of Canada upgraded Fiserv from a “sector perform” rating to an “outperform” rating and set a $85.50 target price for the company in a research note on Monday, January 28th. BidaskClub downgraded Fiserv from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st. Buckingham Research began coverage on Fiserv in a research note on Thursday, February 7th. They issued a “buy” rating and a $100.00 target price for the company. Cantor Fitzgerald restated a “hold” rating and issued a $83.00 target price on shares of Fiserv in a research note on Friday, February 8th. Finally, Zacks Investment Research downgraded Fiserv from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $89.59.
Fiserv (NASDAQ:FISV) last released its quarterly earnings results on Tuesday, April 30th. The business services provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.02. Fiserv had a return on equity of 50.83% and a net margin of 16.81%. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter last year, the firm posted $0.76 EPS. The company’s revenue was up 4.3% compared to the same quarter last year. As a group, research analysts expect that Fiserv Inc will post 3.46 earnings per share for the current fiscal year.
In related news, Director Kim M. Robak sold 10,904 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $87.01, for a total transaction of $948,757.04. Following the transaction, the director now directly owns 85,610 shares of the company’s stock, valued at approximately $7,448,926.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeffery W. Yabuki sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $88.95, for a total value of $177,900.00. Following the transaction, the insider now directly owns 371,429 shares in the company, valued at $33,038,609.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 129,912 shares of company stock worth $11,034,771. Insiders own 1.40% of the company’s stock.
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Fiserv, Inc, together with its subsidiaries, provides financial services technology worldwide. The company's Payments and Industry Products segment provides electronic bill payment and presentment services; Internet and mobile banking software and services; account-to-account transfers; person-to-person payment services; debit and credit card processing and services; payments infrastructure services; and other electronic payments software and services.
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