Fiserv Inc (NASDAQ:FISV) Shares Sold by Riverbridge Partners LLC
Riverbridge Partners LLC lowered its position in shares of Fiserv Inc (NASDAQ:FISV) by 14.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 625,959 shares of the business services provider’s stock after selling 104,767 shares during the quarter. Fiserv comprises about 1.3% of Riverbridge Partners LLC’s portfolio, making the stock its 27th largest holding. Riverbridge Partners LLC’s holdings in Fiserv were worth $72,380,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of FISV. Kohlberg Kravis Roberts & Co. L.P. acquired a new stake in Fiserv during the 3rd quarter worth about $11,438,995,000. State Street Corp lifted its position in Fiserv by 44.0% during the 3rd quarter. State Street Corp now owns 23,673,283 shares of the business services provider’s stock worth $2,452,315,000 after acquiring an additional 7,234,231 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Fiserv by 8.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 51,136,590 shares of the business services provider’s stock worth $4,661,611,000 after acquiring an additional 3,933,642 shares during the period. Waddell & Reed Financial Inc. lifted its position in Fiserv by 302.5% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 2,670,227 shares of the business services provider’s stock worth $243,418,000 after acquiring an additional 2,006,798 shares during the period. Finally, Nuveen Asset Management LLC lifted its position in Fiserv by 2,018.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,904,545 shares of the business services provider’s stock worth $173,618,000 after acquiring an additional 1,814,639 shares during the period. 92.66% of the stock is owned by institutional investors.
In other Fiserv news, CEO Jeffery W. Yabuki sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $106.33, for a total transaction of $2,658,250.00. Following the completion of the sale, the chief executive officer now directly owns 257,829 shares in the company, valued at approximately $27,414,957.57. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jeffery W. Yabuki sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $114.29, for a total value of $5,143,050.00. Following the sale, the chief executive officer now owns 869,809 shares of the company’s stock, valued at $99,410,470.61. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 171,500 shares of company stock valued at $19,435,640. 1.40% of the stock is owned by company insiders.
Fiserv (NASDAQ:FISV) last announced its quarterly earnings results on Wednesday, November 6th. The business services provider reported $1.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.02. Fiserv had a return on equity of 16.73% and a net margin of 12.11%. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the previous year, the business earned $0.87 EPS. Fiserv’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, analysts forecast that Fiserv Inc will post 4.04 EPS for the current year.
A number of equities analysts have weighed in on the company. SunTrust Banks lifted their price objective on Fiserv from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Zacks Investment Research upgraded Fiserv from a “hold” rating to a “buy” rating and set a $117.00 price objective for the company in a research note on Monday, November 11th. Morgan Stanley assumed coverage on Fiserv in a research note on Monday, December 16th. They set an “equal weight” rating and a $121.00 price objective for the company. Stephens lifted their price objective on Fiserv from $117.00 to $124.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, ValuEngine lowered Fiserv from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $110.98.
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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