CIBC Asset Management Inc cut its stake in Fiserv, Inc. (NASDAQ:FISV) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 107,407 shares of the business services provider’s stock after selling 601 shares during the quarter. CIBC Asset Management Inc owned 0.05% of Fiserv worth $13,851,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC raised its stake in shares of Fiserv by 8.2% in the second quarter. Parallel Advisors LLC now owns 849 shares of the business services provider’s stock worth $109,000 after purchasing an additional 64 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new stake in shares of Fiserv in the second quarter worth approximately $104,000. Acrospire Investment Management LLC purchased a new stake in shares of Fiserv in the second quarter worth approximately $122,000. Trust Co. of Vermont raised its stake in shares of Fiserv by 53.3% in the second quarter. Trust Co. of Vermont now owns 1,303 shares of the business services provider’s stock worth $159,000 after purchasing an additional 453 shares during the last quarter. Finally, Sun Life Financial INC raised its stake in shares of Fiserv by 11,838.5% in the second 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 last quarter. 89.41% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on the company. Barclays PLC reaffirmed an “equal weight” rating and issued a $123.00 target price (up from $115.00) on shares of Fiserv in a report on Wednesday, August 2nd. BidaskClub raised Fiserv from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Robert W. Baird reaffirmed an “outperform” rating and issued a $146.00 target price (up from $136.00) on shares of Fiserv in a report on Tuesday, October 10th. Zacks Investment Research raised Fiserv from a “sell” rating to a “hold” rating in a report on Monday, October 16th. Finally, SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $130.00 target price on shares of Fiserv in a report on Wednesday, November 1st. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Fiserv presently has a consensus rating of “Hold” and a consensus target price of $128.45.
Shares of Fiserv, Inc. (FISV) traded up $0.16 during midday trading on Tuesday, reaching $128.16. The company’s stock had a trading volume of 693,400 shares, compared to its average volume of 867,757. Fiserv, Inc. has a 1-year low of $100.03 and a 1-year high of $130.20. The company has a market capitalization of $26,675.12, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 2.19 and a beta of 0.82. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.14.
Fiserv (NASDAQ:FISV) last announced its quarterly earnings data on Tuesday, October 31st. The business services provider reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.03). Fiserv had a net margin of 16.31% and a return on equity of 43.56%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the company posted $1.14 earnings per share. Fiserv’s revenue for the quarter was up 1.4% on a year-over-year basis. equities research analysts anticipate that Fiserv, Inc. will post 5.08 earnings per share for the current fiscal year.
In other news, Director Kim M. Robak sold 6,124 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $124.54, for a total value of $762,682.96. Following the completion of the transaction, the director now directly owns 42,141 shares of the company’s stock, valued at $5,248,240.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffery W. Yabuki sold 17,000 shares of the firm’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $125.54, for a total value of $2,134,180.00. Following the completion of the transaction, the insider now directly owns 330,835 shares of the company’s stock, valued at $41,533,025.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,124 shares of company stock valued at $7,133,943. 1.80% of the stock is owned by corporate insiders.
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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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