North Point Portfolio Managers Corp OH reduced its stake in Fiserv Inc (NASDAQ:FISV) by 2.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 226,033 shares of the business services provider’s stock after selling 5,466 shares during the period. Fiserv accounts for 3.8% of North Point Portfolio Managers Corp OH’s portfolio, making the stock its 4th largest position. North Point Portfolio Managers Corp OH owned approximately 0.06% of Fiserv worth $20,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also made changes to their positions in FISV. Egerton Capital UK LLP bought a new position in shares of Fiserv during the first quarter valued at approximately $568,121,000. Lazard Asset Management LLC increased its stake in shares of Fiserv by 857.8% during the first quarter. Lazard Asset Management LLC now owns 3,493,843 shares of the business services provider’s stock valued at $308,435,000 after purchasing an additional 3,129,050 shares in the last quarter. Findlay Park Partners LLP increased its stake in shares of Fiserv by 144.4% during the first quarter. Findlay Park Partners LLP now owns 3,850,000 shares of the business services provider’s stock valued at $339,878,000 after purchasing an additional 2,275,000 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Fiserv by 50.9% during the first quarter. Janus Henderson Group PLC now owns 4,060,675 shares of the business services provider’s stock valued at $358,489,000 after purchasing an additional 1,370,268 shares in the last quarter. Finally, Marshall Wace North America L.P. increased its stake in shares of Fiserv by 444.8% during the first quarter. Marshall Wace North America L.P. now owns 1,354,485 shares of the business services provider’s stock valued at $119,574,000 after purchasing an additional 1,105,887 shares in the last quarter. 87.39% of the stock is owned by institutional investors and hedge funds.
FISV stock traded up $1.35 on Friday, hitting $106.84. The company had a trading volume of 270,257 shares, compared to its average volume of 8,604,863. Fiserv Inc has a 12-month low of $68.45 and a 12-month high of $107.06. The company has a current ratio of 4.97, a quick ratio of 4.97 and a debt-to-equity ratio of 5.40. The stock’s 50-day simple moving average is $98.20 and its 200 day simple moving average is $89.55. The stock has a market cap of $41.71 billion, a price-to-earnings ratio of 34.42, a P/E/G ratio of 2.34 and a beta of 0.80.
Fiserv (NASDAQ:FISV) last released its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.02. Fiserv had a net margin of 16.08% and a return on equity of 53.08%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the firm earned $0.75 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. Research analysts forecast that Fiserv Inc will post 3.76 earnings per share for the current year.
FISV has been the subject of a number of analyst reports. Royal Bank of Canada set a $106.00 target price on shares of Fiserv and gave the company a “buy” rating in a research note on Friday, July 26th. SunTrust Banks raised shares of Fiserv from a “hold” rating to a “buy” rating and raised their target price for the company from $91.00 to $100.00 in a research note on Wednesday, June 5th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Fiserv from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Moffett Nathanson started coverage on shares of Fiserv in a report on Tuesday, May 21st. They set a “buy” rating and a $108.00 price target on the stock. Finally, Wedbush increased their price target on shares of Fiserv from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Fiserv has an average rating of “Buy” and a consensus target price of $97.88.
In other news, Chairman Jeffery W. Yabuki sold 20,000 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $103.20, for a total transaction of $2,064,000.00. Following the sale, the chairman now directly owns 330,629 shares in the company, valued at approximately $34,120,912.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffery W. Yabuki sold 2,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $88.95, for a total transaction of $177,900.00. Following the sale, the insider now owns 371,429 shares in the company, valued at $33,038,609.55. The disclosure for this sale can be found here. Insiders sold 62,000 shares of company stock worth $5,911,500 over the last quarter. Insiders own 1.40% of the company’s stock.
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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