Massmutual Trust Co. FSB ADV increased its position in Fiserv, Inc. (NASDAQ:FISV) by 6.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,628 shares of the business services provider’s stock after purchasing an additional 3,780 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Fiserv were worth $6,660,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Fiserv by 3.0% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,267 shares of the business services provider’s stock worth $337,000 after purchasing an additional 95 shares in the last quarter. Grace Capital raised its holdings in Fiserv by 2.0% in the 3rd quarter. Grace Capital now owns 4,930 shares of the business services provider’s stock valued at $508,000 after acquiring an additional 95 shares during the last quarter. SeaCrest Wealth Management LLC lifted its stake in Fiserv by 3.9% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 2,817 shares of the business services provider’s stock worth $290,000 after purchasing an additional 105 shares in the last quarter. Mutual Advisors LLC boosted its holdings in shares of Fiserv by 2.9% during the 2nd quarter. Mutual Advisors LLC now owns 4,021 shares of the business services provider’s stock worth $393,000 after purchasing an additional 115 shares during the last quarter. Finally, Resonant Capital Advisors LLC grew its position in shares of Fiserv by 3.9% in the second quarter. Resonant Capital Advisors LLC now owns 3,072 shares of the business services provider’s stock valued at $300,000 after purchasing an additional 116 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:FISV traded down $1.65 during midday trading on Monday, hitting $113.88. The stock had a trading volume of 56,693 shares, compared to its average volume of 4,650,608. Fiserv, Inc. has a 1 year low of $73.50 and a 1 year high of $125.05. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. The stock has a 50 day moving average price of $104.24 and a two-hundred day moving average price of $101.64. The company has a market capitalization of $77.46 billion, a PE ratio of 86.11, a P/E/G ratio of 1.41 and a beta of 0.77.
Fiserv (NASDAQ:FISV) last announced its quarterly earnings data on Tuesday, October 27th. The business services provider reported $1.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.05. Fiserv had a return on equity of 8.75% and a net margin of 6.01%. The company had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.56 billion. As a group, equities analysts expect that Fiserv, Inc. will post 4.43 EPS for the current year.
Fiserv announced that its Board of Directors has approved a share buyback plan on Thursday, November 19th that allows the company to repurchase 60,000,000 outstanding shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.
In other news, Chairman Jeffery W. Yabuki sold 2,200 shares of Fiserv stock in a transaction that occurred on Monday, November 16th. The shares were sold at an average price of $109.47, for a total transaction of $240,834.00. Also, Chairman Jeffery W. Yabuki sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 18th. The stock was sold at an average price of $109.06, for a total value of $3,271,800.00. Following the sale, the chairman now directly owns 195,153 shares in the company, valued at approximately $21,283,386.18. The disclosure for this sale can be found here. In the last three months, insiders sold 94,300 shares of company stock valued at $9,838,983. 1.60% of the stock is owned by corporate insiders.
A number of research firms have weighed in on FISV. Compass Point started coverage on Fiserv in a research note on Wednesday, September 16th. They set a “buy” rating and a $130.00 price objective on the stock. BidaskClub raised shares of Fiserv from a “sell” rating to a “hold” rating in a report on Friday, November 6th. Moffett Nathanson upgraded shares of Fiserv from a “neutral” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Thursday, November 19th. Mizuho boosted their target price on shares of Fiserv from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 10th. Finally, Raymond James raised their price target on shares of Fiserv from $119.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 28th. Seven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $125.00.
Fiserv, Inc, together with its subsidiaries, provides financial services technology worldwide. Its First Data segment provides merchant acquiring, e-commerce, mobile commerce, and other business solutions; credit card and loan account processing, commercial payments, customer communications, plastics solutions, customer service, and other products; and various network solutions and security, and risk and fraud management solutions.
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