Fred Alger Management Inc. decreased its holdings in shares of Fiserv Inc (NASDAQ:FISV) by 30.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 39,242 shares of the business services provider’s stock after selling 17,087 shares during the period. Fred Alger Management Inc.’s holdings in Fiserv were worth $5,146,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. ARK Investment Management LLC purchased a new stake in Fiserv in the fourth quarter valued at approximately $118,000. Coastline Trust Co purchased a new stake in Fiserv in the third quarter valued at approximately $202,000. Univest Corp of Pennsylvania purchased a new stake in Fiserv in the fourth quarter valued at approximately $202,000. Associated Banc Corp purchased a new stake in Fiserv in the third quarter valued at approximately $261,000. Finally, Claraphi Advisory Network LLC purchased a new stake in Fiserv in the fourth quarter valued at approximately $267,000. Institutional investors and hedge funds own 89.49% of the company’s stock.
Fiserv Inc (FISV) opened at $148.23 on Monday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $30,625.49, a P/E ratio of 28.95, a PEG ratio of 2.07 and a beta of 0.83. Fiserv Inc has a 52 week low of $113.29 and a 52 week high of $148.42.
Fiserv (NASDAQ:FISV) last announced its earnings results on Wednesday, February 7th. The business services provider reported $1.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.03. Fiserv had a return on equity of 44.58% and a net margin of 21.88%. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the prior year, the company posted $1.16 EPS. The business’s quarterly revenue was up 5.9% on a year-over-year basis. research analysts anticipate that Fiserv Inc will post 6.23 earnings per share for the current year.
A number of brokerages recently commented on FISV. ValuEngine lowered Fiserv from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Guggenheim reiterated a “buy” rating and issued a $160.00 target price on shares of Fiserv in a research report on Monday, January 29th. BidaskClub upgraded Fiserv from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 31st. Robert W. Baird boosted their price target on Fiserv from $146.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Finally, Zacks Investment Research raised Fiserv from a “hold” rating to a “buy” rating and set a $154.00 price target for the company in a report on Tuesday, February 13th. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $140.73.
In related news, insider Jeffery W. Yabuki sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $131.18, for a total transaction of $2,230,060.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Byron C. Vielehr sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $131.03, for a total value of $1,310,300.00. Following the sale, the insider now owns 19,719 shares of the company’s stock, valued at $2,583,780.57. The disclosure for this sale can be found here. Insiders have sold 73,160 shares of company stock valued at $10,037,582 over the last quarter. 1.80% of the stock is owned by company 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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