Bridges Investment Management Inc. lifted its position in Fiserv Inc (NASDAQ:FISV) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,455 shares of the business services provider’s stock after acquiring an additional 2,045 shares during the period. Bridges Investment Management Inc.’s holdings in Fiserv were worth $7,665,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in FISV. Cozad Asset Management Inc. acquired a new stake in shares of Fiserv during the second quarter worth approximately $723,000. Zurich Insurance Group Ltd FI boosted its holdings in shares of Fiserv by 39.6% during the second quarter. Zurich Insurance Group Ltd FI now owns 136,376 shares of the business services provider’s stock worth $10,104,000 after purchasing an additional 38,682 shares during the period. Baldwin Investment Management LLC acquired a new stake in shares of Fiserv during the second quarter worth approximately $1,837,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its holdings in shares of Fiserv by 128.0% during the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 225,300 shares of the business services provider’s stock worth $16,692,000 after purchasing an additional 126,500 shares during the period. Finally, Albion Financial Group UT boosted its holdings in shares of Fiserv by 1.1% during the second quarter. Albion Financial Group UT now owns 115,554 shares of the business services provider’s stock worth $8,561,000 after purchasing an additional 1,290 shares during the period. 88.36% of the stock is currently owned by institutional investors and hedge funds.
In other Fiserv news, insider Jeffery W. Yabuki sold 50,000 shares of Fiserv stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $78.64, for a total value of $3,932,000.00. Following the completion of the sale, the insider now directly owns 467,380 shares in the company, valued at $36,754,763.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 150,000 shares of company stock valued at $11,600,500 over the last quarter. Corporate insiders own 1.80% of the company’s stock.
FISV has been the subject of several research reports. BidaskClub upgraded shares of Fiserv from a “buy” rating to a “strong-buy” rating in a report on Friday, June 8th. Wolfe Research initiated coverage on shares of Fiserv in a report on Tuesday, July 17th. They set a “market perform” rating for the company. Cantor Fitzgerald restated a “hold” rating and set a $73.00 price target on shares of Fiserv in a report on Wednesday, August 1st. SunTrust Banks raised their price target on shares of Fiserv to $87.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. Finally, Deutsche Bank lifted their target price on shares of Fiserv from $63.50 to $71.00 and gave the company a “hold” rating in a research note on Wednesday, August 1st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $75.90.
NASDAQ FISV opened at $81.09 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.69. The company has a market capitalization of $32.71 billion, a price-to-earnings ratio of 31.68, a price-to-earnings-growth ratio of 2.24 and a beta of 0.80. Fiserv Inc has a 12-month low of $60.19 and a 12-month high of $81.31.
Fiserv (NASDAQ:FISV) last posted its earnings results on Tuesday, July 31st. The business services provider reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.01. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Fiserv had a net margin of 25.14% and a return on equity of 44.25%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.57 earnings per share. analysts anticipate that Fiserv Inc will post 3.13 EPS for the current fiscal year.
Fiserv Company Profile
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; 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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