Gabelli Funds LLC lifted its position in Fiserv Inc (NASDAQ:FISV) by 2.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 151,200 shares of the business services provider’s stock after buying an additional 4,000 shares during the period. Gabelli Funds LLC’s holdings in Fiserv were worth $12,456,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of FISV. Principal Financial Group Inc. grew its position in shares of Fiserv by 97.6% in the 1st quarter. Principal Financial Group Inc. now owns 648,012 shares of the business services provider’s stock worth $46,210,000 after buying an additional 320,056 shares during the last quarter. Brown Advisory Inc. grew its position in shares of Fiserv by 33.3% in the 1st quarter. Brown Advisory Inc. now owns 10,104 shares of the business services provider’s stock worth $720,000 after buying an additional 2,522 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Fiserv by 26.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 71,638 shares of the business services provider’s stock worth $5,306,000 after buying an additional 14,920 shares during the last quarter. Xact Kapitalforvaltning AB grew its position in shares of Fiserv by 13.7% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 94,583 shares of the business services provider’s stock worth $7,008,000 after buying an additional 11,424 shares during the last quarter. Finally, Daiwa SB Investments Ltd. grew its position in shares of Fiserv by 39.6% in the 2nd quarter. Daiwa SB Investments Ltd. now owns 9,970 shares of the business services provider’s stock worth $739,000 after buying an additional 2,830 shares during the last quarter. 87.48% of the stock is currently owned by hedge funds and other institutional investors.
FISV has been the topic of a number of analyst reports. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $73.00 price objective on shares of Fiserv in a research report on Wednesday, August 1st. Zacks Investment Research downgraded shares of Fiserv from a “hold” rating to a “sell” rating in a research report on Monday, October 15th. JPMorgan Chase & Co. downgraded shares of Fiserv from a “neutral” rating to an “underweight” rating and set a $95.00 target price on the stock. in a research report on Tuesday, August 14th. Deutsche Bank boosted their target price on shares of Fiserv from $63.50 to $71.00 and gave the stock a “hold” rating in a research report on Wednesday, August 1st. Finally, BidaskClub downgraded shares of Fiserv from a “buy” rating to a “hold” rating in a research report on Wednesday, August 29th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Fiserv presently has an average rating of “Hold” and an average price target of $78.82.
NASDAQ:FISV opened at $80.24 on Friday. The company has a market cap of $31.56 billion, a price-to-earnings ratio of 26.72, a P/E/G ratio of 2.20 and a beta of 0.79. Fiserv Inc has a twelve month low of $62.76 and a twelve month high of $82.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.81.
Fiserv (NASDAQ:FISV) last released its earnings results on Wednesday, October 31st. The business services provider reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.02). The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Fiserv had a return on equity of 44.31% and a net margin of 25.00%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.27 EPS. On average, equities research analysts expect that Fiserv Inc will post 3.13 earnings per share for the current year.
In other news, insider Jeffery W. Yabuki sold 50,000 shares of the company’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $79.72, for a total value of $3,986,000.00. Following the sale, the insider now directly owns 418,380 shares of the company’s stock, valued at approximately $33,353,253.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 150,000 shares of company stock worth $11,864,000 over the last ninety days. Insiders own 1.80% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This story was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this story on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this story can be viewed at https://www.americanbankingnews.com/2018/11/10/gabelli-funds-llc-has-12-46-million-stake-in-fiserv-inc-fisv.html.
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.
Featured Article: Risk Tolerance and Your Investment Decisions
Want to see what other hedge funds are holding FISV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fiserv Inc (NASDAQ:FISV).
Receive News & Ratings for Fiserv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fiserv and related companies with MarketBeat.com's FREE daily email newsletter.