Echo Street Capital Management LLC Acquires 7,119 Shares of Fiserv, Inc. (FISV)
Echo Street Capital Management LLC increased its stake in shares of Fiserv, Inc. (NASDAQ:FISV) by 33.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 28,545 shares of the company’s stock after buying an additional 7,119 shares during the period. Echo Street Capital Management LLC’s holdings in Fiserv were worth $2,839,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its position in Fiserv by 603.2% in the second quarter. Tower Research Capital LLC TRC now owns 1,104 shares of the company’s stock valued at $120,000 after buying an additional 947 shares during the last quarter. Financial Architects Inc boosted its position in Fiserv by 957.0% in the second quarter. Financial Architects Inc now owns 1,279 shares of the company’s stock valued at $139,000 after buying an additional 1,158 shares during the last quarter. Van ECK Associates Corp boosted its position in Fiserv by 24.0% in the second quarter. Van ECK Associates Corp now owns 1,887 shares of the company’s stock valued at $205,000 after buying an additional 365 shares during the last quarter. YHB Investment Advisors Inc. bought a new position in Fiserv during the second quarter valued at approximately $233,000. Finally, Laurion Capital Management LP acquired a new position in shares of Fiserv during the third quarter valued at about $223,000. 85.73% of the stock is currently owned by hedge funds and other institutional investors.
Fiserv, Inc. (NASDAQ:FISV) traded up 0.78% during mid-day trading on Friday, reaching $110.27. 400,680 shares of the company’s stock were exchanged. The company has a market cap of $23.93 billion, a PE ratio of 27.66 and a beta of 0.82. The stock has a 50-day moving average price of $106.42 and a 200 day moving average price of $104.03. Fiserv, Inc. has a 52-week low of $86.02 and a 52-week high of $111.51.
Fiserv (NASDAQ:FISV) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.01. The company earned $1.38 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Fiserv had a return on equity of 36.84% and a net margin of 16.61%. Fiserv’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 EPS. Equities analysts predict that Fiserv, Inc. will post $4.44 earnings per share for the current fiscal year.
Several brokerages have recently issued reports on FISV. Zacks Investment Research raised shares of Fiserv from a “sell” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets began coverage on shares of Fiserv in a research note on Thursday, January 5th. They issued a “market perform” rating and a $109.00 price objective on the stock. Robert W. Baird raised shares of Fiserv from a “neutral” rating to an “outperform” rating and set a $112.00 price objective on the stock in a research note on Friday, October 28th. Monness Crespi & Hardt lifted their price objective on shares of Fiserv from $115.00 to $118.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Pacific Crest began coverage on shares of Fiserv in a research note on Friday, November 18th. They issued a “sector weight” rating and a $101.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. Fiserv currently has a consensus rating of “Hold” and an average price target of $107.18.
In related news, insider Devin Mcgranahan purchased 15,000 shares of the stock in a transaction dated Wednesday, November 2nd. The stock was bought at an average cost of $99.21 per share, with a total value of $1,488,150.00. Following the purchase, the insider now directly owns 25,155 shares in the company, valued at approximately $2,495,627.55. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffery W. Yabuki sold 12,000 shares of the company’s stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $108.72, for a total value of $1,304,640.00. Following the completion of the sale, the insider now directly owns 284,994 shares of the company’s stock, valued at $30,984,547.68. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.
Fiserv, Inc is a provider of financial services technology. The Company operates through two segments: Payments and Industry Products (Payments) and Financial Institution Services (Financial). The Payments segment provides debit and credit card processing and services, electronic bill payment and presentment services, Internet and mobile banking software and services, person-to-person payment services, and other electronic payments software and services.
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