Fiserv Inc. (FISV) Shares Sold by Principal Financial Group Inc.
Principal Financial Group Inc. decreased its stake in Fiserv Inc. (NASDAQ:FISV) by 6.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 405,533 shares of the company’s stock after selling 27,391 shares during the period. Principal Financial Group Inc. owned about 0.18% of Fiserv worth $44,094,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Brown Advisory Inc. increased its stake in Fiserv by 9.3% in the second quarter. Brown Advisory Inc. now owns 7,724 shares of the company’s stock valued at $840,000 after buying an additional 655 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of Fiserv by 303.5% in the second quarter. Private Advisor Group LLC now owns 11,277 shares of the company’s stock valued at $1,226,000 after buying an additional 8,482 shares during the last quarter. Bradley Foster & Sargent Inc. CT boosted its stake in shares of Fiserv by 6.2% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 22,125 shares of the company’s stock valued at $2,406,000 after buying an additional 1,285 shares during the last quarter. Parnassus Investments CA boosted its stake in shares of Fiserv by 14.9% in the second quarter. Parnassus Investments CA now owns 201,000 shares of the company’s stock valued at $21,855,000 after buying an additional 26,000 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in shares of Fiserv by 16.6% in the second quarter. Teacher Retirement System of Texas now owns 24,730 shares of the company’s stock valued at $2,689,000 after buying an additional 3,512 shares during the last quarter. 87.31% of the stock is currently owned by institutional investors.
Fiserv Inc. (NASDAQ:FISV) traded up 0.35% during midday trading on Monday, hitting $99.56. 143,843 shares of the stock were exchanged. The firm has a 50-day moving average price of $104.34 and a 200-day moving average price of $103.44. Fiserv Inc. has a one year low of $84.48 and a one year high of $111.51. The stock has a market cap of $21.88 billion, a P/E ratio of 25.28 and a beta of 0.95.
Fiserv (NASDAQ:FISV) last announced its earnings results on Tuesday, August 2nd. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.38 billion. Fiserv had a net margin of 16.89% and a return on equity of 35.52%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted $0.95 earnings per share. On average, equities research analysts anticipate that Fiserv Inc. will post $4.44 EPS for the current fiscal year.
Several analysts have commented on FISV shares. Wedbush restated an “outperform” rating and set a $115.00 price objective on shares of Fiserv in a research note on Thursday, September 8th. Zacks Investment Research cut shares of Fiserv from a “buy” rating to a “hold” rating in a research note on Monday, August 8th. Barclays PLC lifted their price objective on shares of Fiserv from $93.00 to $100.00 and gave the company an “equal weight” rating in a research note on Thursday, July 7th. Jefferies Group lifted their price objective on shares of Fiserv from $119.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Finally, Credit Suisse Group AG restated a “hold” rating and set a $101.00 price objective on shares of Fiserv in a research note on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $104.00.
In related news, insider Rahul Gupta sold 15,225 shares of Fiserv stock in a transaction on Monday, September 12th. The shares were sold at an average price of $101.02, for a total value of $1,538,029.50. Following the transaction, the insider now directly owns 66,129 shares in the company, valued at approximately $6,680,351.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeffery W. Yabuki sold 12,000 shares of Fiserv stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $101.84, for a total transaction of $1,222,080.00. Following the completion of the transaction, the insider now owns 336,994 shares in the company, valued at $34,319,468.96. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
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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