Royce & Associates LP Reduces Stake in Fiserv Inc. (FISV)
Royce & Associates LP decreased its position in Fiserv Inc. (NASDAQ:FISV) by 26.9% during the second quarter, Holdings Channel reports. The fund owned 11,700 shares of the company’s stock after selling 4,300 shares during the period. Royce & Associates LP’s holdings in Fiserv were worth $1,272,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of FISV. Financial Architects Inc boosted its stake in shares of 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 in the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in shares of Fiserv during the first quarter valued at $141,000. First Manhattan Co. boosted its stake in shares of Fiserv by 8.9% in the second quarter. First Manhattan Co. now owns 1,634 shares of the company’s stock valued at $177,000 after buying an additional 134 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of Fiserv during the first quarter valued at $200,000. Finally, Franklin Street Advisors Inc. NC acquired a new stake in shares of Fiserv during the second quarter valued at $210,000. 87.31% of the stock is currently owned by hedge funds and other institutional investors.
Fiserv Inc. (NASDAQ:FISV) traded down 0.72% during midday trading on Friday, hitting $99.21. 1,996,595 shares of the company were exchanged. The firm has a market capitalization of $21.81 billion, a PE ratio of 25.19 and a beta of 0.95. The stock has a 50 day moving average of $104.34 and a 200 day moving average of $103.44. Fiserv Inc. has a 1-year low of $84.48 and a 1-year high of $111.51.
Fiserv (NASDAQ:FISV) last announced its quarterly 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 was up 5.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.95 EPS. On average, equities analysts predict that Fiserv Inc. will post $4.44 earnings per share for the current fiscal year.
Several analysts recently weighed in on the stock. Barclays PLC boosted their price objective on shares of Fiserv from $100.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 3rd. Zacks Investment Research cut shares of Fiserv from a “buy” rating to a “hold” rating in a research note on Monday, August 8th. Jefferies Group boosted their price objective on shares of Fiserv from $119.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $101.00 price target on shares of Fiserv in a research report on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $112.00 price target on shares of Fiserv in a research report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $104.00.
In other Fiserv news, insider Rahul Gupta sold 15,225 shares of the firm’s 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 sale, the insider now owns 66,129 shares of the company’s stock, valued at approximately $6,680,351.58. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeffery W. Yabuki sold 12,000 shares of the firm’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $101.84, for a total transaction of $1,222,080.00. Following the completion of the sale, the insider now directly owns 336,994 shares in the company, valued at approximately $34,319,468.96. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.
Fiserv Company Profile
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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