DnB Asset Management AS Has $2.75 Million Position in Fiserv, Inc. (FISV)
DnB Asset Management AS cut its stake in Fiserv, Inc. (NASDAQ:FISV) by 2.6% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 22,470 shares of the business services provider’s stock after selling 600 shares during the period. DnB Asset Management AS’s holdings in Fiserv were worth $2,749,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of FISV. First Manhattan Co. boosted its stake in Fiserv by 14.9% in the first quarter. First Manhattan Co. now owns 1,034 shares of the business services provider’s stock valued at $102,000 after buying an additional 134 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Fiserv during the first quarter valued at about $131,000. Morgan Dempsey Capital Management LLC boosted its stake in Fiserv by 2.3% in the first quarter. Morgan Dempsey Capital Management LLC now owns 1,480 shares of the business services provider’s stock valued at $171,000 after buying an additional 33 shares in the last quarter. University of Texas Investment Managment Co. purchased a new stake in Fiserv during the first quarter valued at about $184,000. Finally, Investment Centers of America Inc. purchased a new stake in Fiserv during the first quarter valued at about $201,000. Institutional investors and hedge funds own 87.68% of the company’s stock.
Fiserv, Inc. (FISV) opened at 123.61 on Monday. Fiserv, Inc. has a 12 month low of $92.81 and a 12 month high of $127.10. The company has a 50-day moving average of $123.39 and a 200-day moving average of $115.65. The stock has a market cap of $26.25 billion, a PE ratio of 30.88 and a beta of 0.80.
Fiserv (NASDAQ:FISV) last issued its earnings results on Wednesday, April 26th. The business services provider reported $1.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.07. Fiserv had a net margin of 15.95% and a return on equity of 40.28%. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the business earned $1.06 earnings per share. Fiserv’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts forecast that Fiserv, Inc. will post $5.12 EPS for the current fiscal year.
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Several analysts have issued reports on the stock. Zacks Investment Research cut shares of Fiserv from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. Credit Suisse Group reiterated a “hold” rating and issued a $116.00 target price on shares of Fiserv in a research note on Friday, April 28th. Cantor Fitzgerald reiterated a “hold” rating and issued a $118.00 target price on shares of Fiserv in a research note on Tuesday, June 20th. Wedbush reiterated an “outperform” rating and issued a $146.25 target price (up from $115.00) on shares of Fiserv in a research note on Tuesday, June 6th. Finally, BidaskClub cut shares of Fiserv from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Twelve equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $119.25.
In related news, insider Jeffery W. Yabuki sold 15,000 shares of the company’s stock in a transaction on Tuesday, April 18th. The shares were sold at an average price of $116.38, for a total transaction of $1,745,700.00. Following the completion of the transaction, the insider now owns 339,151 shares in the company, valued at $39,470,393.38. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeffery W. Yabuki sold 17,000 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $121.85, for a total transaction of $2,071,450.00. Following the transaction, the insider now owns 323,776 shares of the company’s stock, valued at approximately $39,452,105.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,000 shares of company stock valued at $6,183,550. 1.90% of the stock is owned by company insiders.
Fiserv, Inc is a provider of financial services technology. The Company provides account processing systems; electronic payments processing products and services, such as electronic bill payments, transaction processing, account-to-account transfers, and person-to-person payments; Internet and mobile banking systems, and related services, including document and payment card production and distribution, and lending and risk management products and services.
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