First Mercantile Trust Co. Sells 246 Shares of Fiserv, Inc. (FISV)
First Mercantile Trust Co. lowered its stake in shares of Fiserv, Inc. (NASDAQ:FISV) by 6.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,777 shares of the business services provider’s stock after selling 246 shares during the period. First Mercantile Trust Co.’s holdings in Fiserv were worth $463,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. First Manhattan Co. raised its position in shares of 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 during the last quarter. Gilman Hill Asset Management LLC raised its position in Fiserv by 31.0% in the first quarter. Gilman Hill Asset Management LLC now owns 5,600 shares of the business services provider’s stock worth $646,000 after buying an additional 1,325 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its position in Fiserv by 1.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,789 shares of the business services provider’s stock worth $624,000 after buying an additional 90 shares in the last quarter. Candriam Luxembourg S.C.A. raised its position in Fiserv by 26.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 17,882 shares of the business services provider’s stock worth $2,062,000 after buying an additional 3,795 shares in the last quarter. Finally, Westwood Management Corp IL raised its position in Fiserv by 0.4% in the first quarter. Westwood Management Corp IL now owns 136,340 shares of the business services provider’s stock worth $15,721,000 after buying an additional 500 shares in the last quarter. 88.03% of the stock is currently owned by hedge funds and other institutional investors.
Fiserv, Inc. (NASDAQ FISV) opened at 124.70 on Wednesday. The company has a 50 day moving average price of $124.29 and a 200-day moving average price of $119.42. The company has a market capitalization of $26.24 billion, a PE ratio of 30.53 and a beta of 0.81. Fiserv, Inc. has a 12-month low of $92.81 and a 12-month high of $129.35.
Fiserv (NASDAQ:FISV) last posted its earnings results on Tuesday, August 1st. The business services provider reported $1.19 EPS for the quarter, missing the consensus estimate of $1.23 by $0.04. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.42 billion. Fiserv had a net margin of 16.04% and a return on equity of 41.79%. Fiserv’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.08 earnings per share. On average, analysts anticipate that Fiserv, Inc. will post $5.10 EPS for the current year.
A number of research firms have recently commented on FISV. Royal Bank Of Canada lifted their price target on shares of Fiserv from $123.00 to $128.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 2nd. Barclays PLC reissued an “equal weight” rating and issued a $123.00 price target (up previously from $115.00) on shares of Fiserv in a research report on Wednesday, August 2nd. BMO Capital Markets lifted their price target on shares of Fiserv from $112.00 to $133.00 and gave the company a “market perform” rating in a research report on Tuesday, August 1st. BidaskClub raised shares of Fiserv from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Finally, Wedbush reissued an “outperform” rating and issued a $146.25 price target (up previously from $115.00) on shares of Fiserv in a research report on Tuesday, June 6th. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Fiserv currently has an average rating of “Buy” and an average price target of $126.91.
In other Fiserv news, insider Jeffery W. Yabuki sold 17,000 shares of the stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $126.02, for a total value of $2,142,340.00. Following the completion of the transaction, the insider now directly owns 286,151 shares in the company, valued at $36,060,749.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 51,000 shares of company stock valued at $6,339,810 over the last quarter. Corporate insiders own 1.80% of the company’s stock.
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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