Fiserv, Inc. (NASDAQ:FISV) Shares Sold by Arizona State Retirement System
Arizona State Retirement System cut its stake in shares of Fiserv, Inc. (NASDAQ:FISV) by 6.4% during the second quarter, Holdings Channel reports. The firm owned 99,628 shares of the business services provider’s stock after selling 6,800 shares during the period. Arizona State Retirement System’s holdings in Fiserv were worth $12,188,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FISV. BlackRock Inc. boosted its position in Fiserv by 2,669.4% in the first quarter. BlackRock Inc. now owns 14,345,526 shares of the business services provider’s stock valued at $1,654,185,000 after buying an additional 13,827,530 shares during the period. Pictet Asset Management Ltd. boosted its position in Fiserv by 36.8% in the second quarter. Pictet Asset Management Ltd. now owns 1,105,510 shares of the business services provider’s stock valued at $138,498,000 after buying an additional 297,400 shares during the period. JPMorgan Chase & Co. boosted its position in Fiserv by 152.1% in the first quarter. JPMorgan Chase & Co. now owns 459,649 shares of the business services provider’s stock valued at $53,001,000 after buying an additional 277,357 shares during the period. Vanguard Group Inc. boosted its position in Fiserv by 1.2% in the first quarter. Vanguard Group Inc. now owns 20,783,290 shares of the business services provider’s stock valued at $2,396,522,000 after buying an additional 255,329 shares during the period. Finally, WINTON GROUP Ltd boosted its position in Fiserv by 282.4% in the first quarter. WINTON GROUP Ltd now owns 345,463 shares of the business services provider’s stock valued at $34,363,000 after buying an additional 255,125 shares during the period. Institutional investors own 87.60% of the company’s stock.
Shares of Fiserv, Inc. (NASDAQ:FISV) opened at 122.49 on Friday. Fiserv, Inc. has a 12 month low of $92.81 and a 12 month high of $129.35. The stock has a 50 day moving average of $124.36 and a 200-day moving average of $118.93. The company has a market cap of $25.78 billion, a price-to-earnings ratio of 29.99 and a beta of 0.81.
Fiserv (NASDAQ:FISV) last posted its quarterly earnings results on Tuesday, August 1st. The business services provider reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by $0.04. Fiserv had a net margin of 16.04% and a return on equity of 41.79%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the business posted $1.08 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, analysts forecast that Fiserv, Inc. will post $5.10 EPS for the current year.
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Several research analysts have recently weighed in on FISV shares. Royal Bank Of Canada reiterated a “hold” rating and issued a $123.00 price target on shares of Fiserv in a report on Friday, April 28th. Zacks Investment Research cut shares of Fiserv from a “buy” rating to a “hold” rating in a report on Tuesday, April 18th. Credit Suisse Group reiterated a “hold” rating and issued a $116.00 price target on shares of Fiserv in a report on Friday, April 28th. BidaskClub cut shares of Fiserv from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Finally, Guggenheim upgraded shares of Fiserv from a “neutral” rating to a “buy” rating and upped their price target for the company from $131.00 to $136.00 in a report on Monday, July 17th. Nine 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 company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $126.91.
In related news, insider Jeffery W. Yabuki sold 17,000 shares of Fiserv stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $125.06, for a total value of $2,126,020.00. Following the completion of the sale, the insider now owns 303,151 shares of the company’s stock, valued at approximately $37,912,064.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 51,000 shares of company stock valued at $6,339,810. 1.80% of the stock is currently owned by insiders.
Fiserv Company Profile
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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