Global X Management Co. LLC Purchases 3,350 Shares of Fiserv, Inc. (FISV)
Global X Management Co. LLC boosted its stake in shares of Fiserv, Inc. (NASDAQ:FISV) by 88.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,125 shares of the business services provider’s stock after buying an additional 3,350 shares during the period. Global X Management Co. LLC’s holdings in Fiserv were worth $872,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in FISV. First Manhattan Co. increased 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 worth $102,000 after buying an additional 134 shares in the last quarter. Chicago Partners Investment Group LLC bought a new stake in Fiserv during the second quarter worth about $104,000. Advisory Services Network LLC bought a new stake in Fiserv during the first quarter worth about $131,000. Trust Co. of Vermont increased its stake in Fiserv by 53.3% in the second quarter. Trust Co. of Vermont now owns 1,303 shares of the business services provider’s stock worth $159,000 after buying an additional 453 shares in the last quarter. Finally, Morgan Dempsey Capital Management LLC increased 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 worth $171,000 after buying an additional 33 shares in the last quarter. 88.03% of the stock is currently owned by hedge funds and other institutional investors.
Fiserv, Inc. (FISV) opened at 124.05 on Tuesday. The company’s 50-day moving average price is $124.28 and its 200-day moving average price is $119.30. Fiserv, Inc. has a 12-month low of $92.81 and a 12-month high of $129.35. The company has a market cap of $26.11 billion, a PE ratio of 30.37 and a beta of 0.81.
Fiserv (NASDAQ:FISV) last posted its quarterly earnings data on Tuesday, August 1st. The business services provider reported $1.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by $0.04. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Fiserv had a net margin of 16.04% and a return on equity of 41.79%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business posted $1.08 EPS. Equities analysts anticipate that Fiserv, Inc. will post $5.10 earnings per share for the current year.
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FISV has been the topic of a number of recent research reports. Zacks Investment Research raised Fiserv from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Wednesday, July 19th. Guggenheim raised Fiserv from a “neutral” rating to a “buy” rating and lifted their target price for the company from $131.00 to $136.00 in a research report on Monday, July 17th. BidaskClub downgraded Fiserv from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Barclays PLC reaffirmed an “equal weight” rating and issued a $123.00 target price (up previously from $115.00) on shares of Fiserv in a research report on Wednesday, August 2nd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $123.00 target price on shares of Fiserv in a research report on Friday, April 28th. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Fiserv has a consensus 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 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 in the company, valued at approximately $37,912,064.06. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders sold 51,000 shares of company stock valued at $6,339,810. Company 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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