Janney Montgomery Scott LLC Decreases Stake in Fiserv, Inc. (FISV)
Janney Montgomery Scott LLC lowered its stake in Fiserv, Inc. (NASDAQ:FISV) by 3.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 10,510 shares of the business services provider’s stock after selling 360 shares during the period. Janney Montgomery Scott LLC’s holdings in Fiserv were worth $1,286,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of FISV. First Manhattan Co. boosted 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 in the last quarter. Advisory Services Network LLC purchased a new position in shares of Fiserv during the first quarter valued at about $131,000. Trust Co. of Vermont boosted its position in shares of Fiserv by 53.3% in the second quarter. Trust Co. of Vermont now owns 1,303 shares of the business services provider’s stock valued at $159,000 after buying an additional 453 shares in the last quarter. Morgan Dempsey Capital Management LLC boosted its position in shares of 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. Finally, University of Texas Investment Managment Co. purchased a new position in shares of Fiserv during the first quarter valued at about $184,000. 87.60% of the stock is owned by hedge funds and other institutional investors.
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 market cap of $25.78 billion, a P/E ratio of 29.99 and a beta of 0.81. The stock has a 50 day moving average price of $124.36 and a 200-day moving average price of $118.93.
Fiserv (NASDAQ:FISV) last announced its quarterly earnings data on Tuesday, August 1st. The business services provider reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by $0.04. Fiserv had a net margin of 16.04% and a return on equity of 41.79%. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the company posted $1.08 EPS. Fiserv’s revenue was up 1.7% on a year-over-year basis. On average, analysts forecast that Fiserv, Inc. will post $5.10 EPS for the current fiscal year.
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FISV has been the subject of several research reports. Zacks Investment Research raised Fiserv from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a report on Wednesday, July 19th. Guggenheim raised Fiserv from a “neutral” rating to a “buy” rating and raised their price target for the stock 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 reissued an “equal weight” rating and set a $123.00 price target (up previously from $115.00) on shares of Fiserv in a research report on Wednesday, August 2nd. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $123.00 price target on shares of Fiserv in a research report on Friday, April 28th. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $126.91.
In other news, insider Jeffery W. Yabuki sold 17,000 shares of the stock in a transaction on Friday, June 23rd. The stock was 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 $37,912,064.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 51,000 shares of company stock valued at $6,339,810 in the last quarter. 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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