Mackenzie Financial Corp Decreases Stake in Fiserv, Inc. $FISV

Mackenzie Financial Corp reduced its stake in shares of Fiserv, Inc. (NASDAQ:FISV) by 73.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 76,056 shares of the business services provider’s stock after selling 215,319 shares during the quarter. Mackenzie Financial Corp’s holdings in Fiserv were worth $13,113,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. E Fund Management Co. Ltd. lifted its position in Fiserv by 3.9% during the 1st quarter. E Fund Management Co. Ltd. now owns 1,463 shares of the business services provider’s stock worth $323,000 after acquiring an additional 55 shares during the period. LaSalle St. Investment Advisors LLC increased its holdings in shares of Fiserv by 5.1% in the first quarter. LaSalle St. Investment Advisors LLC now owns 1,273 shares of the business services provider’s stock valued at $281,000 after purchasing an additional 62 shares during the period. SageView Advisory Group LLC raised its stake in shares of Fiserv by 4.0% in the first quarter. SageView Advisory Group LLC now owns 1,598 shares of the business services provider’s stock worth $353,000 after purchasing an additional 62 shares during the last quarter. 17 Capital Partners LLC raised its stake in shares of Fiserv by 0.9% in the first quarter. 17 Capital Partners LLC now owns 7,513 shares of the business services provider’s stock worth $1,659,000 after purchasing an additional 70 shares during the last quarter. Finally, Hemington Wealth Management lifted its holdings in shares of Fiserv by 8.3% during the first quarter. Hemington Wealth Management now owns 936 shares of the business services provider’s stock worth $206,000 after purchasing an additional 72 shares during the period. 90.98% of the stock is owned by institutional investors and hedge funds.

Fiserv Price Performance

NASDAQ:FISV opened at $63.24 on Wednesday. The company has a 50 day moving average price of $94.29 and a 200-day moving average price of $131.47. Fiserv, Inc. has a 1-year low of $59.56 and a 1-year high of $238.59. The firm has a market cap of $34.38 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 2.41 and a beta of 0.80. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.08 and a quick ratio of 1.08.

Fiserv (NASDAQ:FISV) last released its quarterly earnings results on Tuesday, March 26th. The business services provider reported $1.91 EPS for the quarter. The company had revenue of $4.32 billion for the quarter. Fiserv had a net margin of 17.05% and a return on equity of 19.47%. Equities research analysts forecast that Fiserv, Inc. will post 10.23 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FISV. Mizuho set a $145.00 price target on shares of Fiserv and gave the stock an “outperform” rating in a report on Tuesday, October 28th. BTIG Research reissued a “buy” rating and set a $180.00 price target on shares of Fiserv in a research report on Wednesday, October 29th. Argus reaffirmed a “hold” rating on shares of Fiserv in a report on Thursday, October 30th. Citigroup cut their price objective on shares of Fiserv from $128.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Fiserv in a report on Monday. Eleven investment analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $121.08.

Insider Activity

In other Fiserv news, insider Adam L. Rosman purchased 7,900 shares of the stock in a transaction on Tuesday, December 2nd. The shares were bought at an average price of $63.19 per share, for a total transaction of $499,201.00. Following the completion of the transaction, the insider owned 61,285 shares of the company’s stock, valued at $3,872,599.15. This trade represents a 14.80% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Paul M. Todd acquired 17,000 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was acquired at an average price of $62.41 per share, with a total value of $1,060,970.00. Following the completion of the transaction, the chief financial officer directly owned 24,453 shares of the company’s stock, valued at approximately $1,526,111.73. This represents a 228.10% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 34,900 shares of company stock worth $2,211,971 in the last ninety days. Company insiders own 0.75% of the company’s stock.

About Fiserv

Fiserv, Inc, together with its subsidiaries, provides payments and financial services technology services in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally. It operates through Merchant Acceptance, Financial Technology, and Payments and Network segments.