Morgan Dempsey Capital Management LLC Lowers Position in Fiserv, Inc. (NASDAQ:FISV)
Morgan Dempsey Capital Management LLC lowered its stake in shares of Fiserv, Inc. (NASDAQ:FISV) by 2.2% during the second quarter, Holdings Channel reports. The fund owned 1,447 shares of the business services provider’s stock after selling 33 shares during the period. Morgan Dempsey Capital Management LLC’s holdings in Fiserv were worth $177,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. First Manhattan Co. raised its position in 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 period. Chicago Partners Investment Group LLC bought a new position in Fiserv during the second quarter valued at approximately $104,000. Advisory Services Network LLC bought a new position in Fiserv during the first quarter valued at approximately $131,000. Trust Co. of Vermont raised its position 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 valued at $159,000 after buying an additional 453 shares during the period. Finally, University of Texas Investment Managment Co. bought a new position in Fiserv during the first quarter valued at approximately $184,000. Hedge funds and other institutional investors own 87.60% of the company’s stock.
Fiserv, Inc. (NASDAQ:FISV) opened at 122.49 on Friday. Fiserv, Inc. has a one year low of $92.81 and a one year high of $129.35. The company has a market capitalization of $25.78 billion, a price-to-earnings ratio of 29.99 and a beta of 0.81. The company has a 50-day moving average price of $124.36 and a 200-day moving average price of $118.93.
Fiserv (NASDAQ:FISV) last issued its quarterly earnings results on Tuesday, August 1st. The business services provider reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by $0.04. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.42 billion. Fiserv had a net margin of 16.04% and a return on equity of 41.79%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.08 EPS. Equities research analysts anticipate that Fiserv, Inc. will post $5.10 EPS for the current year.
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Several research firms have recently commented on FISV. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $128.00 target price (up from $123.00) on shares of Fiserv in a report on Tuesday. Cowen and Company reaffirmed a “hold” rating and set a $115.00 target price on shares of Fiserv in a report on Thursday, August 3rd. Credit Suisse Group upped their target price on Fiserv from $123.00 to $126.00 and gave the company a “neutral” rating in a report on Wednesday, August 2nd. Barclays PLC reaffirmed an “equal weight” rating and set a $123.00 target price (up from $115.00) on shares of Fiserv in a report on Wednesday, August 2nd. Finally, BMO Capital Markets upped their target price on Fiserv from $112.00 to $133.00 and gave the company a “market perform” rating in a report on Tuesday, August 1st. 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 company. Fiserv 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 the firm’s stock in a transaction that occurred 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 $37,912,064.06. The sale was disclosed in a document filed 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 company 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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