Parallel Advisors LLC Increases Position in Fiserv, Inc. (FISV)
Parallel Advisors LLC increased its position in shares of Fiserv, Inc. (NASDAQ:FISV) by 8.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 849 shares of the business services provider’s stock after buying an additional 64 shares during the period. Parallel Advisors LLC’s holdings in Fiserv were worth $109,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Chicago Partners Investment Group LLC bought a new stake in Fiserv during the second quarter valued at approximately $104,000. First Manhattan Co. raised 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 valued at $102,000 after buying an additional 134 shares during the period. Advisory Services Network LLC bought a new stake in Fiserv during the first quarter valued at approximately $131,000. Trust Co. of Vermont raised 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 valued at $159,000 after buying an additional 453 shares during the period. Finally, Morgan Dempsey Capital Management LLC raised 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 valued at $171,000 after buying an additional 33 shares during the period. Institutional investors and hedge funds own 87.72% of the company’s stock.
Fiserv, Inc. (NASDAQ FISV) opened at 123.21 on Thursday. The company has a 50-day moving average of $124.15 and a 200 day moving average of $120.11. The company has a market cap of $25.93 billion, a P/E ratio of 30.16 and a beta of 0.81. Fiserv, Inc. has a one year low of $92.81 and a one year high of $129.35.
Fiserv (NASDAQ:FISV) last posted its earnings results on Tuesday, August 1st. The business services provider reported $1.19 earnings per share for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the business posted $1.08 earnings per share. The business’s revenue was up 1.7% compared to the same quarter last year. Analysts anticipate that Fiserv, Inc. will post $5.10 earnings per share for the current year.
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Several equities research analysts have recently commented on the company. BidaskClub lowered Fiserv from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 22nd. Royal Bank Of Canada restated a “sector perform” rating and issued a $128.00 price objective (up from $123.00) on shares of Fiserv in a research note on Tuesday, August 8th. Cowen and Company restated a “hold” rating and issued a $115.00 price objective on shares of Fiserv in a research note on Thursday, August 3rd. Credit Suisse Group upped their price objective on Fiserv from $123.00 to $126.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 2nd. Finally, Barclays PLC restated an “equal weight” rating and issued a $123.00 price objective (up from $115.00) on shares of Fiserv in a research note on Wednesday, August 2nd. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Fiserv has a consensus rating of “Hold” and an average target price of $126.91.
In other Fiserv news, insider Jeffery W. Yabuki sold 17,000 shares of the firm’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $126.02, for a total transaction of $2,142,340.00. Following the sale, the insider now directly owns 286,151 shares of the company’s stock, valued at approximately $36,060,749.02. 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 worth $6,342,700 over the last ninety days. 1.80% of the stock is owned by corporate 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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