Pflug Koory LLC Raises Stock Position in Fiserv Inc (NASDAQ:FISV)
Pflug Koory LLC grew its holdings in Fiserv Inc (NASDAQ:FISV) by 6.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,042 shares of the business services provider’s stock after acquiring an additional 242 shares during the period. Pflug Koory LLC’s holdings in Fiserv were worth $419,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of FISV. Truewealth LLC increased its stake in Fiserv by 70.5% during the 3rd quarter. Truewealth LLC now owns 249 shares of the business services provider’s stock worth $26,000 after buying an additional 103 shares during the period. Advantage Investment Management LLC increased its stake in Fiserv by 126.4% during the 2nd quarter. Advantage Investment Management LLC now owns 335 shares of the business services provider’s stock worth $31,000 after buying an additional 187 shares during the period. Financial Management Professionals Inc. purchased a new stake in Fiserv during the 3rd quarter worth $31,000. Wealthcare Advisory Partners LLC increased its stake in Fiserv by 523.3% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 374 shares of the business services provider’s stock worth $34,000 after buying an additional 314 shares during the period. Finally, Oakworth Capital Inc. purchased a new stake in Fiserv during the 2nd quarter worth $36,000.
In other news, CEO Jeffery W. Yabuki sold 25,000 shares of Fiserv stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $103.67, for a total value of $2,591,750.00. Following the completion of the transaction, the chief executive officer now directly owns 271,229 shares of the company’s stock, valued at approximately $28,118,310.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffery W. Yabuki sold 20,000 shares of Fiserv stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $94.25, for a total transaction of $1,885,000.00. Following the completion of the transaction, the insider now directly owns 331,429 shares of the company’s stock, valued at $31,237,183.25. The disclosure for this sale can be found here. Insiders sold a total of 141,000 shares of company stock valued at $14,713,000 over the last ninety days. Company insiders own 1.40% of the company’s stock.
Fiserv (NASDAQ:FISV) last posted its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.02. Fiserv had a net margin of 16.08% and a return on equity of 53.08%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business posted $0.75 EPS. The company’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, research analysts predict that Fiserv Inc will post 3.74 earnings per share for the current fiscal year.
Several research firms recently issued reports on FISV. Deutsche Bank raised shares of Fiserv from a “hold” rating to a “buy” rating and lifted their price target for the stock from $100.00 to $120.00 in a research note on Tuesday, July 30th. Canaccord Genuity initiated coverage on shares of Fiserv in a research report on Thursday, September 12th. They issued a “buy” rating and a $130.00 target price for the company. Northcoast Research raised shares of Fiserv from a “neutral” rating to a “buy” rating and set a $90.86 target price for the company in a research report on Wednesday, June 26th. Argus reissued a “buy” rating on shares of Fiserv in a research report on Monday, August 12th. Finally, Wells Fargo & Co initiated coverage on shares of Fiserv in a research report on Wednesday, June 19th. They issued an “outperform” rating and a $110.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $103.63.
Fiserv, Inc, together with its subsidiaries, provides financial services technology worldwide. The company's Payments and Industry Products segment provides electronic bill payment and presentment services; Internet and mobile banking software and services; account-to-account transfers; person-to-person payment services; debit and credit card processing and services; payments infrastructure services; and other electronic payments software and services.
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