State Street Corp Sells 171,901 Shares of Fiserv, Inc. (FISV)
State Street Corp decreased its stake in Fiserv, Inc. (NASDAQ:FISV) by 1.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,730,812 shares of the business services provider’s stock after selling 171,901 shares during the period. State Street Corp owned 4.15% of Fiserv worth $1,068,120,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gardiner Nancy B lifted its holdings in shares of Fiserv by 6.5% in the 1st quarter. Gardiner Nancy B now owns 12,537 shares of the business services provider’s stock worth $1,445,000 after purchasing an additional 762 shares during the last quarter. Atria Investments LLC bought a new stake in shares of Fiserv in the 2nd quarter worth approximately $201,000. Dupont Capital Management Corp lifted its holdings in shares of Fiserv by 6.8% in the 2nd quarter. Dupont Capital Management Corp now owns 12,967 shares of the business services provider’s stock worth $1,586,000 after purchasing an additional 826 shares during the last quarter. Great Lakes Advisors LLC lifted its holdings in shares of Fiserv by 2.2% in the 2nd quarter. Great Lakes Advisors LLC now owns 17,228 shares of the business services provider’s stock worth $2,108,000 after purchasing an additional 378 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its holdings in shares of Fiserv by 755.0% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 102,600 shares of the business services provider’s stock worth $12,552,000 after purchasing an additional 90,600 shares during the last quarter. 87.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of Fiserv, Inc. (NASDAQ:FISV) traded down 1.11% during trading on Friday, hitting $127.48. The stock had a trading volume of 1,333,197 shares. Fiserv, Inc. has a 52 week low of $92.81 and a 52 week high of $129.81. The stock has a market capitalization of $26.83 billion, a price-to-earnings ratio of 31.21 and a beta of 0.82. The stock’s 50 day moving average is $124.72 and its 200 day moving average is $122.39.
Fiserv (NASDAQ:FISV) last posted its quarterly earnings data on Tuesday, August 1st. The business services provider reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.04). Fiserv had a return on equity of 41.79% and a net margin of 16.04%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the company posted $1.08 EPS. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities research analysts expect that Fiserv, Inc. will post $5.10 earnings per share for the current fiscal year.
Several analysts recently commented on the company. BidaskClub upgraded Fiserv from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Royal Bank Of Canada restated a “hold” rating and issued a $128.00 target price on shares of Fiserv in a research report on Sunday. BMO Capital Markets raised their target price on Fiserv from $112.00 to $133.00 and gave the company a “market perform” rating in a research report on Tuesday, August 1st. Zacks Investment Research upgraded Fiserv from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Wednesday, July 19th. Finally, Barclays PLC restated an “equal weight” rating and issued a $123.00 target price (up from $115.00) on shares of Fiserv in a research report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $127.05.
In other Fiserv news, Director Kim M. Robak sold 6,124 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $124.54, for a total transaction of $762,682.96. Following the transaction, the director now owns 42,141 shares of the company’s stock, valued at approximately $5,248,240.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jeffery W. Yabuki sold 17,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $122.02, for a total value of $2,074,340.00. Following the transaction, the insider now directly owns 269,151 shares in the company, valued at approximately $32,841,805.02. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,124 shares of company stock worth $7,113,543. Company insiders own 1.80% of the company’s stock.
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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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