Summit Securities Group LLC Has $1.91 Million Stake in Fiserv, Inc. (FISV)
Summit Securities Group LLC boosted its stake in Fiserv, Inc. (NASDAQ:FISV) by 45.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,609 shares of the business services provider’s stock after buying an additional 4,881 shares during the period. Fiserv comprises 0.3% of Summit Securities Group LLC’s portfolio, making the stock its 24th largest position. Summit Securities Group LLC’s holdings in Fiserv were worth $1,910,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Fiserv by 2,669.4% in the first quarter. BlackRock Inc. now owns 14,345,526 shares of the business services provider’s stock valued at $1,654,185,000 after buying an additional 13,827,530 shares during the period. Pictet Asset Management Ltd. increased its stake in Fiserv by 36.8% in the second quarter. Pictet Asset Management Ltd. now owns 1,105,510 shares of the business services provider’s stock valued at $138,498,000 after buying an additional 297,400 shares during the period. JPMorgan Chase & Co. increased its stake in Fiserv by 152.1% in the first quarter. JPMorgan Chase & Co. now owns 459,649 shares of the business services provider’s stock valued at $53,001,000 after buying an additional 277,357 shares during the period. Vanguard Group Inc. increased its stake in Fiserv by 1.2% in the first quarter. Vanguard Group Inc. now owns 20,783,290 shares of the business services provider’s stock valued at $2,396,522,000 after buying an additional 255,329 shares during the period. Finally, WINTON GROUP Ltd increased its stake in Fiserv by 282.4% in the first quarter. WINTON GROUP Ltd now owns 345,463 shares of the business services provider’s stock valued at $34,363,000 after buying an additional 255,125 shares during the period. 87.60% of the stock is currently owned by hedge funds and other institutional investors.
Fiserv, Inc. (NASDAQ FISV) opened at 122.49 on Friday. The firm has a market capitalization of $25.78 billion, a price-to-earnings ratio of 29.99 and a beta of 0.81. Fiserv, Inc. has a 12-month low of $92.81 and a 12-month high of $129.35. The stock has a 50 day moving average of $124.36 and a 200 day moving average of $118.93.
Fiserv (NASDAQ:FISV) last announced its quarterly earnings data on Tuesday, August 1st. The business services provider reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the company posted $1.08 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities research analysts anticipate that Fiserv, Inc. will post $5.10 earnings per share for the current year.
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FISV has been the topic of several analyst reports. Royal Bank Of Canada reaffirmed a “hold” rating and set a $123.00 price target on shares of Fiserv in a research note on Friday, April 28th. Zacks Investment Research downgraded shares of Fiserv from a “buy” rating to a “hold” rating in a research report on Tuesday, April 18th. Credit Suisse Group reissued a “hold” rating and issued a $116.00 target price on shares of Fiserv in a research report on Friday, April 28th. BidaskClub downgraded shares of Fiserv from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Finally, Guggenheim raised shares of Fiserv from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $131.00 to $136.00 in a research report on Monday, July 17th. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $126.91.
In other news, insider Jeffery W. Yabuki sold 17,000 shares of the stock in a transaction 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 transaction, the insider now owns 303,151 shares in the company, valued at approximately $37,912,064.06. The sale was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders sold 51,000 shares of company stock valued at $6,339,810. Corporate insiders own 1.80% of the company’s stock.
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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