Sun Life Financial INC Has $190,000 Position in Fiserv, Inc. (FISV)
Sun Life Financial INC increased its stake in Fiserv, Inc. (NASDAQ:FISV) by 11,838.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,552 shares of the business services provider’s stock after buying an additional 1,539 shares during the quarter. Sun Life Financial INC’s holdings in Fiserv were worth $190,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of FISV. Empire Life Investments Inc. purchased a new stake in Fiserv in the 1st quarter worth about $13,650,000. Bronfman E.L. Rothschild L.P. lifted its position in shares of Fiserv by 25.7% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 16,179 shares of the business services provider’s stock worth $1,866,000 after purchasing an additional 3,304 shares during the last quarter. Martingale Asset Management L P lifted its position in shares of Fiserv by 27.9% during the first quarter. Martingale Asset Management L P now owns 123,274 shares of the business services provider’s stock worth $14,215,000 after purchasing an additional 26,900 shares during the last quarter. Savant Capital LLC lifted its position in shares of Fiserv by 0.5% during the first quarter. Savant Capital LLC now owns 2,138 shares of the business services provider’s stock worth $247,000 after purchasing an additional 10 shares during the last quarter. Finally, Ifrah Financial Services Inc. lifted its position in shares of Fiserv by 3.1% during the first quarter. Ifrah Financial Services Inc. now owns 4,172 shares of the business services provider’s stock worth $481,000 after purchasing an additional 124 shares during the last quarter. Institutional investors own 87.72% of the company’s stock.
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In related news, Director Kim M. Robak sold 6,124 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $124.54, for a total value of $762,682.96. Following the transaction, the director now owns 42,141 shares in the company, valued at approximately $5,248,240.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffery W. Yabuki sold 17,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $122.02, for a total value of $2,074,340.00. Following the completion of the transaction, the insider now 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 quarter, insiders sold 57,124 shares of company stock valued at $7,113,543. 1.80% of the stock is owned by insiders.
Shares of Fiserv, Inc. (NASDAQ FISV) traded up 0.42% during midday trading on Tuesday, reaching $129.41. The company had a trading volume of 69,473 shares. The stock has a market capitalization of $27.24 billion, a PE ratio of 31.68 and a beta of 0.82. Fiserv, Inc. has a 52-week low of $92.81 and a 52-week high of $129.81. The company’s 50 day moving average price is $124.18 and its 200 day moving average price is $122.14.
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). The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Fiserv had a net margin of 16.04% and a return on equity of 41.79%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.08 earnings per share. Equities research analysts expect that Fiserv, Inc. will post $5.10 earnings per share for the current year.
A number of research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Fiserv from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Wednesday, July 19th. Guggenheim upgraded shares of Fiserv from a “neutral” rating to a “buy” rating and upped their target price for the stock from $131.00 to $136.00 in a research note on Monday, July 17th. BidaskClub downgraded shares of Fiserv from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Robert W. Baird reaffirmed a “buy” rating and set a $136.00 price target on shares of Fiserv in a research note on Friday, September 8th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $123.00 price objective (up previously from $115.00) on shares of Fiserv in a research note on Wednesday, August 2nd. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Fiserv has an average rating of “Hold” and an average price target of $127.05.
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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