Carnegie Capital Asset Management LLC reduced its holdings in Fiserv, Inc. (NASDAQ:FISV – Get Rating) by 8.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,744 shares of the business services provider’s stock after selling 340 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Fiserv were worth $380,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Capital Advisors Ltd. LLC bought a new stake in Fiserv in the fourth quarter worth approximately $30,000. Advocacy Wealth Management Services LLC increased its holdings in shares of Fiserv by 100.0% during the first quarter. Advocacy Wealth Management Services LLC now owns 294 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 147 shares in the last quarter. Trust Co. of Vermont bought a new stake in shares of Fiserv during the fourth quarter valued at approximately $31,000. Missouri Trust & Investment Co bought a new stake in shares of Fiserv during the fourth quarter valued at approximately $31,000. Finally, Arlington Partners LLC bought a new stake in shares of Fiserv during the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 97.24% of the company’s stock.
In other news, Director Holdings L.P. Valueact purchased 291,659 shares of the stock in a transaction dated Monday, June 13th. The shares were purchased at an average cost of $89.65 per share, with a total value of $26,147,229.35. Following the completion of the acquisition, the director now owns 14,439,435 shares in the company, valued at approximately $1,294,495,347.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Guy Chiarello sold 43,000 shares of the stock in a transaction dated Thursday, April 28th. The stock was sold at an average price of $104.31, for a total transaction of $4,485,330.00. Following the completion of the sale, the chief operating officer now directly owns 216,864 shares in the company, valued at $22,621,083.84. The disclosure for this sale can be found here. Insiders have acquired 1,404,234 shares of company stock valued at $131,032,589 in the last quarter. Company insiders own 1.00% of the company’s stock.
FISV has been the subject of several recent research reports. William Blair restated an “outperform” rating on shares of Fiserv in a report on Wednesday, March 9th. The Goldman Sachs Group started coverage on Fiserv in a report on Tuesday, May 17th. They set a “neutral” rating and a $108.00 price objective for the company. Cowen cut Fiserv from an “outperform” rating to a “market perform” rating and cut their target price for the company from $144.00 to $126.00 in a research report on Tuesday, April 12th. Morgan Stanley cut their target price on Fiserv from $118.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, StockNews.com started coverage on Fiserv in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $125.88.
Shares of NASDAQ:FISV opened at $94.19 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $61.41 billion, a PE ratio of 36.79, a P/E/G ratio of 1.03 and a beta of 0.79. Fiserv, Inc. has a twelve month low of $87.03 and a twelve month high of $119.86. The company has a 50-day moving average price of $96.57 and a two-hundred day moving average price of $99.96.
Fiserv (NASDAQ:FISV – Get Rating) last issued its earnings results on Wednesday, April 27th. The business services provider reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.05. The firm had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.85 billion. Fiserv had a net margin of 10.23% and a return on equity of 12.05%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business earned $1.17 earnings per share. Analysts anticipate that Fiserv, Inc. will post 6.48 earnings per share for the current fiscal year.
Fiserv Profile (Get Rating)
Fiserv, Inc, together with its subsidiaries, provides payment and financial services technology worldwide. The company operates through Acceptance, Fintech, and Payments segments. The Acceptance segment provides point-of-sale merchant acquiring and digital commerce services; mobile payment services; security and fraud protection products; Carat, an omnichannel commerce solution; Clover, a cloud-based point-of-sale and business management platform; and Clover Connect, an independent software vendors platform.
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