Rehmann Capital Advisory Group cut its position in Fiserv, Inc. (NASDAQ:FISV) by 34.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,602 shares of the business services provider’s stock after selling 1,341 shares during the period. Rehmann Capital Advisory Group’s holdings in Fiserv were worth $318,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Gulf International Bank UK Ltd increased its position in shares of Fiserv by 1.1% in the first quarter. Gulf International Bank UK Ltd now owns 68,856 shares of the business services provider’s stock worth $7,939,000 after buying an additional 750 shares during the period. Fulton Bank N.A. raised its stake in Fiserv by 72.2% in the first quarter. Fulton Bank N.A. now owns 3,643 shares of the business services provider’s stock valued at $421,000 after buying an additional 1,528 shares during the last quarter. Rathbone Brothers plc purchased a new stake in Fiserv during the first quarter valued at about $202,000. Chevy Chase Trust Holdings Inc. raised its stake in Fiserv by 2.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 186,058 shares of the business services provider’s stock valued at $21,455,000 after buying an additional 3,879 shares during the last quarter. Finally, Bridges Investment Counsel Inc. raised its stake in Fiserv by 33.6% in the first quarter. Bridges Investment Counsel Inc. now owns 15,400 shares of the business services provider’s stock valued at $1,776,000 after buying an additional 3,875 shares during the last quarter. 87.72% of the stock is owned by institutional investors.
Shares of Fiserv, Inc. (NASDAQ:FISV) traded down 0.21% during mid-day trading on Thursday, hitting $123.71. 464,070 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $124.64 and a 200-day moving average price of $118.43. The stock has a market cap of $26.27 billion, a P/E ratio of 30.90 and a beta of 0.81. Fiserv, Inc. has a 1-year low of $92.81 and a 1-year high of $129.35.
Fiserv (NASDAQ:FISV) last posted its quarterly earnings results on Tuesday, August 1st. The business services provider reported $1.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.23 by $0.04. Fiserv had a return on equity of 41.29% and a net margin of 16.04%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the firm earned $1.08 EPS. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. Equities research analysts anticipate that Fiserv, Inc. will post $5.11 EPS for the current fiscal year.
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FISV has been the subject of several research analyst reports. Royal Bank Of Canada restated a “hold” rating and set a $123.00 price target on shares of Fiserv in a research report on Friday, April 28th. Zacks Investment Research downgraded shares of Fiserv from a “buy” rating to a “hold” rating in a report on Tuesday, April 18th. Credit Suisse Group restated a “hold” rating and set a $116.00 price target on shares of Fiserv in a report on Friday, April 28th. BidaskClub cut shares of Fiserv from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Finally, Cantor Fitzgerald raised their price target on shares of Fiserv from $107.00 to $118.00 and gave the company a “neutral” rating in a research report on Friday, April 28th. Eleven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $124.36.
In other news, insider Jeffery W. Yabuki sold 17,000 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $121.85, for a total value of $2,071,450.00. Following the sale, the insider now owns 323,776 shares in the company, valued at approximately $39,452,105.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 51,000 shares of company stock worth $6,339,810 in the last 90 days. 1.90% of the stock is owned by corporate insiders.
Fiserv Company Profile
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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