Osborne Partners Capital Management LLC reduced its position in shares of Fiserv, Inc. (NASDAQ:FISV) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,100 shares of the business services provider’s stock after selling 200 shares during the period. Osborne Partners Capital Management LLC’s holdings in Fiserv were worth $2,948,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of FISV. BlackRock Inc. increased its position 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 worth $1,654,185,000 after buying an additional 13,827,530 shares during the period. JPMorgan Chase & Co. increased its position in shares of 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 last quarter. Vanguard Group Inc. increased its position in shares of 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 last quarter. WINTON GROUP Ltd increased its position in shares of 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 last quarter. Finally, Old Mutual Global Investors UK Ltd. increased its position in shares of Fiserv by 155.5% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 381,807 shares of the business services provider’s stock valued at $44,026,000 after buying an additional 232,364 shares during the last quarter. 87.72% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Fiserv, Inc. (FISV) traded down 0.72% during midday trading on Friday, hitting $123.08. 971,735 shares of the stock were exchanged. The stock’s 50-day moving average price is $124.64 and its 200 day moving average price is $118.43. Fiserv, Inc. has a one year low of $92.81 and a one year high of $129.35. The stock has a market cap of $25.90 billion, a P/E ratio of 30.09 and a beta of 0.81.
Fiserv (NASDAQ:FISV) last announced its quarterly earnings data on Tuesday, August 1st. The business services provider reported $1.19 EPS for the quarter, missing the Zacks’ consensus estimate of $1.23 by $0.04. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.42 billion. Fiserv had a return on equity of 41.79% and a net margin of 16.04%. Fiserv’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.08 earnings per share. On average, analysts anticipate that Fiserv, Inc. will post $5.10 earnings per share for the current year.
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Several brokerages have issued reports on FISV. Zacks Investment Research downgraded shares of Fiserv from a “buy” rating to a “hold” rating in a research report on Friday, April 28th. Credit Suisse Group reissued a “hold” rating and set a $116.00 price objective on shares of Fiserv in a research report on Friday, April 28th. Barclays PLC restated an “equal weight” rating and issued a $123.00 target price (up previously from $115.00) on shares of Fiserv in a research note on Wednesday. Cantor Fitzgerald restated a “hold” rating and issued a $118.00 target price on shares of Fiserv in a research note on Tuesday, June 20th. Finally, Wedbush restated an “outperform” rating and issued a $146.25 target price (up previously from $115.00) on shares of Fiserv in a research note on Tuesday, June 6th. 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 stock. The company presently has an average rating of “Buy” and an average price target of $126.91.
In related news, insider Jeffery W. Yabuki sold 17,000 shares of Fiserv stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $125.06, for a total value of $2,126,020.00. Following the completion of the sale, the insider now directly owns 303,151 shares in the company, valued at $37,912,064.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 51,000 shares of company stock valued at $6,339,810. Corporate insiders own 1.90% of the company’s stock.
About Fiserv
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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