Fiserv, Inc. (FISV) Position Boosted by TD Asset Management Inc.

TD Asset Management Inc. raised its position in shares of Fiserv, Inc. (NASDAQ:FISV) by 10.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 689,131 shares of the business services provider’s stock after buying an additional 66,260 shares during the period. TD Asset Management Inc. owned approximately 0.32% of Fiserv worth $84,308,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. First Manhattan Co. increased its stake in shares of Fiserv by 14.9% in the first quarter. First Manhattan Co. now owns 1,034 shares of the business services provider’s stock worth $102,000 after buying an additional 134 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new stake in shares of Fiserv during the second quarter worth $104,000. Advisory Services Network LLC purchased a new stake in shares of Fiserv during the first quarter worth $131,000. Trust Co. of Vermont increased its stake in shares of Fiserv by 53.3% in the second quarter. Trust Co. of Vermont now owns 1,303 shares of the business services provider’s stock worth $159,000 after buying an additional 453 shares in the last quarter. Finally, Morgan Dempsey Capital Management LLC increased its stake in shares of Fiserv by 2.3% in the first quarter. Morgan Dempsey Capital Management LLC now owns 1,480 shares of the business services provider’s stock worth $171,000 after buying an additional 33 shares in the last quarter. Institutional investors own 88.03% of the company’s stock.

Fiserv, Inc. (NASDAQ:FISV) traded down 0.30% during midday trading on Friday, hitting $120.73. The stock had a trading volume of 544,742 shares. The stock has a market cap of $25.41 billion, a P/E ratio of 29.55 and a beta of 0.81. The company has a 50-day moving average price of $124.26 and a 200-day moving average price of $119.47. Fiserv, Inc. has a 52 week low of $92.81 and a 52 week 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 consensus estimate of $1.23 by $0.04. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.42 billion. Fiserv had a return on equity of 41.79% and a net margin of 16.04%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 EPS. Equities analysts expect that Fiserv, Inc. will post $5.10 EPS for the current year.

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Several brokerages have commented on FISV. BidaskClub upgraded shares of Fiserv from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Zacks Investment Research upgraded shares of Fiserv from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a report on Wednesday, July 19th. BMO Capital Markets raised their target price on shares of Fiserv from $112.00 to $133.00 and gave the stock a “market perform” rating in a report on Tuesday, August 1st. Cantor Fitzgerald raised their target price on shares of Fiserv from $107.00 to $118.00 and gave the stock a “neutral” rating in a report on Friday, April 28th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $128.00 price target (up from $123.00) on shares of Fiserv in a research note on Tuesday, August 8th. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Fiserv presently has an average rating of “Buy” and an average target price of $126.91.

In other news, insider Jeffery W. Yabuki sold 17,000 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $126.02, for a total transaction of $2,142,340.00. Following the completion of the transaction, the insider now owns 286,151 shares in the company, valued at approximately $36,060,749.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 51,000 shares of company stock valued at $6,339,810 in the last quarter. 1.80% of the stock is owned by corporate insiders.

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.