Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its position in Fiserv, Inc. (NASDAQ:FISV) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,508,769 shares of the business services provider’s stock after selling 53,414 shares during the period. Fiserv accounts for 3.9% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 2nd largest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned about 0.70% of Fiserv worth $193,877,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the company. Parallel Advisors LLC increased its position in Fiserv by 8.2% in the second quarter. Parallel Advisors LLC now owns 849 shares of the business services provider’s stock worth $109,000 after buying an additional 64 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in Fiserv during the second quarter worth $104,000. First Manhattan Co. increased its position in 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. Advisory Services Network LLC bought a new position in Fiserv during the first quarter worth $131,000. Finally, Trust Co. of Vermont increased its position in 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. Hedge funds and other institutional investors own 88.03% of the company’s stock.
Fiserv, Inc. (NASDAQ FISV) opened at 122.32 on Friday. The stock has a market cap of $25.74 billion, a P/E ratio of 29.94 and a beta of 0.81. The stock has a 50 day moving average of $124.15 and a 200-day moving average of $120.11. Fiserv, Inc. has a 52 week low of $92.81 and a 52 week high of $129.35.
Fiserv (NASDAQ:FISV) last released its 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. Fiserv had a net margin of 16.04% and a return on equity of 41.79%. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the business posted $1.08 earnings per share. Fiserv’s quarterly revenue was up 1.7% compared to the same quarter last year. Analysts forecast that Fiserv, Inc. will post $5.10 earnings per share for the current year.
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A number of research firms have weighed in on FISV. BidaskClub downgraded shares of Fiserv from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $128.00 price target (up previously from $123.00) on shares of Fiserv in a research note on Tuesday, August 8th. Cowen and Company reaffirmed a “hold” rating and set a $115.00 price target on shares of Fiserv in a research note on Thursday, August 3rd. Barclays PLC reaffirmed an “equal weight” rating and set a $123.00 price target (up previously from $115.00) on shares of Fiserv in a research note on Wednesday, August 2nd. Finally, BMO Capital Markets increased their price target on shares of Fiserv from $112.00 to $133.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 1st. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Fiserv presently has an average rating of “Hold” and an average target price of $126.91.
In other Fiserv news, insider Jeffery W. Yabuki sold 17,000 shares of the firm’s 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 sale, the insider now owns 286,151 shares of the company’s stock, valued at approximately $36,060,749.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 51,000 shares of company stock valued at $6,342,700 over the last three months. 1.80% of the stock is owned by company 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.
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