Wedbush Securities Inc. reduced its holdings in Fiserv, Inc. (NASDAQ:FISV – Get Rating) by 8.6% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,162 shares of the business services provider’s stock after selling 1,428 shares during the quarter. Wedbush Securities Inc.’s holdings in Fiserv were worth $1,537,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Foundations Investment Advisors LLC increased its stake in Fiserv by 3.5% in the 1st quarter. Foundations Investment Advisors LLC now owns 10,815 shares of the business services provider’s stock worth $1,078,000 after acquiring an additional 363 shares during the last quarter. Karpas Strategies LLC increased its position in shares of Fiserv by 7.1% during the 1st quarter. Karpas Strategies LLC now owns 38,925 shares of the business services provider’s stock valued at $3,947,000 after purchasing an additional 2,595 shares during the last quarter. Ellevest Inc. increased its position in shares of Fiserv by 10.4% during the 1st quarter. Ellevest Inc. now owns 3,076 shares of the business services provider’s stock valued at $312,000 after purchasing an additional 289 shares during the last quarter. Graypoint LLC increased its position in shares of Fiserv by 0.9% during the 1st quarter. Graypoint LLC now owns 60,222 shares of the business services provider’s stock valued at $6,107,000 after purchasing an additional 550 shares during the last quarter. Finally, Alta Capital Management LLC increased its position in shares of Fiserv by 4.2% during the 1st quarter. Alta Capital Management LLC now owns 534,298 shares of the business services provider’s stock valued at $54,177,000 after purchasing an additional 21,586 shares during the last quarter. Institutional investors and hedge funds own 97.24% of the company’s stock.
In related news, COO Guy Chiarello sold 43,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 216,864 shares of the company’s stock, valued at approximately $22,621,083.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Holdings LP Valueact acquired 291,659 shares of Fiserv stock in a transaction that occurred on Monday, June 13th. The shares were bought at an average cost of $89.65 per share, with a total value of $26,147,229.35. Following the transaction, the director now owns 14,439,435 shares in the company, valued at $1,294,495,347.75. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 1,404,234 shares of company stock valued at $131,032,589. 1.00% of the stock is currently owned by company insiders.
FISV opened at $88.97 on Friday. The stock has a market cap of $58.01 billion, a PE ratio of 34.75, a PEG ratio of 1.09 and a beta of 0.79. 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 business has a 50-day moving average of $95.74 and a 200-day moving average of $99.61. Fiserv, Inc. has a 52 week low of $87.03 and a 52 week high of $119.86.
Fiserv (NASDAQ:FISV – Get Rating) last released its earnings results on Wednesday, April 27th. The business services provider reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.05. The company had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $3.85 billion. Fiserv had a return on equity of 12.05% and a net margin of 10.23%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.17 EPS. Equities analysts anticipate that Fiserv, Inc. will post 6.48 EPS for the current year.
Several equity analysts have recently commented on the company. Morgan Stanley reduced their price objective on Fiserv from $118.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 21st. Cowen lowered Fiserv from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $144.00 to $126.00 in a research report on Tuesday, April 12th. Wells Fargo & Company began coverage on Fiserv in a report on Monday, April 4th. They set an “overweight” rating and a $122.00 target price for the company. Loop Capital started coverage on Fiserv in a report on Monday, May 2nd. They set a “buy” rating and a $125.00 target price for the company. Finally, Truist Financial dropped their target price on Fiserv from $105.00 to $95.00 and set a “hold” rating for the company in a report on Thursday. Eleven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Fiserv has a consensus rating of “Moderate Buy” and an average target price of $124.64.
About Fiserv: (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 vendor platform.
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