Pictet Asset Management Ltd. lessened its holdings in Fiserv Inc (NASDAQ:FISV) by 5.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,818,562 shares of the business services provider’s stock after selling 152,122 shares during the period. Pictet Asset Management Ltd. owned approximately 0.41% of Fiserv worth $291,975,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. EP Wealth Advisors LLC purchased a new stake in Fiserv during the third quarter valued at about $212,000. Andra AP fonden boosted its position in Fiserv by 94.0% during the third quarter. Andra AP fonden now owns 142,800 shares of the business services provider’s stock valued at $14,793,000 after buying an additional 69,200 shares during the period. Global Retirement Partners LLC boosted its position in Fiserv by 11.2% during the third quarter. Global Retirement Partners LLC now owns 913 shares of the business services provider’s stock valued at $95,000 after buying an additional 92 shares during the period. Stifel Financial Corp boosted its position in Fiserv by 6.5% during the third quarter. Stifel Financial Corp now owns 189,747 shares of the business services provider’s stock valued at $19,647,000 after buying an additional 11,645 shares during the period. Finally, Virtu Financial LLC purchased a new stake in Fiserv during the third quarter valued at about $337,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.
Several analysts have issued reports on FISV shares. BidaskClub lowered shares of Fiserv from a “buy” rating to a “hold” rating in a research report on Thursday, November 28th. Atlantic Securities assumed coverage on shares of Fiserv in a report on Tuesday, September 3rd. They set a “neutral” rating and a $131.00 target price for the company. Robert W. Baird increased their target price on shares of Fiserv from $112.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Citigroup upgraded shares of Fiserv from a “neutral” rating to a “buy” rating in a report on Thursday, August 29th. Finally, UBS Group began coverage on shares of Fiserv in a research note on Monday, October 14th. They issued a “buy” rating and a $120.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company. Fiserv currently has a consensus rating of “Buy” and an average target price of $108.24.
In other Fiserv news, Director Harry Disimone purchased 900 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average price of $116.04 per share, for a total transaction of $104,436.00. Following the purchase, the director now directly owns 5,929 shares of the company’s stock, valued at approximately $688,001.16. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jeffery W. Yabuki sold 25,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $103.67, for a total transaction of $2,591,750.00. Following the sale, the chief executive officer now owns 271,229 shares in the company, valued at $28,118,310.43. The disclosure for this sale can be found here. Insiders have sold a total of 123,000 shares of company stock worth $13,573,170 in the last quarter. Corporate insiders own 1.40% of the company’s stock.
Shares of NASDAQ:FISV traded up $0.37 during trading on Wednesday, reaching $114.79. 2,028,882 shares of the stock traded hands, compared to its average volume of 4,438,148. Fiserv Inc has a 52-week low of $68.45 and a 52-week high of $117.04. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a 50-day moving average of $109.62 and a two-hundred day moving average of $101.15. The stock has a market cap of $79.03 billion, a P/E ratio of 37.03, a price-to-earnings-growth ratio of 2.42 and a beta of 0.80.
Fiserv (NASDAQ:FISV) last issued its earnings results on Wednesday, November 6th. The business services provider reported $1.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.02. The company had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Fiserv had a net margin of 12.11% and a return on equity of 16.73%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted $0.87 earnings per share. Sell-side analysts expect that Fiserv Inc will post 4.01 earnings per share for the current year.
Fiserv Company Profile
Fiserv, Inc, together with its subsidiaries, provides financial services technology worldwide. The company's Payments and Industry Products segment provides electronic bill payment and presentment services; Internet and mobile banking software and services; account-to-account transfers; person-to-person payment services; debit and credit card processing and services; payments infrastructure services; and other electronic payments software and services.
Featured Article: Hang Seng Index (HSI)
Receive News & Ratings for Fiserv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fiserv and related companies with MarketBeat.com's FREE daily email newsletter.