Meyer Handelman Co. acquired a new stake in shares of Fiserv Inc (NASDAQ:FISV) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,600 shares of the business services provider’s stock, valued at approximately $224,000.
A number of other hedge funds have also recently made changes to their positions in the stock. Cullen Frost Bankers Inc. bought a new position in Fiserv during the 1st quarter valued at about $128,000. Janney Montgomery Scott LLC lifted its stake in Fiserv by 28.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 70,208 shares of the business services provider’s stock valued at $6,198,000 after acquiring an additional 15,748 shares during the period. SeaTown Holdings Pte. Ltd. bought a new position in Fiserv during the 1st quarter valued at about $31,781,000. Osborn Williams & Donohoe LLC bought a new position in Fiserv during the 1st quarter valued at about $64,000. Finally, Duncker Streett & Co. Inc. lifted its stake in Fiserv by 5.1% during the 1st quarter. Duncker Streett & Co. Inc. now owns 40,800 shares of the business services provider’s stock valued at $3,602,000 after acquiring an additional 1,990 shares during the period. 94.99% of the stock is currently owned by institutional investors.
Fiserv stock traded down $0.30 during midday trading on Friday, hitting $86.90. The stock had a trading volume of 1,901,014 shares, compared to its average volume of 4,968,163. The firm has a market capitalization of $34.10 billion, a price-to-earnings ratio of 28.03, a P/E/G ratio of 2.13 and a beta of 0.80. Fiserv Inc has a 52-week low of $68.45 and a 52-week high of $91.19. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.45.
Fiserv (NASDAQ:FISV) last released its earnings results on Tuesday, April 30th. The business services provider reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.02. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.51 billion. Fiserv had a net margin of 16.81% and a return on equity of 50.83%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 EPS. On average, analysts predict that Fiserv Inc will post 3.46 EPS for the current year.
In other Fiserv news, insider Kenneth Best sold 13,280 shares of the stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $84.95, for a total transaction of $1,128,136.00. Following the completion of the sale, the insider now directly owns 38,364 shares of the company’s stock, valued at approximately $3,259,021.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeffery W. Yabuki sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $88.95, for a total transaction of $177,900.00. Following the sale, the insider now directly owns 371,429 shares of the company’s stock, valued at $33,038,609.55. The disclosure for this sale can be found here. Insiders sold a total of 129,912 shares of company stock valued at $11,034,771 over the last three months. 1.40% of the stock is currently owned by insiders.
FISV has been the topic of several research analyst reports. Royal Bank of Canada upgraded shares of Fiserv from a “sector perform” rating to an “outperform” rating and set a $85.50 target price on the stock in a research note on Monday, January 28th. Cowen upgraded shares of Fiserv from a “market perform” rating to an “outperform” rating and set a $80.59 target price on the stock in a research note on Thursday, January 24th. Cantor Fitzgerald reiterated a “hold” rating and issued a $83.00 price objective on shares of Fiserv in a research note on Friday, February 8th. SunTrust Banks reiterated a “hold” rating and issued a $85.21 price objective on shares of Fiserv in a research note on Tuesday, January 29th. Finally, BidaskClub cut shares of Fiserv from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company. Fiserv has a consensus rating of “Buy” and a consensus target price of $89.59.
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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.
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