Rafferty Asset Management LLC lessened its position in Fiserv, Inc. (NASDAQ:FISV) by 14.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,934 shares of the business services provider’s stock after selling 7,107 shares during the quarter. Rafferty Asset Management LLC’s holdings in Fiserv were worth $5,253,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in FISV. BlackRock Inc. raised its position in Fiserv by 2,669.4% in the 1st quarter. BlackRock Inc. now owns 14,345,526 shares of the business services provider’s stock valued at $1,654,185,000 after buying an additional 13,827,530 shares during the last quarter. Pictet Asset Management Ltd. raised its position in Fiserv by 36.8% in the 2nd quarter. Pictet Asset Management Ltd. now owns 1,105,510 shares of the business services provider’s stock valued at $138,498,000 after buying an additional 297,400 shares during the last quarter. JPMorgan Chase & Co. raised its position in Fiserv by 152.1% in the 1st quarter. JPMorgan Chase & Co. now owns 459,649 shares of the business services provider’s stock valued at $53,001,000 after buying an additional 277,357 shares during the last quarter. Vanguard Group Inc. raised its position in Fiserv by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 20,783,290 shares of the business services provider’s stock valued at $2,396,522,000 after buying an additional 255,329 shares during the last quarter. Finally, WINTON GROUP Ltd raised its position in Fiserv by 282.4% in the 1st quarter. WINTON GROUP Ltd now owns 345,463 shares of the business services provider’s stock valued at $34,363,000 after buying an additional 255,125 shares during the last quarter. 87.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of Fiserv, Inc. (FISV) traded up 0.16% on Tuesday, hitting $125.73. The stock had a trading volume of 101,810 shares. The company has a 50-day moving average of $123.46 and a 200 day moving average of $121.44. The company has a market capitalization of $26.46 billion, a price-to-earnings ratio of 30.78 and a beta of 0.82. Fiserv, Inc. has a 52 week low of $92.81 and a 52 week high of $129.35.
Fiserv (NASDAQ:FISV) last issued its quarterly earnings results on Tuesday, August 1st. The business services provider reported $1.19 EPS for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($0.04). The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Fiserv had a net margin of 16.04% and a return on equity of 41.79%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.08 earnings per share. On average, equities research analysts predict that Fiserv, Inc. will post $5.10 EPS for the current year.
Several research analysts have weighed in on FISV shares. 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 report on Wednesday, August 2nd. Cantor Fitzgerald reaffirmed a “hold” rating and set a $118.00 price target on shares of Fiserv in a research report on Tuesday, June 20th. BidaskClub raised Fiserv from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Wedbush reaffirmed an “outperform” rating and set a $146.25 price target (up previously from $115.00) on shares of Fiserv in a research report on Tuesday, June 6th. Finally, Zacks Investment Research raised Fiserv from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research report on Wednesday, July 19th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $127.05.
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In related news, insider Jeffery W. Yabuki sold 17,000 shares of the stock in a transaction that occurred 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 directly owns 286,151 shares of the company’s stock, valued at $36,060,749.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 51,000 shares of company stock valued at $6,342,700 over the last ninety days. 1.80% of the stock is currently owned by company insiders.
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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