JPMorgan Chase & Co. trimmed its stake in shares of Fiserv Inc (NASDAQ:FISV) by 9.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 561,338 shares of the business services provider’s stock after selling 57,163 shares during the period. JPMorgan Chase & Co. owned approximately 0.27% of Fiserv worth $71,969,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. increased its stake in Fiserv by 61.9% in the second quarter. Russell Investments Group Ltd. now owns 136,289 shares of the business services provider’s stock valued at $16,674,000 after purchasing an additional 52,122 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Fiserv by 156.2% during the second quarter. Acadian Asset Management LLC now owns 2,839 shares of the business services provider’s stock worth $348,000 after acquiring an additional 1,731 shares in the last quarter. Strs Ohio increased its position in shares of Fiserv by 5.0% during the second quarter. Strs Ohio now owns 7,324 shares of the business services provider’s stock worth $896,000 after acquiring an additional 352 shares in the last quarter. Rothschild Asset Management Inc. increased its position in shares of Fiserv by 9.5% during the second quarter. Rothschild Asset Management Inc. now owns 4,206 shares of the business services provider’s stock worth $515,000 after acquiring an additional 364 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Fiserv by 62.7% during the second quarter. Bessemer Group Inc. now owns 2,083 shares of the business services provider’s stock worth $255,000 after acquiring an additional 803 shares in the last quarter. Institutional investors own 88.47% of the company’s stock.
FISV has been the subject of several research reports. Royal Bank of Canada reissued a “hold” rating and set a $128.00 price objective on shares of Fiserv in a research report on Wednesday, September 6th. Robert W. Baird reaffirmed a “buy” rating and issued a $136.00 target price on shares of Fiserv in a research report on Friday, September 8th. Zacks Investment Research cut shares of Fiserv from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Cowen reiterated a “hold” rating and issued a $115.00 price target on shares of Fiserv in a research note on Thursday, October 12th. Finally, Cantor Fitzgerald restated a “hold” rating and set a $126.00 target price on shares of Fiserv in a research note on Wednesday, November 1st. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $130.41.
Fiserv (NASDAQ:FISV) last released its earnings results on Tuesday, October 31st. The business services provider reported $1.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($0.03). Fiserv had a net margin of 16.31% and a return on equity of 43.56%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the previous year, the firm earned $1.14 EPS. The firm’s revenue was up 1.4% on a year-over-year basis. sell-side analysts expect that Fiserv Inc will post 5.08 earnings per share for the current year.
In other Fiserv news, insider Byron C. Vielehr sold 10,000 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $131.03, for a total transaction of $1,310,300.00. Following the completion of the sale, the insider now owns 19,719 shares in the company, valued at approximately $2,583,780.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kevin J. Schultz sold 3,439 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $131.51, for a total transaction of $452,262.89. The disclosure for this sale can be found here. Insiders have sold a total of 49,439 shares of company stock valued at $6,412,063 in the last 90 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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