LPL Financial LLC Raises Position in Fiserv Inc (FISV)

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LPL Financial LLC increased its position in Fiserv Inc (NASDAQ:FISV) by 129.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 61,853 shares of the business services provider’s stock after buying an additional 34,910 shares during the quarter. LPL Financial LLC’s holdings in Fiserv were worth $4,411,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. increased its holdings in Fiserv by 101.0% in the 1st quarter. BlackRock Inc. now owns 30,249,062 shares of the business services provider’s stock valued at $2,157,059,000 after purchasing an additional 15,202,516 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Fiserv by 114.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 21,553,403 shares of the business services provider’s stock valued at $1,536,975,000 after purchasing an additional 11,520,537 shares in the last quarter. Northern Trust Corp increased its holdings in Fiserv by 96.4% in the 1st quarter. Northern Trust Corp now owns 5,332,497 shares of the business services provider’s stock valued at $380,260,000 after purchasing an additional 2,617,155 shares in the last quarter. Winslow Capital Management LLC increased its holdings in Fiserv by 91.6% in the 1st quarter. Winslow Capital Management LLC now owns 3,615,765 shares of the business services provider’s stock valued at $257,839,000 after purchasing an additional 1,728,607 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Fiserv by 173.1% in the 1st quarter. JPMorgan Chase & Co. now owns 2,221,443 shares of the business services provider’s stock valued at $158,412,000 after purchasing an additional 1,408,091 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

FISV has been the subject of several recent research reports. Stephens reiterated a “hold” rating and issued a $73.00 price target on shares of Fiserv in a report on Thursday, April 5th. Cowen reiterated a “hold” rating and issued a $68.00 price target on shares of Fiserv in a report on Friday, March 23rd. BidaskClub upgraded Fiserv from a “buy” rating to a “strong-buy” rating in a report on Friday, June 8th. ValuEngine downgraded Fiserv from a “hold” rating to a “sell” rating in a research note on Thursday, March 22nd. Finally, Credit Suisse Group lowered their target price on Fiserv from $68.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, May 2nd. Ten analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Fiserv currently has an average rating of “Hold” and an average target price of $71.50.

In related news, insider Jeffery W. Yabuki sold 50,000 shares of Fiserv stock in a transaction dated Wednesday, June 20th. The stock was sold at an average price of $76.34, for a total value of $3,817,000.00. Following the completion of the transaction, the insider now directly owns 567,380 shares in the company, valued at $43,313,789.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kim M. Robak sold 10,388 shares of Fiserv stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $72.92, for a total value of $757,492.96. Following the completion of the transaction, the director now owns 85,094 shares of the company’s stock, valued at $6,205,054.48. The disclosure for this sale can be found here. Insiders sold 160,388 shares of company stock valued at $11,792,993 over the last quarter. Insiders own 1.70% of the company’s stock.

Shares of Fiserv opened at $74.18 on Wednesday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $30.45 billion, a PE ratio of 27.60, a price-to-earnings-growth ratio of 2.07 and a beta of 0.83. Fiserv Inc has a 1-year low of $59.85 and a 1-year high of $76.98.

Fiserv (NASDAQ:FISV) last announced its earnings results on Tuesday, May 1st. The business services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.03. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.44 billion. Fiserv had a return on equity of 44.13% and a net margin of 24.76%. The company’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $1.13 earnings per share. analysts predict that Fiserv Inc will post 3.12 EPS for the current fiscal 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; 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.

Institutional Ownership by Quarter for Fiserv (NASDAQ:FISV)

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