DNB Asset Management AS Reduces Position in Fiserv Inc (FISV)

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DNB Asset Management AS reduced its holdings in Fiserv Inc (NASDAQ:FISV) by 3.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,421 shares of the business services provider’s stock after selling 3,119 shares during the quarter. DNB Asset Management AS’s holdings in Fiserv were worth $6,460,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FISV. Lourd Capital LLC acquired a new stake in shares of Fiserv during the third quarter valued at approximately $531,000. Daiwa SB Investments Ltd. raised its holdings in shares of Fiserv by 9.1% during the third quarter. Daiwa SB Investments Ltd. now owns 10,880 shares of the business services provider’s stock valued at $896,000 after acquiring an additional 910 shares during the period. Bank of Stockton raised its holdings in shares of Fiserv by 4.5% during the third quarter. Bank of Stockton now owns 15,268 shares of the business services provider’s stock valued at $1,257,000 after acquiring an additional 655 shares during the period. Ibex Wealth Advisors raised its holdings in shares of Fiserv by 3.5% during the third quarter. Ibex Wealth Advisors now owns 42,468 shares of the business services provider’s stock valued at $3,462,000 after acquiring an additional 1,442 shares during the period. Finally, Copper Rock Capital Partners LLC raised its holdings in shares of Fiserv by 45.6% during the third quarter. Copper Rock Capital Partners LLC now owns 151,035 shares of the business services provider’s stock valued at $12,329,000 after acquiring an additional 47,285 shares during the period. Institutional investors and hedge funds own 88.36% of the company’s stock.

Shares of FISV opened at $77.14 on Friday. Fiserv Inc has a 52 week low of $60.19 and a 52 week high of $82.79. The company has a market cap of $33.36 billion, a P/E ratio of 29.81, a P/E/G ratio of 2.29 and a beta of 0.79. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.69.

Fiserv (NASDAQ:FISV) last announced its quarterly earnings data on Tuesday, July 31st. The business services provider reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.01. Fiserv had a net margin of 25.14% and a return on equity of 44.25%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the firm posted $0.57 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. On average, equities research analysts predict that Fiserv Inc will post 3.13 EPS for the current year.

A number of research firms have recently issued reports on FISV. BidaskClub lowered shares of Fiserv from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Deutsche Bank boosted their price objective on shares of Fiserv from $63.50 to $71.00 and gave the company a “hold” rating in a research report on Wednesday, August 1st. Zacks Investment Research raised shares of Fiserv from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research report on Friday, August 3rd. Citigroup boosted their price objective on shares of Fiserv from $72.00 to $76.00 and gave the company a “neutral” rating in a research report on Thursday, August 2nd. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $73.00 price objective on shares of Fiserv in a research report on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $78.25.

In other Fiserv news, insider Jeffery W. Yabuki sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $78.64, for a total value of $3,932,000.00. Following the completion of the sale, the insider now directly owns 467,380 shares of the company’s stock, valued at $36,754,763.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 150,000 shares of company stock worth $11,769,500 over the last ninety days. 1.70% of the stock is currently owned by insiders.

Fiserv 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.

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Institutional Ownership by Quarter for Fiserv (NASDAQ:FISV)

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