Meyer Handelman Co. bought a new position in shares of Fiserv Inc (NASDAQ:FISV) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,600 shares of the business services provider’s stock, valued at approximately $214,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sonora Investment Management LLC acquired a new stake in shares of Fiserv during the second quarter worth $106,000. Fort L.P. acquired a new position in Fiserv in the second quarter valued at about $120,000. Braun Bostich & Associates Inc. raised its stake in Fiserv by 515.8% in the second quarter. Braun Bostich & Associates Inc. now owns 1,712 shares of the business services provider’s stock valued at $127,000 after purchasing an additional 1,434 shares in the last quarter. TRUE Private Wealth Advisors acquired a new position in Fiserv in the third quarter valued at about $143,000. Finally, Twin Tree Management LP acquired a new position in Fiserv in the second quarter valued at about $135,000. 87.48% of the stock is owned by institutional investors.
In other Fiserv news, insider Jeffery W. Yabuki sold 50,000 shares of Fiserv stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $79.72, for a total value of $3,986,000.00. Following the transaction, the insider now owns 418,380 shares in the company, valued at $33,353,253.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 150,000 shares of company stock worth $11,864,000. Company insiders own 1.80% of the company’s stock.
Fiserv (NASDAQ:FISV) last released its earnings results on Wednesday, October 31st. The business services provider reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.02). Fiserv had a net margin of 25.00% and a return on equity of 44.31%. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the firm earned $1.27 EPS. The business’s revenue was up .9% on a year-over-year basis. On average, sell-side analysts predict that Fiserv Inc will post 3.13 earnings per share for the current fiscal year.
A number of research analysts recently commented on the company. BidaskClub downgraded Fiserv from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. Deutsche Bank boosted their price target on Fiserv from $63.50 to $71.00 and gave the company a “hold” rating in a research note on Wednesday, August 1st. Zacks Investment Research downgraded Fiserv from a “hold” rating to a “sell” rating in a research note on Monday, October 15th. Citigroup boosted their price target on Fiserv from $72.00 to $76.00 and gave the company a “neutral” rating in a research note on Thursday, August 2nd. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $73.00 price target on shares of Fiserv in a research note on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Fiserv presently has a consensus rating of “Hold” and a consensus target price of $78.82.
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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