Front Barnett Associates LLC trimmed its stake in shares of Fiserv Inc (NASDAQ:FISV) by 0.6% in the 1st quarter, HoldingsChannel reports. The firm owned 19,508 shares of the business services provider’s stock after selling 125 shares during the period. Front Barnett Associates LLC’s holdings in Fiserv were worth $1,722,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Fiserv by 2.9% during the 4th quarter. BlackRock Inc. now owns 31,345,393 shares of the business services provider’s stock worth $2,303,573,000 after acquiring an additional 898,122 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Fiserv by 3.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 23,638,292 shares of the business services provider’s stock worth $1,737,178,000 after acquiring an additional 845,558 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Fiserv by 7,194.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,345,408 shares of the business services provider’s stock worth $141,000 after acquiring an additional 10,203,585 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Fiserv by 8.2% during the 4th quarter. Geode Capital Management LLC now owns 6,221,364 shares of the business services provider’s stock worth $456,535,000 after acquiring an additional 469,507 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Fiserv by 3.0% during the 4th quarter. Northern Trust Corp now owns 5,360,120 shares of the business services provider’s stock worth $393,915,000 after acquiring an additional 154,269 shares in the last quarter. 90.56% of the stock is owned by hedge funds and other institutional investors.
Fiserv stock opened at $87.30 on Friday. Fiserv Inc has a fifty-two week low of $68.45 and a fifty-two week high of $91.19. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.45. The stock has a market capitalization of $34.26 billion, a PE ratio of 28.16, a PEG ratio of 2.11 and a beta of 0.80.
Fiserv (NASDAQ:FISV) last posted its earnings results on Tuesday, April 30th. The business services provider reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.02. Fiserv had a return on equity of 50.83% and a net margin of 16.81%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the previous year, the business earned $0.76 EPS. The business’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities research analysts expect that Fiserv Inc will post 3.45 EPS for the current year.
Several research analysts have recently issued reports on FISV shares. Royal Bank of Canada raised Fiserv from a “sector perform” rating to an “outperform” rating and set a $85.50 price objective for the company in a research report on Monday, January 28th. Cowen raised Fiserv from a “market perform” rating to an “outperform” rating and set a $80.59 price objective for the company in a research report on Thursday, January 24th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $83.00 price objective on shares of Fiserv in a research report on Friday, February 8th. BidaskClub cut Fiserv from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $85.21 price objective on shares of Fiserv in a research report on Tuesday, January 29th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. Fiserv has a consensus rating of “Hold” and an average target price of $88.57.
In other Fiserv news, insider Jeffery W. Yabuki sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $85.49, for a total transaction of $1,709,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kim M. Robak sold 10,904 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $87.01, for a total value of $948,757.04. Following the sale, the director now directly owns 85,610 shares of the company’s stock, valued at $7,448,926.10. The disclosure for this sale can be found here. Insiders sold a total of 177,912 shares of company stock valued at $15,099,371 over the last three months. Company insiders own 1.40% of the company’s stock.
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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; Internet and 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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