LMR Partners LLP boosted its stake in shares of Fiserv Inc. (NASDAQ:FISV) by 403.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,415 shares of the company’s stock after buying an additional 16,357 shares during the period. LMR Partners LLP’s holdings in Fiserv were worth $2,219,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of FISV. Financial Architects Inc raised its stake in Fiserv by 957.0% in the second quarter. Financial Architects Inc now owns 1,279 shares of the company’s stock worth $139,000 after buying an additional 1,158 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new stake in Fiserv during the first quarter worth about $141,000. First Manhattan Co. raised its stake in Fiserv by 8.9% in the second quarter. First Manhattan Co. now owns 1,634 shares of the company’s stock worth $177,000 after buying an additional 134 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new stake in Fiserv during the first quarter worth about $200,000. Finally, Franklin Street Advisors Inc. NC bought a new stake in Fiserv during the second quarter worth about $210,000. Hedge funds and other institutional investors own 87.25% of the company’s stock.
Shares of Fiserv Inc. (NASDAQ:FISV) traded up 1.12% during midday trading on Thursday, reaching $100.81. The company had a trading volume of 1,018,736 shares. Fiserv Inc. has a 52 week low of $85.63 and a 52 week high of $111.51. The firm has a market capitalization of $22.16 billion, a price-to-earnings ratio of 25.59 and a beta of 0.91. The stock has a 50-day moving average of $101.46 and a 200 day moving average of $103.64.
Fiserv (NASDAQ:FISV) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.01. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Fiserv had a return on equity of 35.52% and a net margin of 16.89%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the firm earned $0.95 earnings per share. On average, analysts anticipate that Fiserv Inc. will post $4.44 earnings per share for the current year.
A number of research firms recently issued reports on FISV. Zacks Investment Research lowered Fiserv from a “buy” rating to a “hold” rating in a research note on Monday, July 11th. Jefferies Group boosted their price objective on Fiserv from $119.00 to $121.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Barclays PLC boosted their price objective on Fiserv from $100.00 to $104.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 3rd. Credit Suisse Group AG reiterated a “hold” rating and set a $101.00 price objective on shares of Fiserv in a research note on Wednesday, August 3rd. Finally, Deutsche Bank AG upped their target price on Fiserv from $95.00 to $101.00 and gave the stock a “hold” rating in a research note on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. Fiserv presently has a consensus rating of “Hold” and a consensus price target of $106.00.
In other Fiserv news, insider Jeffery W. Yabuki sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $110.80, for a total transaction of $1,329,600.00. Following the sale, the insider now directly owns 344,994 shares of the company’s stock, valued at $38,225,335.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Rahul Gupta sold 15,225 shares of the firm’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $101.02, for a total value of $1,538,029.50. Following the sale, the insider now directly owns 66,129 shares in the company, valued at $6,680,351.58. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
Fiserv Company Profile
Fiserv, Inc is a provider of financial services technology. The Company operates through two segments: Payments and Industry Products (Payments) and Financial Institution Services (Financial). The Payments segment provides debit and credit card processing and services, electronic bill payment and presentment services, Internet and mobile banking software and services, person-to-person payment services, and other electronic payments software and services.
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