Fred Alger Management Inc. reduced its stake in Fiserv Inc (NASDAQ:FISV) by 30.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 39,242 shares of the business services provider’s stock after selling 17,087 shares during the period. Fred Alger Management Inc.’s holdings in Fiserv were worth $5,146,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of FISV. Ardevora Asset Management LLP purchased a new stake in Fiserv in the 3rd quarter valued at $35,645,000. Ninepoint Partners LP purchased a new stake in Fiserv in the 3rd quarter valued at $27,056,000. PGGM Investments purchased a new stake in Fiserv in the 4th quarter valued at $27,026,000. BlackRock Inc. grew its holdings in Fiserv by 1.1% in the 4th quarter. BlackRock Inc. now owns 15,046,546 shares of the business services provider’s stock valued at $1,973,053,000 after buying an additional 166,837 shares in the last quarter. Finally, Sawgrass Asset Management LLC purchased a new stake in Fiserv in the 3rd quarter valued at $17,228,000. Institutional investors own 89.49% of the company’s stock.
Fiserv Inc (NASDAQ FISV) opened at $148.23 on Monday. Fiserv Inc has a 12 month low of $113.29 and a 12 month high of $148.42. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.79. The stock has a market capitalization of $30,625.49, a PE ratio of 28.95, a P/E/G ratio of 2.07 and a beta of 0.83.
Fiserv (NASDAQ:FISV) last posted its earnings results on Wednesday, February 7th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.03. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.51 billion. Fiserv had a return on equity of 44.58% and a net margin of 21.88%. Fiserv’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 EPS. analysts forecast that Fiserv Inc will post 6.23 earnings per share for the current year.
Several brokerages have issued reports on FISV. BMO Capital Markets upped their target price on Fiserv from $133.00 to $152.00 and gave the company an “average” rating in a report on Thursday, February 8th. ValuEngine cut Fiserv from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Stephens reiterated a “hold” rating and set a $146.00 price target on shares of Fiserv in a report on Friday, February 9th. Guggenheim reiterated a “buy” rating and set a $160.00 price target on shares of Fiserv in a report on Monday, January 29th. Finally, Argus set a $148.00 price target on Fiserv and gave the stock a “buy” rating in a report on Friday, January 12th. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Fiserv has a consensus rating of “Hold” and an average target price of $140.73.
In other Fiserv news, insider Jeffery W. Yabuki sold 17,000 shares of the stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $131.18, for a total value of $2,230,060.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Harry Disimone purchased 353 shares of Fiserv stock in a transaction on Wednesday, February 21st. The stock was bought at an average cost of $141.59 per share, for a total transaction of $49,981.27. Following the transaction, the director now directly owns 154 shares in the company, valued at $21,804.86. The disclosure for this purchase can be found here. Insiders sold a total of 73,160 shares of company stock worth $10,037,582 in the last ninety days. 1.80% of the stock is owned by corporate insiders.
Fiserv, Inc is a provider of financial services technology. The Company provides account processing systems; electronic payments processing products and services, such as electronic bill payments, transaction processing, account-to-account transfers, and person-to-person payments; Internet and mobile banking systems, and related services, including document and payment card production and distribution, and lending and risk management products and services.
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