Parnassus Investments CA Acquires 40,000 Shares of Fiserv Inc (FISV)

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Parnassus Investments CA grew its position in shares of Fiserv Inc (NASDAQ:FISV) by 2.8% in the fourth quarter, HoldingsChannel reports. The firm owned 1,453,696 shares of the business services provider’s stock after purchasing an additional 40,000 shares during the period. Parnassus Investments CA’s holdings in Fiserv were worth $106,832,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FISV. Senator Investment Group LP purchased a new position in shares of Fiserv during the 3rd quarter valued at $148,284,000. Capital International Investors purchased a new position in shares of Fiserv during the 3rd quarter valued at $144,659,000. Mackenzie Financial Corp grew its position in shares of Fiserv by 539.9% during the 3rd quarter. Mackenzie Financial Corp now owns 1,620,229 shares of the business services provider’s stock valued at $133,474,000 after purchasing an additional 1,367,024 shares in the last quarter. State Treasurer State of Michigan grew its position in shares of Fiserv by 246.1% during the 4th quarter. State Treasurer State of Michigan now owns 487,506 shares of the business services provider’s stock valued at $35,827,000 after purchasing an additional 346,650 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Fiserv by 818.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 364,742 shares of the business services provider’s stock valued at $30,029,000 after purchasing an additional 325,033 shares in the last quarter. Hedge funds and other institutional investors own 89.60% of the company’s stock.

Shares of NASDAQ:FISV opened at $84.14 on Tuesday. Fiserv Inc has a 52-week low of $68.25 and a 52-week high of $86.29. The firm has a market capitalization of $34.15 billion, a P/E ratio of 27.14, a P/E/G ratio of 2.06 and a beta of 0.82. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 2.60.

Fiserv (NASDAQ:FISV) last posted its quarterly earnings results on Thursday, February 7th. The business services provider reported $0.84 earnings per share for the quarter, hitting the consensus estimate of $0.84. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.55 billion. Fiserv had a net margin of 20.39% and a return on equity of 47.56%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 earnings per share. Sell-side analysts predict that Fiserv Inc will post 3.46 EPS for the current year.

A number of research analysts have recently commented on FISV shares. Zacks Investment Research lowered shares of Fiserv from a “hold” rating to a “sell” rating in a research report on Monday, October 15th. Credit Suisse Group upped their target price on shares of Fiserv from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, October 15th. BidaskClub upgraded shares of Fiserv from a “hold” rating to a “buy” rating in a research report on Friday, October 19th. Barclays assumed coverage on shares of Fiserv in a research report on Wednesday, November 14th. They issued an “overweight” rating and a $95.00 target price for the company. Finally, Goldman Sachs Group upgraded shares of Fiserv from a “neutral” rating to a “buy” rating and upped their target price for the stock from $78.00 to $92.00 in a research report on Tuesday, December 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $86.49.

In other Fiserv news, insider Jeffery W. Yabuki sold 50,000 shares of the business’s stock in a transaction on Wednesday, December 19th. The shares were sold at an average price of $73.98, for a total value of $3,699,000.00. Following the completion of the sale, the insider now directly owns 320,014 shares of the company’s stock, valued at $23,674,635.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 150,000 shares of company stock valued at $11,106,000 over the last three months. 1.70% of the stock is currently owned by insiders.

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About Fiserv

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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Want to see what other hedge funds are holding FISV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fiserv Inc (NASDAQ:FISV).

Institutional Ownership by Quarter for Fiserv (NASDAQ:FISV)

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