Westfield Capital Management Co. LP Invests $39.81 Million in Fiserv Inc (NASDAQ:FISV)

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Westfield Capital Management Co. LP acquired a new position in shares of Fiserv Inc (NASDAQ:FISV) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 451,001 shares of the business services provider’s stock, valued at approximately $39,814,000.

Several other hedge funds have also bought and sold shares of the company. Bremer Bank National Association acquired a new position in Fiserv in the first quarter valued at $25,000. Sontag Advisory LLC acquired a new position in Fiserv in the fourth quarter valued at $27,000. JOYN Advisors Inc. boosted its holdings in Fiserv by 80.0% in the fourth quarter. JOYN Advisors Inc. now owns 405 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 180 shares during the last quarter. Destination Wealth Management acquired a new position in Fiserv in the fourth quarter valued at $30,000. Finally, WESPAC Advisors SoCal LLC acquired a new position in Fiserv in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 87.39% of the company’s stock.

NASDAQ:FISV traded up $0.39 during mid-day trading on Friday, hitting $89.05. The company had a trading volume of 64,234 shares, compared to its average volume of 3,254,757. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.07 and a quick ratio of 1.07. Fiserv Inc has a 1 year low of $68.45 and a 1 year high of $91.38. The firm has a market capitalization of $35.23 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 2.17 and a beta of 0.78.

Fiserv (NASDAQ:FISV) last released its quarterly earnings data on Tuesday, April 30th. The business services provider reported $0.84 EPS for the quarter, beating the 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 company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the company posted $0.76 earnings per share. The firm’s revenue was up 4.3% compared to the same quarter last year. Equities analysts anticipate that Fiserv Inc will post 3.45 EPS for the current year.

In other Fiserv news, CEO Jeffery W. Yabuki sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $85.21, for a total value of $1,704,200.00. Following the transaction, the chief executive officer now directly owns 391,146 shares of the company’s stock, valued at $33,329,550.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffery W. Yabuki sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $83.96, for a total value of $4,198,000.00. Following the completion of the transaction, the insider now directly owns 436,141 shares in the company, valued at $36,618,398.36. The disclosure for this sale can be found here. Insiders sold 92,000 shares of company stock worth $7,789,900 over the last three months. 1.40% of the stock is currently owned by corporate insiders.

A number of research analysts recently weighed in on the company. Oppenheimer lifted their target price on Fiserv from $97.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday. Moffett Nathanson assumed coverage on Fiserv in a report on Tuesday, May 21st. They issued a “buy” rating and a $108.00 target price on the stock. Keefe, Bruyette & Woods assumed coverage on Fiserv in a report on Monday, April 8th. They issued a “market perform” rating and a $101.00 target price on the stock. BidaskClub upgraded Fiserv from a “hold” rating to a “buy” rating in a report on Saturday, March 30th. Finally, Susquehanna Bancshares assumed coverage on Fiserv in a report on Friday, May 31st. They issued a “neutral” rating and a $95.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company’s stock. Fiserv has an average rating of “Buy” and a consensus price target of $91.45.

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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; 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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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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