Fiserv, Inc. (NASDAQ:FISV) Stake Boosted by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lifted its position in Fiserv, Inc. (NASDAQ:FISV) by 7.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,926 shares of the business services provider’s stock after buying an additional 5,842 shares during the period. Fiserv makes up about 1.2% of Marks Group Wealth Management Inc’s investment portfolio, making the stock its 10th biggest position. Marks Group Wealth Management Inc’s holdings in Fiserv were worth $8,769,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in FISV. Massachusetts Financial Services Co. MA raised its holdings in Fiserv by 22.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 21,216,873 shares of the business services provider’s stock worth $2,525,657,000 after purchasing an additional 3,877,909 shares during the period. Parnassus Investments CA raised its holdings in Fiserv by 29.3% in the 2nd quarter. Parnassus Investments CA now owns 7,549,440 shares of the business services provider’s stock worth $806,960,000 after purchasing an additional 1,709,950 shares during the period. Royal Bank of Canada raised its holdings in Fiserv by 122.0% in the 1st quarter. Royal Bank of Canada now owns 2,819,896 shares of the business services provider’s stock worth $335,681,000 after purchasing an additional 1,549,760 shares during the period. FIL Ltd raised its holdings in Fiserv by 322.6% in the 1st quarter. FIL Ltd now owns 1,918,303 shares of the business services provider’s stock worth $228,355,000 after purchasing an additional 1,464,334 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Fiserv by 2.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 58,482,671 shares of the business services provider’s stock worth $6,961,777,000 after purchasing an additional 1,433,356 shares during the period. Hedge funds and other institutional investors own 89.87% of the company’s stock.

A number of equities research analysts have commented on the company. Truist cut Fiserv from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a report on Monday, June 7th. They noted that the move was a valuation call. JPMorgan Chase & Co. raised their price target on Fiserv from $142.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, August 17th. Wedbush restated an “outperform” rating on shares of Fiserv in a research report on Tuesday, July 27th. Exane BNP Paribas upgraded Fiserv from an “underperform” rating to a “neutral” rating and set a $116.00 price objective for the company in a research report on Tuesday, August 10th. Finally, Truist Securities lowered Fiserv from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research report on Monday, June 7th. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fiserv has an average rating of “Buy” and an average target price of $130.60.

NASDAQ:FISV traded up $0.26 during trading hours on Wednesday, reaching $107.65. The company’s stock had a trading volume of 187,884 shares, compared to its average volume of 4,410,651. The company has a market capitalization of $71.29 billion, a P/E ratio of 63.95, a price-to-earnings-growth ratio of 1.31 and a beta of 0.89. Fiserv, Inc. has a 12 month low of $92.81 and a 12 month high of $127.34. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a 50 day moving average price of $112.69 and a two-hundred day moving average price of $115.65.

Fiserv (NASDAQ:FISV) last issued its quarterly earnings data on Tuesday, July 27th. The business services provider reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.09. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.93 billion. Fiserv had a net margin of 7.37% and a return on equity of 10.48%. Fiserv’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.93 earnings per share. As a group, analysts predict that Fiserv, Inc. will post 5.56 EPS for the current fiscal year.

In other news, insider Byron C. Vielehr sold 10,000 shares of the company’s stock in a transaction on Thursday, July 15th. The stock was sold at an average price of $109.63, for a total transaction of $1,096,300.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Guy Chiarello sold 40,000 shares of the business’s stock in a transaction on Thursday, August 19th. The shares were sold at an average price of $117.71, for a total transaction of $4,708,400.00. The disclosure for this sale can be found here. Insiders sold 75,000 shares of company stock valued at $8,696,700 in the last three months. 1.60% of the stock is currently owned by insiders.

About Fiserv

Fiserv, Inc engages in the provision of financial services technology. It operates through the following segments: Merchant Acceptance; Financial Technology; Payments and Network. The Merchant Acceptance segment provides commerce enabling solutions and serves merchants of all sizes around the world. The Financial Technology segment provides financial institutions with financial institutions with the technology solutions need to run operations including products and services that enable financial institutions to process customer deposit and loan accounts.

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Institutional Ownership by Quarter for Fiserv (NASDAQ:FISV)

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