People s United Financial Inc. increased its stake in Fiserv Inc (NASDAQ:FISV) by 1.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 216,326 shares of the business services provider’s stock after purchasing an additional 2,754 shares during the quarter. People s United Financial Inc. owned approximately 0.05% of Fiserv worth $17,818,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of FISV. Delaney Dennis R grew its stake in Fiserv by 3.2% during the 3rd quarter. Delaney Dennis R now owns 31,050 shares of the business services provider’s stock valued at $2,558,000 after acquiring an additional 960 shares in the last quarter. Macquarie Group Ltd. grew its stake in Fiserv by 1.6% during the 2nd quarter. Macquarie Group Ltd. now owns 284,676 shares of the business services provider’s stock valued at $21,092,000 after acquiring an additional 4,444 shares in the last quarter. Cullinan Associates Inc. grew its stake in Fiserv by 8.5% during the 3rd quarter. Cullinan Associates Inc. now owns 97,502 shares of the business services provider’s stock valued at $8,032,000 after acquiring an additional 7,670 shares in the last quarter. Findlay Park Partners LLP grew its stake in Fiserv by 27.1% during the 2nd quarter. Findlay Park Partners LLP now owns 1,525,000 shares of the business services provider’s stock valued at $112,987,000 after acquiring an additional 325,000 shares in the last quarter. Finally, Commonwealth Bank of Australia grew its stake in Fiserv by 40.2% during the 2nd quarter. Commonwealth Bank of Australia now owns 30,817 shares of the business services provider’s stock valued at $2,279,000 after acquiring an additional 8,843 shares in the last quarter. 87.58% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Jeffery W. Yabuki sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $76.94, for a total value of $3,847,000.00. Following the completion of the sale, the insider now directly owns 471,157 shares in the company, valued at approximately $36,250,819.58. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 150,000 shares of company stock valued at $11,779,000. Corporate insiders own 1.70% of the company’s stock.
Fiserv (NASDAQ:FISV) last posted its earnings results on Wednesday, October 31st. The business services provider reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.02). Fiserv had a return on equity of 44.31% and a net margin of 25.00%. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the firm posted $1.27 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities analysts forecast that Fiserv Inc will post 3.13 earnings per share for the current year.
Several research firms have weighed in on FISV. BidaskClub cut Fiserv from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. Zacks Investment Research cut Fiserv from a “hold” rating to a “sell” rating in a research note on Monday, October 15th. JPMorgan Chase & Co. cut Fiserv from a “neutral” rating to an “underweight” rating and set a $95.00 price target for the company. in a research note on Tuesday, August 14th. Barclays initiated coverage on Fiserv in a research note on Wednesday, November 14th. They issued an “overweight” rating and a $95.00 price target for the company. Finally, Argus set a $90.00 price target on Fiserv and gave the company a “buy” rating in a research note on Wednesday, September 19th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Fiserv currently has a consensus rating of “Hold” and an average price target of $80.57.
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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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