TIG Advisors LLC bought a new stake in Fiserv Inc (NASDAQ:FISV) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 47,950 shares of the business services provider’s stock, valued at approximately $4,371,000.
Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC raised its stake in shares of Fiserv by 177.5% in the first quarter. SG Americas Securities LLC now owns 4,463 shares of the business services provider’s stock valued at $394,000 after buying an additional 2,855 shares during the period. Cornerstone Advisors Inc. grew its position in shares of Fiserv by 147.8% in the first quarter. Cornerstone Advisors Inc. now owns 2,245 shares of the business services provider’s stock valued at $198,000 after purchasing an additional 1,339 shares in the last quarter. First Allied Advisory Services Inc. purchased a new position in shares of Fiserv in the first quarter valued at $223,000. Stratos Wealth Partners LTD. grew its position in shares of Fiserv by 3.4% in the first quarter. Stratos Wealth Partners LTD. now owns 6,113 shares of the business services provider’s stock valued at $540,000 after purchasing an additional 200 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in Fiserv by 2.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 80,565 shares of the business services provider’s stock worth $7,112,000 after buying an additional 1,750 shares in the last quarter.
In other news, EVP Christopher M. Foskett sold 5,000 shares of Fiserv stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $106.36, for a total transaction of $531,800.00. Following the completion of the sale, the executive vice president now owns 140,248 shares of the company’s stock, valued at $14,916,777.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffery W. Yabuki sold 20,000 shares of Fiserv stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $94.25, for a total transaction of $1,885,000.00. Following the sale, the insider now directly owns 331,429 shares of the company’s stock, valued at approximately $31,237,183.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 116,000 shares of company stock valued at $12,121,250. 1.40% of the stock is currently owned by company insiders.
Fiserv (NASDAQ:FISV) last released its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.02. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. Fiserv had a return on equity of 53.08% and a net margin of 16.08%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $0.75 earnings per share. On average, analysts anticipate that Fiserv Inc will post 3.83 earnings per share for the current fiscal year.
FISV has been the subject of a number of recent analyst reports. Wells Fargo & Co began coverage on Fiserv in a research report on Wednesday, June 19th. They set an “outperform” rating and a $110.00 price target for the company. Northcoast Research upgraded Fiserv from a “neutral” rating to a “buy” rating and set a $90.86 target price on the stock in a research note on Wednesday, June 26th. Canaccord Genuity began coverage on Fiserv in a research note on Thursday, September 12th. They set a “buy” rating and a $130.00 target price on the stock. Robert W. Baird increased their target price on Fiserv from $112.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Berenberg Bank began coverage on Fiserv in a research note on Wednesday, July 31st. They set a “buy” rating and a $121.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-one have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $102.88.
Fiserv Company Profile
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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