Ionic Capital Management LLC purchased a new stake in Fiserv, Inc. (NASDAQ:FISV) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,000 shares of the business services provider’s stock, valued at approximately $1,428,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Vantage Consulting Group Inc acquired a new stake in shares of Fiserv during the fourth quarter worth $26,000. CVA Family Office LLC bought a new position in shares of Fiserv during the first quarter worth about $29,000. Sonora Investment Management LLC grew its position in Fiserv by 100.0% in the 1st quarter. Sonora Investment Management LLC now owns 246 shares of the business services provider’s stock valued at $29,000 after buying an additional 123 shares in the last quarter. Center for Financial Planning Inc. bought a new position in Fiserv in the 1st quarter valued at about $33,000. Finally, Capital Asset Advisory Services LLC acquired a new stake in Fiserv in the 4th quarter valued at about $34,000. 91.55% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on FISV. Zacks Investment Research downgraded Fiserv from a “buy” rating to a “hold” rating and set a $133.00 price objective on the stock. in a report on Monday, April 19th. TheStreet cut Fiserv from a “b-” rating to a “c+” rating in a research report on Friday, July 9th. Morgan Stanley raised their target price on Fiserv from $115.00 to $124.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 22nd. Truist Securities cut Fiserv from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a report on Monday, June 7th. Finally, Raymond James lifted their price objective on Fiserv from $139.00 to $141.00 and gave the company an “outperform” rating in a report on Wednesday, April 28th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $132.16.
Fiserv (NASDAQ:FISV) last released its quarterly earnings data on Tuesday, April 27th. The business services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.04. The business had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.80 billion. Fiserv had a return on equity of 9.56% and a net margin of 5.86%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 EPS. As a group, equities analysts predict that Fiserv, Inc. will post 5.44 earnings per share for the current fiscal year.
In other news, major shareholder Kkr Group Partnership L.P. sold 23,000,000 shares of Fiserv stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $117.70, for a total transaction of $2,707,100,000.00. Also, insider Byron C. Vielehr sold 5,000 shares of Fiserv stock in a transaction that occurred on Friday, June 18th. The shares were sold at an average price of $107.84, for a total transaction of $539,200.00. Following the sale, the insider now directly owns 75,877 shares of the company’s stock, valued at approximately $8,182,575.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,015,000 shares of company stock valued at $2,708,735,500. Company insiders own 1.60% of the company’s stock.
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.
Read More: What is a back-end load?
Receive News & Ratings for Fiserv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fiserv and related companies with MarketBeat.com's FREE daily email newsletter.