Independence Bank of Kentucky Sells 10,200 Shares of Fiserv, Inc. $FISV

Independence Bank of Kentucky lowered its position in Fiserv, Inc. (NASDAQ:FISV) by 65.5% during the second quarter, Holdings Channel reports. The institutional investor owned 5,375 shares of the business services provider’s stock after selling 10,200 shares during the quarter. Independence Bank of Kentucky’s holdings in Fiserv were worth $264,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FISV. Dodge & Cox purchased a new stake in shares of Fiserv during the 4th quarter valued at $3,323,210,000. BlackRock Inc. purchased a new position in Fiserv during the 2nd quarter worth $2,079,711,000. State Street Corp acquired a new position in Fiserv during the 4th quarter valued at about $1,588,663,000. Geode Capital Management LLC acquired a new position in Fiserv during the 4th quarter valued at about $854,215,000. Finally, Amundi purchased a new stake in Fiserv in the fourth quarter valued at about $825,819,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insider Buying and Selling at Fiserv

In related news, CFO Paul M. Todd bought 10,060 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was acquired at an average price of $49.70 per share, with a total value of $499,982.00. Following the completion of the purchase, the chief financial officer directly owned 184,107 shares of the company’s stock, valued at approximately $9,150,117.90. This trade represents a 5.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lance M. Fritz purchased 10,000 shares of Fiserv stock in a transaction that occurred on Friday, August 7th. The shares were bought at an average price of $51.95 per share, with a total value of $519,500.00. Following the transaction, the director owned 27,207 shares in the company, valued at approximately $1,413,403.65. The trade was a 58.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FISV. BNP Paribas Exane downgraded Fiserv from a “neutral” rating to an “underperform” rating and set a $46.00 price target for the company. in a report on Friday, June 5th. Keefe, Bruyette & Woods lowered their target price on shares of Fiserv from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Fiserv from $63.00 to $60.00 in a research report on Monday, May 11th. Weiss Ratings lowered shares of Fiserv from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, June 12th. Finally, Rothschild & Co Redburn decreased their price target on shares of Fiserv from $50.00 to $40.00 and set a “sell” rating for the company in a report on Tuesday, May 12th. Six research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Fiserv presently has an average rating of “Hold” and a consensus price target of $74.20.

Fiserv Trading Up 0.6%

Shares of Fiserv stock opened at $51.98 on Thursday. The company has a market cap of $27.64 billion, a P/E ratio of 9.98, a price-to-earnings-growth ratio of 3.89 and a beta of 0.80. The firm has a 50-day simple moving average of $52.05 and a two-hundred day simple moving average of $55.38. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.04 and a current ratio of 1.04. Fiserv, Inc. has a fifty-two week low of $47.04 and a fifty-two week high of $138.62.

Fiserv (NASDAQ:FISV) last issued its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.84 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.07). Fiserv had a net margin of 13.42% and a return on equity of 15.80%. The business had revenue of $4.96 billion during the quarter, compared to analyst estimates of $5.04 billion. Fiserv’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, equities analysts predict that Fiserv, Inc. will post 7.26 earnings per share for the current fiscal year.

Fiserv Profile

Fiserv, Inc, founded in 1984 and headquartered in Brookfield, Wisconsin, is a global provider of financial services technology. The company develops and delivers integrated solutions for payments, processing, risk and compliance, customer and channel management, and business insights and optimization. Serving thousands of clients, Fiserv supports banks, credit unions, securities broker-dealers, leasing and finance companies, and retailers.

Fiserv’s core offerings include account processing systems that automate deposit, lending and transaction processing for financial institutions, as well as digital banking platforms that enable mobile and online banking services.