Covey Capital Advisors LLC Maintains Position in Fiserv, Inc. (NASDAQ:FISV)

Covey Capital Advisors LLC continued to hold its position in shares of Fiserv, Inc. (NASDAQ:FISV) during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,000 shares of the business services provider’s stock at the close of the 2nd quarter. Fiserv accounts for about 0.8% of Covey Capital Advisors LLC’s portfolio, making the stock its 26th biggest position. Covey Capital Advisors LLC’s holdings in Fiserv were worth $734,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in FISV. BlackRock Inc. increased its position in Fiserv by 2,669.4% during the first quarter. BlackRock Inc. now owns 14,345,526 shares of the business services provider’s stock worth $1,654,185,000 after purchasing an additional 13,827,530 shares during the last quarter. Pictet Asset Management Ltd. increased its position in Fiserv by 36.8% during the second quarter. Pictet Asset Management Ltd. now owns 1,105,510 shares of the business services provider’s stock worth $138,498,000 after purchasing an additional 297,400 shares during the last quarter. JPMorgan Chase & Co. increased its position in Fiserv by 152.1% during the first quarter. JPMorgan Chase & Co. now owns 459,649 shares of the business services provider’s stock worth $53,001,000 after purchasing an additional 277,357 shares during the last quarter. Vanguard Group Inc. increased its position in Fiserv by 1.2% during the first quarter. Vanguard Group Inc. now owns 20,783,290 shares of the business services provider’s stock worth $2,396,522,000 after purchasing an additional 255,329 shares during the last quarter. Finally, WINTON GROUP Ltd increased its position in shares of Fiserv by 282.4% during the first quarter. WINTON GROUP Ltd now owns 345,463 shares of the business services provider’s stock valued at $34,363,000 after acquiring an additional 255,125 shares during the last quarter. Hedge funds and other institutional investors own 87.72% of the company’s stock.

In related news, insider Jeffery W. Yabuki sold 17,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $122.02, for a total value of $2,074,340.00. Following the completion of the sale, the insider now owns 269,151 shares in the company, valued at $32,841,805.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kim M. Robak sold 6,124 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $124.54, for a total value of $762,682.96. Following the completion of the sale, the director now owns 42,141 shares of the company’s stock, valued at approximately $5,248,240.14. The disclosure for this sale can be found here. In the last three months, insiders sold 57,124 shares of company stock worth $7,113,543. Insiders own 1.80% of the company’s stock.

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Shares of Fiserv, Inc. (FISV) opened at 126.23 on Friday. The firm has a market cap of $26.57 billion, a PE ratio of 30.90 and a beta of 0.82. Fiserv, Inc. has a 12-month low of $92.81 and a 12-month high of $129.35. The firm’s 50-day moving average is $123.36 and its 200-day moving average is $121.49.

Fiserv (NASDAQ:FISV) last posted its quarterly earnings data on Tuesday, August 1st. The business services provider reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.04). The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.42 billion. Fiserv had a return on equity of 41.79% and a net margin of 16.04%. Fiserv’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.08 EPS. Equities analysts expect that Fiserv, Inc. will post $5.10 earnings per share for the current fiscal year.

Several research firms have recently commented on FISV. Zacks Investment Research raised shares of Fiserv from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Wednesday, July 19th. Guggenheim raised shares of Fiserv from a “neutral” rating to a “buy” rating and raised their price objective for the company from $131.00 to $136.00 in a research note on Monday, July 17th. BidaskClub lowered shares of Fiserv from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Robert W. Baird reissued a “buy” rating and issued a $136.00 price objective on shares of Fiserv in a research note on Friday, September 8th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $123.00 price objective (up previously from $115.00) on shares of Fiserv in a research note on Wednesday, August 2nd. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $127.05.

About Fiserv

Fiserv, Inc is a provider of financial services technology. The Company provides account processing systems; electronic payments processing products and services, such as electronic bill payments, transaction processing, account-to-account transfers, and person-to-person payments; Internet and mobile banking systems, and related services, including document and payment card production and distribution, and lending and risk management products and services.

Institutional Ownership by Quarter for Fiserv (NASDAQ:FISV)

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