SFE Investment Counsel raised its holdings in shares of Fiserv, Inc. (NASDAQ:FISV) by 73.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,411 shares of the business services provider’s stock after purchasing an additional 22,159 shares during the quarter. Fiserv makes up 1.5% of SFE Investment Counsel’s holdings, making the stock its 24th biggest position. SFE Investment Counsel’s holdings in Fiserv were worth $5,602,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in FISV. Massachusetts Financial Services Co. MA increased its position in Fiserv by 22.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 21,216,873 shares of the business services provider’s stock worth $2,525,657,000 after acquiring an additional 3,877,909 shares during the period. Parnassus Investments CA raised its holdings in Fiserv by 29.3% in the 2nd quarter. Parnassus Investments CA now owns 7,549,440 shares of the business services provider’s stock valued at $806,960,000 after acquiring an additional 1,709,950 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Fiserv by 122.0% during the 1st quarter. Royal Bank of Canada now owns 2,819,896 shares of the business services provider’s stock valued at $335,681,000 after acquiring an additional 1,549,760 shares during the period. FIL Ltd grew its holdings in shares of Fiserv by 322.6% during the 1st quarter. FIL Ltd now owns 1,918,303 shares of the business services provider’s stock worth $228,355,000 after purchasing an additional 1,464,334 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Fiserv by 2.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 58,482,671 shares of the business services provider’s stock worth $6,961,777,000 after purchasing an additional 1,433,356 shares during the period. 89.87% of the stock is owned by institutional investors and hedge funds.
In related news, insider Byron C. Vielehr sold 5,000 shares of the stock in a transaction on Friday, June 18th. The stock was sold at an average price of $107.84, for a total value of $539,200.00. Following the completion of the sale, the insider now directly owns 75,877 shares of the company’s stock, valued at approximately $8,182,575.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Guy Chiarello sold 40,000 shares of the company’s stock in a transaction on Thursday, August 19th. The stock was sold at an average price of $117.71, for a total transaction of $4,708,400.00. The disclosure for this sale can be found here. Insiders have sold 75,000 shares of company stock worth $8,696,700 in the last quarter. Company insiders own 1.60% of the company’s stock.
Fiserv (NASDAQ:FISV) last announced its quarterly earnings data on Tuesday, July 27th. The business services provider reported $1.37 EPS for the quarter, topping the consensus estimate of $1.28 by $0.09. Fiserv had a net margin of 7.37% and a return on equity of 10.48%. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter last year, the firm posted $0.93 EPS. The company’s quarterly revenue was up 16.9% on a year-over-year basis. As a group, equities analysts expect that Fiserv, Inc. will post 5.56 EPS for the current fiscal year.
Several equities analysts have commented on the stock. TheStreet raised shares of Fiserv from a “c+” rating to a “b-” rating in a report on Friday, September 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Fiserv from $142.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, August 17th. Truist Securities downgraded Fiserv from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research note on Monday, June 7th. Wedbush reaffirmed an “outperform” rating on shares of Fiserv in a report on Tuesday, July 27th. Finally, BNP Paribas raised shares of Fiserv from an “underperform” rating to a “neutral” rating and set a $116.00 price objective for the company in a research note on Tuesday, August 10th. Seven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $130.60.
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.
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