Accurate Wealth Management LLC lowered its stake in Fiserv, Inc. (NASDAQ:FISV – Get Rating) by 43.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 16,169 shares of the business services provider’s stock after selling 12,222 shares during the quarter. Accurate Wealth Management LLC’s holdings in Fiserv were worth $1,634,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of FISV. Atlas Capital Advisors LLC grew its stake in Fiserv by 71.9% during the 2nd quarter. Atlas Capital Advisors LLC now owns 306 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 128 shares in the last quarter. Colonial Trust Advisors acquired a new stake in Fiserv during the 3rd quarter valued at approximately $28,000. MV Capital Management Inc. grew its stake in Fiserv by 58.8% during the 3rd quarter. MV Capital Management Inc. now owns 308 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 114 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Fiserv by 61.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 401 shares of the business services provider’s stock worth $37,000 after acquiring an additional 153 shares in the last quarter. Finally, Cambridge Trust Co. grew its position in shares of Fiserv by 45.1% in the 3rd quarter. Cambridge Trust Co. now owns 402 shares of the business services provider’s stock worth $38,000 after acquiring an additional 125 shares in the last quarter. Institutional investors and hedge funds own 88.79% of the company’s stock.
Insider Transactions at Fiserv
In other news, Director Holdings L.P. Valueact sold 1,060,030 shares of the business’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $102.23, for a total value of $108,366,866.90. Following the sale, the director now owns 13,587,746 shares of the company’s stock, valued at approximately $1,389,075,273.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Guy Chiarello sold 8,000 shares of Fiserv stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $114.74, for a total value of $917,920.00. Following the transaction, the chief operating officer now directly owns 211,356 shares in the company, valued at approximately $24,250,987.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Holdings L.P. Valueact sold 1,060,030 shares of Fiserv stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $102.23, for a total value of $108,366,866.90. Following the completion of the transaction, the director now owns 13,587,746 shares in the company, valued at $1,389,075,273.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,755,044 shares of company stock valued at $179,073,098. Corporate insiders own 1.00% of the company’s stock.
Fiserv Stock Performance
Fiserv (NASDAQ:FISV – Get Rating) last posted its quarterly earnings data on Tuesday, February 7th. The business services provider reported $1.91 EPS for the quarter, hitting analysts’ consensus estimates of $1.91. Fiserv had a return on equity of 13.32% and a net margin of 14.26%. The company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.35 billion. During the same quarter in the previous year, the business earned $1.57 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, equities analysts forecast that Fiserv, Inc. will post 7.32 EPS for the current year.
Fiserv declared that its Board of Directors has authorized a share repurchase plan on Thursday, February 23rd that allows the company to buyback 75,000,000 outstanding shares. This buyback authorization allows the business services provider to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.
Analysts Set New Price Targets
Several brokerages have recently commented on FISV. Barclays lifted their target price on Fiserv from $125.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 8th. Mizuho reiterated a “buy” rating and issued a $135.00 target price on shares of Fiserv in a research report on Wednesday, February 8th. StockNews.com began coverage on Fiserv in a research report on Thursday. They issued a “hold” rating for the company. The Goldman Sachs Group decreased their target price on Fiserv from $123.00 to $105.00 and set a “neutral” rating for the company in a research report on Monday, January 9th. Finally, Susquehanna raised their price target on Fiserv from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Wednesday, February 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Fiserv currently has an average rating of “Moderate Buy” and a consensus target price of $127.14.
Fiserv Company Profile
Fiserv, Inc engages in the provision of financial services technology. It operates through the following segments: Merchant Acceptance, Financial Technology, and Payments and Network. The Merchant Acceptance segment provides commerce enabling solutions and serves merchants of all sizes around the world.
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