Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its stake in Fiserv Inc (NASDAQ:FISV) by 0.7% in the first quarter, Holdings Channel reports. The institutional investor owned 119,427 shares of the business services provider’s stock after selling 858 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Fiserv were worth $11,344,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tredje AP fonden increased its position in Fiserv by 19.7% during the first quarter. Tredje AP fonden now owns 42,133 shares of the business services provider’s stock valued at $3,984,000 after acquiring an additional 6,939 shares during the last quarter. Nicholas Hoffman & Company LLC. bought a new stake in shares of Fiserv in the 1st quarter worth about $604,000. National Asset Management Inc. boosted its stake in shares of Fiserv by 125.4% during the 1st quarter. National Asset Management Inc. now owns 18,442 shares of the business services provider’s stock worth $1,753,000 after purchasing an additional 10,261 shares during the period. Front Row Advisors LLC purchased a new position in shares of Fiserv during the 1st quarter worth about $65,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Fiserv by 7.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 45,600 shares of the business services provider’s stock valued at $4,331,000 after purchasing an additional 3,153 shares during the last quarter. 92.62% of the stock is owned by institutional investors.
Shares of FISV traded up $0.35 during trading on Friday, reaching $103.93. 3,004,717 shares of the company traded hands, compared to its average volume of 4,695,580. Fiserv Inc has a twelve month low of $73.50 and a twelve month high of $125.05. The stock has a market cap of $69.35 billion, a PE ratio of 57.10, a price-to-earnings-growth ratio of 1.83 and a beta of 0.84. The stock has a 50-day simple moving average of $98.55 and a 200-day simple moving average of $109.12. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.65.
Fiserv (NASDAQ:FISV) last issued its quarterly earnings data on Thursday, May 7th. The business services provider reported $0.99 EPS for the quarter, hitting the consensus estimate of $0.99. Fiserv had a net margin of 8.51% and a return on equity of 9.62%. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same period in the prior year, the business posted $0.84 EPS. The business’s revenue for the quarter was up 150.9% compared to the same quarter last year. On average, equities research analysts predict that Fiserv Inc will post 4.36 EPS for the current year.
In related news, CEO Jeffery W. Yabuki sold 10,000 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $100.30, for a total transaction of $1,003,000.00. Following the completion of the transaction, the chief executive officer now directly owns 365,537 shares in the company, valued at approximately $36,663,361.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffery W. Yabuki sold 300,000 shares of Fiserv stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $104.78, for a total value of $31,434,000.00. Following the completion of the transaction, the chief executive officer now directly owns 357,023 shares of the company’s stock, valued at $37,408,869.94. The disclosure for this sale can be found here. Insiders have sold 330,000 shares of company stock worth $34,308,400 over the last 90 days. 1.60% of the stock is owned by insiders.
FISV has been the topic of a number of analyst reports. Stephens cut their target price on Fiserv from $126.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. Rosenblatt Securities reiterated a “hold” rating and issued a $107.00 price target on shares of Fiserv in a report on Thursday, May 7th. Canaccord Genuity decreased their price objective on Fiserv from $152.00 to $135.00 and set a “buy” rating for the company in a report on Monday, May 11th. ValuEngine raised shares of Fiserv from a “sell” rating to a “hold” rating in a research note on Thursday, April 2nd. Finally, Raymond James dropped their price target on shares of Fiserv from $133.00 to $108.00 and set an “outperform” rating on the stock in a research note on Monday, April 13th. Five analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $120.39.
Fiserv, Inc, together with its subsidiaries, provides financial services technology worldwide. The company's Payments and Industry Products segment provides electronic bill payment and presentment services; Internet and mobile banking software and services; account-to-account transfers; person-to-person payment services; debit and credit card processing and services; payments infrastructure services; and other electronic payments software and services.
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