Frank Rimerman Advisors LLC Lowers Position in Fiserv, Inc. $FISV

Frank Rimerman Advisors LLC trimmed its position in shares of Fiserv, Inc. (NASDAQ:FISV) by 28.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,952 shares of the business services provider’s stock after selling 2,375 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Fiserv were worth $1,026,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FISV. Activest Wealth Management increased its position in Fiserv by 3,150.0% during the 1st quarter. Activest Wealth Management now owns 130 shares of the business services provider’s stock worth $29,000 after purchasing an additional 126 shares during the period. Hager Investment Management Services LLC acquired a new position in Fiserv during the second quarter worth $34,000. Christopher J. Hasenberg Inc raised its position in Fiserv by 218.5% in the second quarter. Christopher J. Hasenberg Inc now owns 207 shares of the business services provider’s stock worth $36,000 after acquiring an additional 142 shares in the last quarter. Armstrong Advisory Group Inc. lifted its holdings in Fiserv by 178.9% in the second quarter. Armstrong Advisory Group Inc. now owns 212 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 136 shares during the period. Finally, Saudi Central Bank purchased a new stake in shares of Fiserv during the 1st quarter worth $49,000. Institutional investors and hedge funds own 90.98% of the company’s stock.

Fiserv Trading Down 2.2%

Shares of Fiserv stock opened at $61.34 on Wednesday. Fiserv, Inc. has a 1 year low of $60.95 and a 1 year high of $238.59. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.08 and a quick ratio of 1.09. The business has a 50 day moving average price of $108.57 and a 200 day moving average price of $139.91. The company has a market capitalization of $33.34 billion, a P/E ratio of 9.48, a P/E/G ratio of 0.56 and a beta of 0.90.

Fiserv (NASDAQ:FISV) last announced its earnings results on Tuesday, March 26th. The business services provider reported $1.91 EPS for the quarter. Fiserv had a return on equity of 19.47% and a net margin of 17.05%.The firm had revenue of $4.32 billion for the quarter. Sell-side analysts anticipate that Fiserv, Inc. will post 10.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FISV has been the subject of a number of research analyst reports. UBS Group set a $75.00 price target on shares of Fiserv and gave the company a “neutral” rating in a report on Thursday, October 30th. BTIG Research cut shares of Fiserv from a “buy” rating to a “neutral” rating in a report on Wednesday, October 29th. Jefferies Financial Group decreased their price target on Fiserv from $130.00 to $125.00 and set a “hold” rating on the stock in a research note on Monday, October 13th. Citigroup lowered their price target on Fiserv from $128.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Finally, Argus reaffirmed a “hold” rating on shares of Fiserv in a report on Thursday, October 30th. Eleven research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $123.25.

Insider Buying and Selling

In other news, Director Lance M. Fritz purchased 10,000 shares of the firm’s stock in a transaction on Thursday, October 30th. The shares were bought at an average cost of $65.18 per share, with a total value of $651,800.00. Following the purchase, the director directly owned 13,086 shares of the company’s stock, valued at approximately $852,945.48. This trade represents a 324.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.75% of the company’s stock.

Fiserv Company Profile

Fiserv, Inc, together with its subsidiaries, provides payments and financial services technology services in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally. It operates through Merchant Acceptance, Financial Technology, and Payments and Network segments.