PNC Financial Services Group Inc. Sells 1,548 Shares of Fiserv, Inc. $FISV

PNC Financial Services Group Inc. lessened its position in Fiserv, Inc. (NASDAQ:FISV) by 0.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 165,558 shares of the business services provider’s stock after selling 1,548 shares during the period. PNC Financial Services Group Inc.’s holdings in Fiserv were worth $28,544,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in FISV. Vise Technologies Inc. purchased a new position in shares of Fiserv during the second quarter valued at approximately $2,320,000. Sowell Financial Services LLC grew its position in Fiserv by 9.7% in the 2nd quarter. Sowell Financial Services LLC now owns 3,540 shares of the business services provider’s stock worth $610,000 after purchasing an additional 314 shares during the period. Factory Mutual Insurance Co. raised its stake in Fiserv by 11.7% during the 2nd quarter. Factory Mutual Insurance Co. now owns 157,000 shares of the business services provider’s stock valued at $27,068,000 after buying an additional 16,500 shares during the last quarter. Dillon & Associates Inc. boosted its stake in shares of Fiserv by 9.1% in the 2nd quarter. Dillon & Associates Inc. now owns 88,570 shares of the business services provider’s stock worth $15,234,000 after buying an additional 7,419 shares during the last quarter. Finally, Ipsen Advisor Group LLC bought a new stake in shares of Fiserv in the second quarter worth $759,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FISV. Wells Fargo & Company raised Fiserv to a “hold” rating in a research report on Wednesday, October 22nd. TD Cowen downgraded shares of Fiserv from a “buy” rating to a “hold” rating and set a $80.00 price objective on the stock. in a report on Thursday, October 30th. Zacks Research lowered shares of Fiserv from a “hold” rating to a “strong sell” rating in a research report on Friday, October 31st. Wall Street Zen downgraded shares of Fiserv from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Finally, The Goldman Sachs Group cut shares of Fiserv from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $149.00 to $79.00 in a research note 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 given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $123.25.

Insider Activity at Fiserv

In related news, Director Lance M. Fritz bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was purchased at an average price of $65.18 per share, for a total transaction of $651,800.00. Following the completion of the transaction, the director owned 13,086 shares in the company, valued at $852,945.48. The trade was a 324.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.75% of the company’s stock.

Fiserv Stock Down 1.7%

FISV opened at $63.42 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.09 and a current ratio of 1.08. Fiserv, Inc. has a fifty-two week low of $60.95 and a fifty-two week high of $238.59. The firm’s fifty day moving average is $111.52 and its 200 day moving average is $142.23. The stock has a market cap of $34.11 billion, a price-to-earnings ratio of 9.80, a price-to-earnings-growth ratio of 0.56 and a beta of 0.90.

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

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.