Smithbridge Asset Management Inc. DE lessened its holdings in shares of Fiserv, Inc. (NASDAQ:FISV – Get Rating) by 4.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 48,625 shares of the business services provider's stock after selling 2,038 shares during the quarter. Fiserv comprises approximately 1.7% of Smithbridge Asset Management Inc. DE's portfolio, making the stock its 24th biggest holding. Smithbridge Asset Management Inc. DE's holdings in Fiserv were worth $4,326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of FISV. Veritas Asset Management LLP grew its holdings in Fiserv by 27.2% during the first quarter. Veritas Asset Management LLP now owns 10,021,216 shares of the business services provider's stock valued at $1,016,151,000 after purchasing an additional 2,144,100 shares during the period. Glenview Capital Management LLC grew its stake in shares of Fiserv by 329.2% during the 1st quarter. Glenview Capital Management LLC now owns 2,142,801 shares of the business services provider's stock valued at $217,280,000 after acquiring an additional 1,643,595 shares during the period. Focused Investors LLC purchased a new stake in Fiserv in the 1st quarter worth approximately $133,199,000. Caisse DE Depot ET Placement DU Quebec raised its stake in Fiserv by 518.1% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,123,613 shares of the business services provider's stock worth $113,934,000 after acquiring an additional 941,832 shares during the period. Finally, Baupost Group LLC MA lifted its holdings in Fiserv by 30.8% during the first quarter. Baupost Group LLC MA now owns 3,988,391 shares of the business services provider's stock valued at $404,423,000 after purchasing an additional 938,391 shares in the last quarter. Institutional investors own 94.01% of the company's stock.
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Insider Activity
In related news, Director Harry Disimone sold 2,706 shares of the firm's stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $108.72, for a total transaction of $294,196.32. Following the completion of the sale, the director now directly owns 12,947 shares of the company's stock, valued at approximately $1,407,597.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Fiserv news, COO Guy Chiarello sold 4,000 shares of the business's stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $100.00, for a total value of $400,000.00. Following the completion of the sale, the chief operating officer now directly owns 228,553 shares of the company's stock, valued at approximately $22,855,300. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Harry Disimone sold 2,706 shares of the firm's stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $108.72, for a total transaction of $294,196.32. Following the transaction, the director now directly owns 12,947 shares in the company, valued at $1,407,597.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,706 shares of company stock valued at $4,266,896. 1.00% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several analysts have recently commented on FISV shares. Raymond James decreased their price objective on shares of Fiserv from $117.00 to $109.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 18th. TheStreet downgraded Fiserv from a "b-" rating to a "c+" rating in a research report on Friday, July 8th. Truist Financial cut their target price on Fiserv from $105.00 to $95.00 and set a "hold" rating for the company in a research report on Thursday, June 30th. Keefe, Bruyette & Woods decreased their target price on Fiserv from $135.00 to $115.00 in a research note on Monday, July 11th. Finally, Wells Fargo & Company upped their price target on Fiserv from $100.00 to $107.00 and gave the stock an "equal weight" rating in a research note on Thursday, September 8th. Eleven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Fiserv has an average rating of "Moderate Buy" and a consensus price target of $123.36.
Fiserv Trading Up 1.8 %
NASDAQ FISV traded up $1.73 on Friday, hitting $96.74. 5,468,260 shares of the stock were exchanged, compared to its average volume of 3,631,297. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.05 and a current ratio of 1.05. Fiserv, Inc. has a 52-week low of $87.03 and a 52-week high of $111.84. The firm has a market capitalization of $61.87 billion, a P/E ratio of 31.41, a P/E/G ratio of 1.08 and a beta of 0.87. The stock has a fifty day moving average price of $101.47 and a two-hundred day moving average price of $99.04.
Fiserv (NASDAQ:FISV – Get Rating) last released its quarterly earnings results on Tuesday, July 26th. The business services provider reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.02. Fiserv had a net margin of 11.92% and a return on equity of 12.40%. The firm had revenue of $4.45 billion during the quarter, compared to analysts' expectations of $4.06 billion. During the same period in the previous year, the company earned $1.37 EPS. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. Research analysts forecast that Fiserv, Inc. will post 6.48 EPS for the current fiscal year.
About Fiserv
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Fiserv, Inc, together with its subsidiaries, provides payment and financial services technology worldwide. The company operates through Acceptance, Fintech, and Payments segments. The Acceptance segment provides point-of-sale merchant acquiring and digital commerce services; mobile payment services; security and fraud protection products; Carat, an omnichannel commerce solution; Clover, a cloud-based point-of-sale and business management platform; and Clover Connect, an independent software vendors platform.
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