Summit Global Investments grew its holdings in Fiserv, Inc. (NASDAQ:FISV) by 3.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,685 shares of the business services provider’s stock after buying an additional 1,495 shares during the quarter. Fiserv accounts for 1.7% of Summit Global Investments’ investment portfolio, making the stock its 17th largest position. Summit Global Investments’ holdings in Fiserv were worth $5,589,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. increased its position in shares of Fiserv by 94.9% during the first quarter. Russell Investments Group Ltd. now owns 84,167 shares of the business services provider’s stock worth $9,706,000 after purchasing an additional 40,981 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Fiserv by 37,915.4% during the first quarter. Canada Pension Plan Investment Board now owns 9,884 shares of the business services provider’s stock worth $1,140,000 after purchasing an additional 9,858 shares in the last quarter. Empire Life Investments Inc. purchased a new stake in shares of Fiserv during the first quarter worth approximately $13,650,000. Elkhorn Investments LLC purchased a new stake in shares of Fiserv during the first quarter worth approximately $1,253,000. Finally, First Trust Advisors LP increased its position in shares of Fiserv by 204.2% during the first quarter. First Trust Advisors LP now owns 178,209 shares of the business services provider’s stock worth $20,549,000 after purchasing an additional 119,618 shares in the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.
FISV has been the subject of several research reports. Royal Bank Of Canada reiterated a “sector perform” rating and set a $128.00 price target (up from $123.00) on shares of Fiserv in a research report on Tuesday, August 8th. Credit Suisse Group boosted their price target on Fiserv from $123.00 to $126.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 2nd. Guggenheim upgraded Fiserv from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $131.00 to $136.00 in a research report on Monday, July 17th. Robert W. Baird reiterated an “outperform” rating and set a $134.00 price target (up from $128.00) on shares of Fiserv in a research report on Wednesday, June 14th. Finally, BMO Capital Markets boosted their price target on Fiserv from $112.00 to $133.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 1st. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $127.05.
Fiserv, Inc. (NASDAQ:FISV) traded up 0.77% during trading on Monday, reaching $123.61. The company’s stock had a trading volume of 124,836 shares. The company has a 50 day moving average price of $123.77 and a 200-day moving average price of $121.07. Fiserv, Inc. has a 52 week low of $92.81 and a 52 week high of $129.35. The company has a market capitalization of $26.02 billion, a PE ratio of 30.26 and a beta of 0.82.
Fiserv (NASDAQ:FISV) last posted its quarterly earnings data on Tuesday, August 1st. The business services provider reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by $0.04. Fiserv had a return on equity of 41.79% and a net margin of 16.04%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the business earned $1.08 EPS. Fiserv’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities research analysts anticipate that Fiserv, Inc. will post $5.10 earnings per share for the current year.
In other news, insider Jeffery W. Yabuki sold 17,000 shares of the firm’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $126.02, for a total transaction of $2,142,340.00. Following the sale, the insider now owns 286,151 shares in the company, valued at $36,060,749.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 51,000 shares of company stock worth $6,342,700 in the last 90 days. Insiders own 1.80% of the company’s stock.
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Fiserv Company Profile
Fiserv, Inc is a provider of financial services technology. The Company provides account processing systems; electronic payments processing products and services, such as electronic bill payments, transaction processing, account-to-account transfers, and person-to-person payments; Internet and mobile banking systems, and related services, including document and payment card production and distribution, and lending and risk management products and services.
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