Redmond Asset Management LLC Cuts Position in Fiserv Inc (NASDAQ:FISV)

Redmond Asset Management LLC lessened its holdings in Fiserv Inc (NASDAQ:FISV) by 4.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,296 shares of the business services provider’s stock after selling 1,585 shares during the period. Fiserv comprises about 1.3% of Redmond Asset Management LLC’s portfolio, making the stock its 18th largest holding. Redmond Asset Management LLC’s holdings in Fiserv were worth $2,944,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. First Hawaiian Bank boosted its holdings in Fiserv by 556.0% in the 2nd quarter. First Hawaiian Bank now owns 3,398 shares of the business services provider’s stock worth $310,000 after buying an additional 2,880 shares during the last quarter. Valeo Financial Advisors LLC boosted its holdings in Fiserv by 9,000.0% in the 2nd quarter. Valeo Financial Advisors LLC now owns 546 shares of the business services provider’s stock worth $50,000 after buying an additional 540 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Fiserv in the 2nd quarter worth about $489,000. CIBC World Markets Inc. boosted its holdings in shares of Fiserv by 53.5% during the 1st quarter. CIBC World Markets Inc. now owns 33,199 shares of the business services provider’s stock worth $2,931,000 after purchasing an additional 11,569 shares during the last quarter. Finally, CWM Advisors LLC increased its position in shares of Fiserv by 1.3% during the second quarter. CWM Advisors LLC now owns 12,901 shares of the business services provider’s stock worth $1,176,000 after acquiring an additional 168 shares during the period. Hedge funds and other institutional investors own 87.39% of the company’s stock.

In other news, Chairman Jeffery W. Yabuki sold 20,000 shares of Fiserv stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $103.20, for a total value of $2,064,000.00. Following the completion of the transaction, the chairman now directly owns 330,629 shares of the company’s stock, valued at approximately $34,120,912.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffery W. Yabuki sold 2,000 shares of Fiserv stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $88.95, for a total transaction of $177,900.00. Following the completion of the transaction, the insider now directly owns 371,429 shares of the company’s stock, valued at $33,038,609.55. The disclosure for this sale can be found here. Insiders sold a total of 62,000 shares of company stock valued at $5,911,500 over the last ninety days. Company insiders own 1.40% of the company’s stock.

Shares of FISV traded up $2.07 during midday trading on Thursday, hitting $104.47. The company had a trading volume of 1,474,940 shares, compared to its average volume of 8,282,905. The firm has a 50 day moving average price of $97.93. The stock has a market cap of $40.95 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 2.31 and a beta of 0.80. Fiserv Inc has a 52 week low of $68.45 and a 52 week high of $107.06. The company has a current ratio of 4.97, a quick ratio of 4.97 and a debt-to-equity ratio of 5.40.

Fiserv (NASDAQ:FISV) last released its earnings results on Thursday, July 25th. The business services provider reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.02. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. Fiserv had a net margin of 16.08% and a return on equity of 53.08%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.75 EPS. On average, research analysts predict that Fiserv Inc will post 3.76 EPS for the current fiscal year.

Several brokerages have recently weighed in on FISV. Northcoast Research upgraded shares of Fiserv from a “neutral” rating to a “buy” rating and set a $90.86 target price for the company in a research note on Wednesday, June 26th. Susquehanna Bancshares started coverage on shares of Fiserv in a report on Friday, May 31st. They set a “neutral” rating and a $95.00 price target for the company. Wells Fargo & Co started coverage on shares of Fiserv in a report on Wednesday, June 19th. They set an “outperform” rating and a $110.00 price target for the company. Royal Bank of Canada set a $106.00 price target on shares of Fiserv and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Moffett Nathanson assumed coverage on shares of Fiserv in a report on Tuesday, May 21st. They issued a “buy” rating and a $108.00 target price for the company. Seven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $97.88.

About Fiserv

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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Institutional Ownership by Quarter for Fiserv (NASDAQ:FISV)

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