Municipal Employees Retirement System of Michigan bought a new position in Fiserv Inc (NASDAQ:FISV) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 10,880 shares of the business services provider’s stock, valued at approximately $800,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. We Are One Seven LLC acquired a new stake in shares of Fiserv during the fourth quarter valued at approximately $27,000. Sontag Advisory LLC acquired a new stake in shares of Fiserv during the fourth quarter valued at approximately $27,000. JOYN Advisors Inc. raised its holdings in shares of Fiserv by 80.0% during the fourth quarter. JOYN Advisors Inc. now owns 405 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 180 shares during the period. Destination Wealth Management acquired a new position in Fiserv in the 4th quarter valued at approximately $30,000. Finally, WESPAC Advisors SoCal LLC acquired a new position in Fiserv in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 88.83% of the company’s stock.
Several analysts have commented on FISV shares. Royal Bank of Canada raised shares of Fiserv from a “sector perform” rating to an “outperform” rating and set a $85.50 target price for the company in a research report on Monday, January 28th. Oppenheimer raised shares of Fiserv from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $74.50 to $88.00 in a research report on Friday, January 18th. Cowen raised shares of Fiserv from a “market perform” rating to an “outperform” rating and set a $80.59 target price for the company in a research report on Thursday, January 24th. Cantor Fitzgerald reissued a “hold” rating and issued a $83.00 target price on shares of Fiserv in a research report on Friday, February 8th. Finally, Zacks Investment Research raised shares of Fiserv from a “sell” rating to a “hold” rating in a report on Wednesday, January 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $87.29.
Fiserv (NASDAQ:FISV) last announced its earnings results on Thursday, February 7th. The business services provider reported $0.84 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.84. Fiserv had a net margin of 20.39% and a return on equity of 47.56%. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter last year, the company posted $0.71 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts anticipate that Fiserv Inc will post 3.45 earnings per share for the current year.
In other news, CEO Jeffery W. Yabuki sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $85.21, for a total value of $1,704,200.00. Following the transaction, the chief executive officer now owns 391,146 shares of the company’s stock, valued at approximately $33,329,550.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kim M. Robak sold 10,904 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $87.01, for a total transaction of $948,757.04. Following the completion of the transaction, the director now directly owns 85,610 shares in the company, valued at approximately $7,448,926.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 157,912 shares of company stock worth $13,389,571. Insiders own 1.70% of the company’s stock.
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Fiserv Company Profile
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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