Cornerstone Advisors Inc. Buys 1,339 Shares of Fiserv Inc (FISV)

Cornerstone Advisors Inc. raised its stake in shares of Fiserv Inc (NASDAQ:FISV) by 147.8% during the first quarter, HoldingsChannel.com reports. The firm owned 2,245 shares of the business services provider’s stock after buying an additional 1,339 shares during the quarter. Cornerstone Advisors Inc.’s holdings in Fiserv were worth $198,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. raised its position in Fiserv by 2.9% during the fourth quarter. BlackRock Inc. now owns 31,345,393 shares of the business services provider’s stock valued at $2,303,573,000 after purchasing an additional 898,122 shares during the period. Massachusetts Financial Services Co. MA raised its position in Fiserv by 3.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 23,638,292 shares of the business services provider’s stock valued at $1,737,178,000 after purchasing an additional 845,558 shares during the period. Oregon Public Employees Retirement Fund raised its position in Fiserv by 7,194.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,345,408 shares of the business services provider’s stock valued at $141,000 after purchasing an additional 10,203,585 shares during the period. Geode Capital Management LLC raised its position in Fiserv by 8.2% during the fourth quarter. Geode Capital Management LLC now owns 6,221,364 shares of the business services provider’s stock valued at $456,535,000 after purchasing an additional 469,507 shares during the period. Finally, Northern Trust Corp raised its position in Fiserv by 3.0% during the fourth quarter. Northern Trust Corp now owns 5,360,120 shares of the business services provider’s stock valued at $393,915,000 after purchasing an additional 154,269 shares during the period. Institutional investors and hedge funds own 89.31% of the company’s stock.

In related news, insider Jeffery W. Yabuki sold 50,000 shares of the stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $84.85, for a total value of $4,242,500.00. Following the transaction, the insider now owns 441,112 shares of the company’s stock, valued at $37,428,353.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffery W. Yabuki sold 20,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $85.21, for a total value of $1,704,200.00. Following the completion of the transaction, the chief executive officer now directly owns 391,146 shares in the company, valued at approximately $33,329,550.66. The disclosure for this sale can be found here. In the last three months, insiders sold 157,912 shares of company stock worth $13,389,571. 1.40% of the stock is owned by insiders.

A number of brokerages have issued reports on FISV. Zacks Investment Research downgraded Fiserv from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. William Blair restated an “outperform” rating on shares of Fiserv in a research report on Wednesday, May 1st. Deutsche Bank upped their price objective on Fiserv from $71.00 to $94.00 and gave the company a “hold” rating in a research report on Tuesday, April 23rd. BidaskClub downgraded Fiserv from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Finally, Keefe, Bruyette & Woods began coverage on Fiserv in a research report on Monday, April 8th. They set a “market perform” rating and a $101.00 price objective on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $88.57.

FISV opened at $85.54 on Wednesday. The company has a market cap of $34.01 billion, a PE ratio of 27.59, a price-to-earnings-growth ratio of 2.09 and a beta of 0.80. Fiserv Inc has a one year low of $68.45 and a one year high of $91.19. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.45.

Fiserv (NASDAQ:FISV) last released its earnings results on Tuesday, April 30th. The business services provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Fiserv had a return on equity of 50.83% and a net margin of 16.81%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.76 earnings per share. As a group, equities research analysts predict that Fiserv Inc will post 3.45 earnings per share for the current year.

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Fiserv 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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Institutional Ownership by Quarter for Fiserv (NASDAQ:FISV)

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