OLD National Bancorp IN Reduces Holdings in Fiserv Inc (NASDAQ:FISV)

OLD National Bancorp IN trimmed its stake in Fiserv Inc (NASDAQ:FISV) by 14.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,588 shares of the business services provider’s stock after selling 605 shares during the period. OLD National Bancorp IN’s holdings in Fiserv were worth $327,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CHICAGO TRUST Co NA grew its position in shares of Fiserv by 6.7% in the 1st quarter. CHICAGO TRUST Co NA now owns 9,600 shares of the business services provider’s stock valued at $848,000 after buying an additional 600 shares during the last quarter. CIBC World Markets Inc. grew its position in shares of Fiserv by 53.5% in the 1st quarter. CIBC World Markets Inc. now owns 33,199 shares of the business services provider’s stock valued at $2,931,000 after buying an additional 11,569 shares during the last quarter. Chase Investment Counsel Corp grew its position in shares of Fiserv by 1.3% in the 1st quarter. Chase Investment Counsel Corp now owns 45,934 shares of the business services provider’s stock valued at $4,055,000 after buying an additional 580 shares during the last quarter. Deutsche Bank AG grew its position in shares of Fiserv by 14.0% in the 4th quarter. Deutsche Bank AG now owns 1,135,709 shares of the business services provider’s stock valued at $83,458,000 after buying an additional 139,822 shares during the last quarter. Finally, New York State Common Retirement Fund grew its position in shares of Fiserv by 10.1% in the 1st quarter. New York State Common Retirement Fund now owns 1,153,481 shares of the business services provider’s stock valued at $101,829,000 after buying an additional 105,736 shares during the last quarter. 87.39% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on FISV. Oppenheimer increased their price target on shares of Fiserv from $97.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 12th. Keefe, Bruyette & Woods began coverage on shares of Fiserv in a research note on Monday, April 8th. They set a “market perform” rating and a $101.00 price target for the company. Deutsche Bank upgraded shares of Fiserv from a “hold” rating to a “buy” rating and increased their price target for the stock from $100.00 to $120.00 in a research note on Tuesday. Moffett Nathanson began coverage on shares of Fiserv in a research note on Tuesday, May 21st. They set a “buy” rating and a $108.00 price target for the company. Finally, Royal Bank of Canada set a $106.00 price target on shares of Fiserv and gave the stock a “buy” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nineteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $96.27.

In other news, 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 sale, the insider now directly owns 371,429 shares in the company, valued at $33,038,609.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Jeffery W. Yabuki sold 20,000 shares of Fiserv stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $103.20, for a total transaction of $2,064,000.00. Following the sale, the chairman now owns 330,629 shares of the company’s stock, valued at $34,120,912.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,000 shares of company stock valued at $7,621,300. Insiders own 1.40% of the company’s stock.

NASDAQ:FISV traded up $0.47 during mid-day trading on Thursday, hitting $105.90. 1,789,605 shares of the company’s stock traded hands, compared to its average volume of 6,226,083. The company has a current ratio of 4.97, a quick ratio of 1.07 and a debt-to-equity ratio of 5.40. The business has a 50 day simple moving average of $93.96. Fiserv Inc has a 1 year low of $68.45 and a 1 year high of $106.88. The stock has a market capitalization of $41.12 billion, a P/E ratio of 34.16, a PEG ratio of 2.51 and a beta of 0.78.

Fiserv (NASDAQ:FISV) last posted its earnings results on Thursday, July 25th. The business services provider reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.02. Fiserv had a net margin of 16.08% and a return on equity of 53.08%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the firm posted $0.75 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Research analysts anticipate that Fiserv Inc will post 3.47 earnings per share for the current year.

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.

Featured Article: What does a bar chart display?

Institutional Ownership by Quarter for Fiserv (NASDAQ:FISV)

Receive News & Ratings for Fiserv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fiserv and related companies with MarketBeat.com's FREE daily email newsletter.