Sawgrass Asset Management LLC lowered its holdings in shares of Fiserv Inc (NASDAQ:FISV) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 457,231 shares of the business services provider’s stock after selling 7,257 shares during the period. Fiserv makes up about 1.8% of Sawgrass Asset Management LLC’s holdings, making the stock its 22nd biggest position. Sawgrass Asset Management LLC owned 0.12% of Fiserv worth $41,681,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bremer Bank National Association bought a new position in Fiserv in the first quarter worth approximately $25,000. Parkside Financial Bank & Trust lifted its holdings in shares of Fiserv by 74.4% in the first quarter. Parkside Financial Bank & Trust now owns 464 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 198 shares in the last quarter. Glassman Wealth Services lifted its holdings in shares of Fiserv by 76.9% in the first quarter. Glassman Wealth Services now owns 467 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 203 shares in the last quarter. Brand Asset Management Group Inc. bought a new position in shares of Fiserv in the first quarter valued at approximately $50,000. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of Fiserv by 9,000.0% in the second quarter. Valeo Financial Advisors LLC now owns 546 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 540 shares in the last quarter. 87.39% of the stock is owned by institutional investors and hedge funds.
Fiserv stock traded down $0.57 during mid-day trading on Friday, reaching $104.09. 2,097,488 shares of the company’s stock were exchanged, compared to its average volume of 6,656,642. The business has a fifty day simple moving average of $94.27. The company has a market capitalization of $40.83 billion, a price-to-earnings ratio of 33.58, a PEG ratio of 2.49 and a beta of 0.78. Fiserv Inc has a one year low of $68.45 and a one year high of $107.06. The company has a debt-to-equity ratio of 5.40, a current ratio of 4.97 and a quick ratio of 1.07.
In other Fiserv news, insider Jeffery W. Yabuki sold 2,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $88.95, for a total value of $177,900.00. Following the completion of the sale, the insider now directly owns 371,429 shares of the company’s stock, valued at $33,038,609.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Jeffery W. Yabuki sold 20,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $103.20, for a total value of $2,064,000.00. Following the completion of the sale, the chairman now directly owns 330,629 shares of the company’s stock, valued at $34,120,912.80. The disclosure for this sale can be found here. Insiders have sold 82,000 shares of company stock worth $7,621,300 over the last quarter. 1.40% of the stock is currently owned by corporate insiders.
A number of research analysts have recently weighed in on the company. Susquehanna Bancshares assumed coverage on Fiserv in a report on Friday, May 31st. They issued a “neutral” rating and a $95.00 target price on the stock. William Blair restated an “outperform” rating on shares of Fiserv in a report on Wednesday, May 1st. Zacks Investment Research lowered Fiserv from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Deutsche Bank upgraded Fiserv from a “hold” rating to a “buy” rating and raised their target price for the company from $100.00 to $120.00 in a report on Tuesday. Finally, SunTrust Banks upgraded Fiserv from a “hold” rating to a “buy” rating and raised their target price for the company from $91.00 to $100.00 in a report on Wednesday, June 5th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nineteen have assigned a buy rating to the stock. Fiserv presently has a consensus rating of “Buy” and a consensus price target of $96.27.
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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