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

Redmond Asset Management LLC cut its stake in shares of Fiserv Inc (NASDAQ:FISV) by 4.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,296 shares of the business services provider’s stock after selling 1,585 shares during the period. Fiserv accounts for about 1.3% of Redmond Asset Management LLC’s portfolio, making the stock its 18th biggest position. Redmond Asset Management LLC’s holdings in Fiserv were worth $2,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of FISV. Bremer Bank National Association purchased a new stake in shares of Fiserv in the first quarter worth approximately $25,000. Advantage Investment Management LLC raised its holdings in shares of Fiserv by 126.4% in the second quarter. Advantage Investment Management LLC now owns 335 shares of the business services provider’s stock worth $31,000 after buying an additional 187 shares during the period. Wealthcare Advisory Partners LLC raised its holdings in shares of Fiserv by 523.3% in the second quarter. Wealthcare Advisory Partners LLC now owns 374 shares of the business services provider’s stock worth $34,000 after buying an additional 314 shares during the period. Parkside Financial Bank & Trust raised 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 worth $41,000 after buying an additional 198 shares during the period. Finally, Glassman Wealth Services raised 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 worth $41,000 after buying an additional 203 shares during the period. Institutional investors and hedge funds own 87.39% of the company’s stock.

NASDAQ FISV traded up $2.07 during midday trading on Thursday, hitting $104.47. 1,474,940 shares of the company traded hands, compared to its average volume of 8,282,905. The company has a current ratio of 4.97, a quick ratio of 4.97 and a debt-to-equity ratio of 5.40. The stock has a market capitalization of $40.95 billion, a P/E ratio of 33.70, a PEG ratio of 2.31 and a beta of 0.80. The firm has a 50-day simple moving average of $97.93. Fiserv Inc has a 52 week low of $68.45 and a 52 week high of $107.06.

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

Several brokerages have recently weighed in on FISV. Susquehanna Bancshares began coverage on Fiserv in a report on Friday, May 31st. They issued a “neutral” rating and a $95.00 price target on the stock. Berenberg Bank began coverage on Fiserv in a report on Wednesday, July 31st. They issued a “buy” rating and a $121.00 price target on the stock. SunTrust Banks upgraded Fiserv from a “hold” rating to a “buy” rating and increased their price target for the stock from $91.00 to $100.00 in a report on Wednesday, June 5th. They noted that the move was a valuation call. Deutsche Bank upgraded 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 report on Tuesday, July 30th. Finally, Northcoast Research upgraded Fiserv from a “neutral” rating to a “buy” rating and set a $90.86 price target on the stock in a report on Wednesday, June 26th. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $97.88.

In other 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 owns 371,429 shares of the company’s stock, valued at approximately $33,038,609.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffery W. Yabuki sold 20,000 shares of the firm’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $89.23, for a total value of $1,784,600.00. Following the completion of the sale, the insider now directly owns 354,929 shares of the company’s stock, valued at approximately $31,670,314.67. The disclosure for this sale can be found here. Insiders have sold a total of 62,000 shares of company stock worth $5,911,500 in the last ninety days. Insiders own 1.40% of the company’s stock.

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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Institutional Ownership by Quarter for Fiserv (NASDAQ:FISV)

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