Torray LLC Reduces Position in Fiserv, Inc. (FISV)
Torray LLC lowered its position in shares of Fiserv, Inc. (NASDAQ:FISV) by 8.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 180,530 shares of the business services provider’s stock after selling 16,305 shares during the period. Fiserv accounts for about 2.3% of Torray LLC’s investment portfolio, making the stock its 8th largest position. Torray LLC owned approximately 0.09% of Fiserv worth $22,086,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in FISV. First Manhattan Co. raised its stake in shares of Fiserv by 14.9% in the first quarter. First Manhattan Co. now owns 1,034 shares of the business services provider’s stock worth $102,000 after buying an additional 134 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new stake in Fiserv during the second quarter valued at approximately $104,000. Advisory Services Network LLC acquired a new stake in Fiserv during the first quarter valued at approximately $131,000. Trust Co. of Vermont raised its stake in Fiserv by 53.3% in the second quarter. Trust Co. of Vermont now owns 1,303 shares of the business services provider’s stock valued at $159,000 after buying an additional 453 shares in the last quarter. Finally, Morgan Dempsey Capital Management LLC raised its stake in Fiserv by 2.3% in the first quarter. Morgan Dempsey Capital Management LLC now owns 1,480 shares of the business services provider’s stock valued at $171,000 after buying an additional 33 shares in the last quarter. Institutional investors own 88.03% of the company’s stock.
Fiserv, Inc. (FISV) traded up 0.06% on Monday, hitting $120.43. 235,711 shares of the company traded hands. The stock’s 50-day moving average is $124.23 and its 200 day moving average is $119.56. Fiserv, Inc. has a 12 month low of $92.81 and a 12 month high of $129.35. The firm has a market capitalization of $25.35 billion, a P/E ratio of 29.48 and a beta of 0.81.
Fiserv (NASDAQ:FISV) last posted its quarterly earnings data on Tuesday, August 1st. The business services provider reported $1.19 EPS for the quarter, missing the Zacks’ consensus estimate of $1.23 by $0.04. Fiserv had a net margin of 16.04% and a return on equity of 41.79%. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the company earned $1.08 EPS. The company’s revenue was up 1.7% compared to the same quarter last year. Equities analysts forecast that Fiserv, Inc. will post $5.10 EPS for the current fiscal year.
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Several research firms have recently commented on FISV. Royal Bank Of Canada restated a “sector perform” rating and issued a $128.00 price target (up previously from $123.00) on shares of Fiserv in a report on Tuesday, August 8th. Cowen and Company restated a “hold” rating and issued a $115.00 price target on shares of Fiserv in a report on Thursday, August 3rd. Barclays PLC restated an “equal weight” rating and issued a $123.00 price target (up previously from $115.00) on shares of Fiserv in a report on Wednesday, August 2nd. BMO Capital Markets boosted their price target on shares of Fiserv from $112.00 to $133.00 and gave the company a “market perform” rating in a report on Tuesday, August 1st. Finally, Credit Suisse Group boosted their price target on shares of Fiserv from $123.00 to $126.00 and gave the company a “neutral” rating in a report on Wednesday, August 2nd. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $126.91.
In other news, insider Jeffery W. Yabuki sold 17,000 shares of the company’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $126.02, for a total transaction of $2,142,340.00. Following the completion of the transaction, the insider now owns 286,151 shares of the company’s stock, valued at approximately $36,060,749.02. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.
Fiserv, Inc is a provider of financial services technology. The Company provides account processing systems; electronic payments processing products and services, such as electronic bill payments, transaction processing, account-to-account transfers, and person-to-person payments; Internet and mobile banking systems, and related services, including document and payment card production and distribution, and lending and risk management products and services.
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