American Century Companies Inc. Reduces Position in Fiserv, Inc. (FISV)
American Century Companies Inc. cut its position in shares of Fiserv, Inc. (NASDAQ:FISV) by 29.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 999,787 shares of the business services provider’s stock after selling 409,553 shares during the period. American Century Companies Inc. owned 0.46% of Fiserv worth $122,314,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Gardiner Nancy B raised its position in shares of Fiserv by 6.5% in the first quarter. Gardiner Nancy B now owns 12,537 shares of the business services provider’s stock worth $1,445,000 after buying an additional 762 shares during the period. Old Mutual Global Investors UK Ltd. raised its position in shares of Fiserv by 155.5% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 381,807 shares of the business services provider’s stock worth $44,026,000 after buying an additional 232,364 shares during the period. British Columbia Investment Management Corp raised its position in shares of Fiserv by 6.3% in the first quarter. British Columbia Investment Management Corp now owns 84,563 shares of the business services provider’s stock worth $9,751,000 after buying an additional 5,016 shares during the period. Bronfman E.L. Rothschild L.P. raised its position in shares of Fiserv by 25.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 16,179 shares of the business services provider’s stock worth $1,866,000 after buying an additional 3,304 shares during the period. Finally, Atria Investments LLC acquired a new position in shares of Fiserv during the second quarter worth about $201,000. Institutional investors and hedge funds own 88.03% of the company’s stock.
Shares of Fiserv, Inc. (FISV) opened at 122.32 on Friday. The firm has a market cap of $25.74 billion, a P/E ratio of 29.94 and a beta of 0.81. The stock’s 50 day moving average is $124.15 and its 200 day moving average is $120.11. Fiserv, Inc. has a 12 month low of $92.81 and a 12 month high of $129.35.
Fiserv (NASDAQ:FISV) last issued its quarterly earnings results on Tuesday, August 1st. The business services provider reported $1.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.23 by $0.04. Fiserv had a return on equity of 41.79% and a net margin of 16.04%. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the business posted $1.08 earnings per share. Fiserv’s revenue was up 1.7% on a year-over-year basis. Equities research analysts expect that Fiserv, Inc. will post $5.10 EPS for the current year.
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FISV has been the subject of a number of recent analyst reports. Guggenheim raised shares of Fiserv from a “neutral” rating to a “buy” rating and increased their target price for the company from $131.00 to $136.00 in a research report on Monday, July 17th. BidaskClub downgraded shares of Fiserv from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Cowen and Company reissued a “hold” rating and set a $115.00 target price on shares of Fiserv in a research report on Thursday, August 3rd. Credit Suisse Group increased their target price on shares of Fiserv from $123.00 to $126.00 and gave the company a “neutral” rating in a research report on Wednesday, August 2nd. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $118.00 target price on shares of Fiserv in a research report on Tuesday, June 20th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $126.91.
In related news, insider Jeffery W. Yabuki sold 17,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $126.02, for a total transaction of $2,142,340.00. Following the completion of the sale, the insider now directly owns 286,151 shares of the company’s stock, valued at approximately $36,060,749.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 51,000 shares of company stock valued at $6,342,700 over the last three months. 1.80% of the stock is owned by corporate insiders.
Fiserv Company Profile
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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