Pinnacle Financial Partners Inc. Has $292,000 Stock Holdings in Fiserv Inc (NASDAQ:FISV)
Pinnacle Financial Partners Inc. lifted its holdings in Fiserv Inc (NASDAQ:FISV) by 6.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,198 shares of the business services provider’s stock after buying an additional 186 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Fiserv were worth $292,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. increased its holdings in shares of Fiserv by 0.8% in the first quarter. BlackRock Inc. now owns 31,604,338 shares of the business services provider’s stock valued at $2,790,031,000 after purchasing an additional 258,945 shares in the last quarter. JPMorgan Chase & Co. increased its position in Fiserv by 11.2% in the second quarter. JPMorgan Chase & Co. now owns 7,508,566 shares of the business services provider’s stock worth $682,004,000 after purchasing an additional 758,149 shares during the period. FMR LLC raised its holdings in Fiserv by 8.6% during the 1st quarter. FMR LLC now owns 6,516,935 shares of the business services provider’s stock worth $575,315,000 after purchasing an additional 513,992 shares during the last quarter. Egerton Capital UK LLP bought a new stake in Fiserv during the 1st quarter worth about $568,121,000. Finally, Geode Capital Management LLC raised its holdings in Fiserv by 8.2% during the 4th quarter. Geode Capital Management LLC now owns 6,221,364 shares of the business services provider’s stock worth $456,535,000 after purchasing an additional 469,507 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.
In other news, insider Guy Chiarello sold 46,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $107.70, for a total transaction of $4,954,200.00. Following the sale, the insider now owns 372,447 shares of the company’s stock, valued at $40,112,541.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Christopher M. Foskett sold 5,000 shares of Fiserv stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $106.36, for a total value of $531,800.00. Following the transaction, the executive vice president now owns 140,248 shares in the company, valued at approximately $14,916,777.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 136,000 shares of company stock valued at $13,905,850. Insiders own 1.40% of the company’s stock.
Fiserv (NASDAQ:FISV) last issued its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.02. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. Fiserv had a return on equity of 53.08% and a net margin of 16.08%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 EPS. On average, analysts expect that Fiserv Inc will post 3.76 earnings per share for the current year.
FISV has been the topic of several recent research reports. Northcoast Research raised shares of Fiserv from a “neutral” rating to a “buy” rating and set a $90.86 target price on the stock in a research note on Wednesday, June 26th. ValuEngine downgraded shares of Fiserv from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. Atlantic Securities assumed coverage on shares of Fiserv in a report on Tuesday, September 3rd. They issued a “neutral” rating and a $131.00 price objective on the stock. BidaskClub cut shares of Fiserv from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Oppenheimer lifted their target price on shares of Fiserv from $97.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $99.38.
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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