Rafferty Asset Management LLC trimmed its holdings in Fiserv Inc (NASDAQ:FISV) by 7.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 119,828 shares of the business services provider’s stock after selling 9,867 shares during the quarter. Rafferty Asset Management LLC’s holdings in Fiserv were worth $9,871,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Sonora Investment Management LLC acquired a new position in Fiserv in the 2nd quarter valued at $106,000. Fort L.P. acquired a new position in Fiserv in the 2nd quarter valued at $120,000. Braun Bostich & Associates Inc. increased its stake in Fiserv by 515.8% in the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,712 shares of the business services provider’s stock valued at $127,000 after buying an additional 1,434 shares during the period. Twin Tree Management LP acquired a new position in Fiserv in the 2nd quarter valued at $135,000. Finally, TRUE Private Wealth Advisors acquired a new position in Fiserv in the 3rd quarter valued at $143,000. 88.76% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have issued reports on FISV. Robert W. Baird boosted their price objective on shares of Fiserv from $82.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, September 24th. BidaskClub raised shares of Fiserv from a “hold” rating to a “buy” rating in a research note on Thursday, September 13th. Argus set a $90.00 price objective on shares of Fiserv and gave the company a “buy” rating in a research note on Wednesday, September 19th. JPMorgan Chase & Co. cut shares of Fiserv from a “neutral” rating to an “underweight” rating and set a $95.00 price objective on the stock. in a research note on Tuesday, August 14th. Finally, Zacks Investment Research raised shares of Fiserv from a “sell” rating to a “hold” rating in a research note on Tuesday, October 23rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Fiserv has a consensus rating of “Hold” and a consensus target price of $80.57.
Shares of NASDAQ FISV opened at $76.16 on Friday. The firm has a market cap of $30.62 billion, a price-to-earnings ratio of 29.75, a P/E/G ratio of 2.13 and a beta of 0.79. Fiserv Inc has a one year low of $62.76 and a one year high of $82.79. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.01 and a current ratio of 1.01.
Fiserv (NASDAQ:FISV) last issued its earnings results on Wednesday, October 31st. The business services provider reported $0.75 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.02). The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Fiserv had a return on equity of 44.31% and a net margin of 25.00%. Fiserv’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.27 earnings per share. Analysts forecast that Fiserv Inc will post 3.13 EPS for the current year.
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; 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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