Legacy Capital Partners Inc. Cuts Position in Fiserv Inc (NASDAQ:FISV)

Legacy Capital Partners Inc. lowered its holdings in shares of Fiserv Inc (NASDAQ:FISV) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,713 shares of the business services provider’s stock after selling 2,480 shares during the period. Fiserv makes up 3.2% of Legacy Capital Partners Inc.’s investment portfolio, making the stock its 2nd largest holding. Legacy Capital Partners Inc.’s holdings in Fiserv were worth $7,222,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of FISV. ETF Managers Group LLC raised its holdings in Fiserv by 44.3% in the second quarter. ETF Managers Group LLC now owns 345,087 shares of the business services provider’s stock worth $31,344,000 after buying an additional 105,957 shares during the last quarter. Close Asset Management Ltd raised its holdings in Fiserv by 3.6% in the second quarter. Close Asset Management Ltd now owns 1,107,701 shares of the business services provider’s stock worth $100,972,000 after buying an additional 38,799 shares during the last quarter. First Hawaiian Bank raised its holdings in Fiserv by 556.0% in the second quarter. First Hawaiian Bank now owns 3,398 shares of the business services provider’s stock worth $310,000 after buying an additional 2,880 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in Fiserv by 3.6% in the second quarter. Commonwealth Equity Services LLC now owns 44,087 shares of the business services provider’s stock worth $4,018,000 after buying an additional 1,539 shares during the last quarter. Finally, Hartford Investment Management Co. raised its holdings in Fiserv by 0.7% in the second quarter. Hartford Investment Management Co. now owns 43,219 shares of the business services provider’s stock worth $3,940,000 after buying an additional 302 shares during the last quarter.

In other Fiserv news, Chairman Jeffery W. Yabuki sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $103.20, for a total transaction of $2,064,000.00. Following the completion of the sale, the chairman now directly owns 330,629 shares of the company’s stock, valued at $34,120,912.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Guy Chiarello sold 46,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $107.70, for a total transaction of $4,954,200.00. Following the sale, the insider now directly owns 372,447 shares of the company’s stock, valued at $40,112,541.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 146,000 shares of company stock valued at $15,486,250. 1.40% of the stock is owned by corporate insiders.

Several research analysts have issued reports on FISV shares. Berenberg Bank started coverage on shares of Fiserv in a report on Wednesday, July 31st. They issued a “buy” rating and a $121.00 target price for the company. Canaccord Genuity started coverage on shares of Fiserv in a report on Thursday, September 12th. They issued a “buy” rating and a $130.00 target price for the company. Deutsche Bank raised shares of Fiserv from a “hold” rating to a “buy” rating and lifted their target price for the stock from $100.00 to $120.00 in a report on Tuesday, July 30th. ValuEngine cut shares of Fiserv from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Finally, BidaskClub raised shares of Fiserv from a “hold” rating to a “buy” rating in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. Fiserv has a consensus rating of “Buy” and a consensus target price of $106.07.

FISV stock traded down $3.91 during midday trading on Tuesday, reaching $100.53. 1,811,946 shares of the company’s stock traded hands, compared to its average volume of 3,052,787. Fiserv Inc has a 52-week low of $68.45 and a 52-week high of $109.92. The stock has a market cap of $41.53 billion, a P/E ratio of 32.43, a PEG ratio of 2.26 and a beta of 0.79. 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’s 50-day moving average is $104.87 and its 200 day moving average is $96.00.

Fiserv (NASDAQ:FISV) last announced its earnings results on Thursday, July 25th. The business services provider reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. Fiserv had a net margin of 16.08% and a return on equity of 53.08%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the company earned $0.75 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. As a group, research analysts expect that Fiserv Inc will post 3.9 EPS for the current fiscal year.

Fiserv 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.

See Also: How does equity income fit into an investing strategy?

Want to see what other hedge funds are holding FISV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fiserv Inc (NASDAQ:FISV).

Institutional Ownership by Quarter for Fiserv (NASDAQ:FISV)

Receive News & Ratings for Fiserv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fiserv and related companies with MarketBeat.com's FREE daily email newsletter.