Veriti Management LLC cut its stake in Fiserv, Inc. (NASDAQ:FISV – Get Rating) by 5.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,126 shares of the business services provider's stock after selling 805 shares during the quarter. Veriti Management LLC's holdings in Fiserv were worth $1,168,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Fiserv by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 47,887,053 shares of the business services provider's stock valued at $4,855,747,000 after acquiring an additional 346,470 shares during the last quarter. BlackRock Inc. grew its position in shares of Fiserv by 2.1% in the 1st quarter. BlackRock Inc. now owns 41,143,679 shares of the business services provider's stock valued at $4,171,970,000 after purchasing an additional 834,377 shares during the period. Dodge & Cox grew its position in shares of Fiserv by 38.8% in the 4th quarter. Dodge & Cox now owns 35,432,277 shares of the business services provider's stock valued at $3,677,516,000 after purchasing an additional 9,901,409 shares during the period. Harris Associates L P grew its position in shares of Fiserv by 3.0% in the 1st quarter. Harris Associates L P now owns 24,085,796 shares of the business services provider's stock valued at $2,442,300,000 after purchasing an additional 704,434 shares during the period. Finally, Parnassus Investments LLC grew its position in shares of Fiserv by 1.2% in the 1st quarter. Parnassus Investments LLC now owns 14,966,439 shares of the business services provider's stock valued at $1,517,597,000 after purchasing an additional 182,451 shares during the period. 94.01% of the stock is owned by institutional investors.
Get Fiserv alerts:Analysts Set New Price Targets
Several equities analysts recently issued reports on FISV shares. Truist Financial decreased their price objective on Fiserv from $105.00 to $95.00 and set a "hold" rating for the company in a research report on Thursday, June 30th. Wells Fargo & Company upped their price target on Fiserv from $100.00 to $107.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 8th. Keefe, Bruyette & Woods dropped their price target on Fiserv from $135.00 to $115.00 in a research note on Monday, July 11th. Mizuho increased their price objective on Fiserv from $140.00 to $145.00 and gave the stock a "buy" rating in a research report on Monday, August 1st. Finally, Morgan Stanley raised their price target on Fiserv from $98.00 to $106.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 27th. Ten equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $124.54.
Insider Buying and Selling
In other Fiserv news, COO Guy Chiarello sold 4,000 shares of the firm's stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $105.00, for a total transaction of $420,000.00. Following the completion of the sale, the chief operating officer now owns 212,864 shares of the company's stock, valued at $22,350,720. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, COO Guy Chiarello sold 4,000 shares of Fiserv stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $105.00, for a total value of $420,000.00. Following the completion of the sale, the chief operating officer now directly owns 212,864 shares of the company's stock, valued at $22,350,720. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Harry Disimone sold 2,706 shares of Fiserv stock in a transaction on Monday, September 12th. The shares were sold at an average price of $108.72, for a total value of $294,196.32. Following the completion of the sale, the director now directly owns 12,947 shares of the company's stock, valued at $1,407,597.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,706 shares of company stock worth $5,366,896. 1.00% of the stock is owned by corporate insiders.Fiserv Stock Performance
NASDAQ FISV opened at $97.95 on Monday. The company has a market cap of $62.65 billion, a PE ratio of 31.80, a price-to-earnings-growth ratio of 1.12 and a beta of 0.88. The stock's 50 day simple moving average is $104.36 and its 200-day simple moving average is $99.52. Fiserv, Inc. has a 1-year low of $87.03 and a 1-year high of $111.84. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 1.05.
Fiserv (NASDAQ:FISV – Get Rating) last announced its quarterly earnings data on Tuesday, July 26th. The business services provider reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.55 by $0.01. Fiserv had a return on equity of 12.40% and a net margin of 11.92%. The firm had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter last year, the business posted $1.37 earnings per share. The firm's revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Fiserv, Inc. will post 6.49 EPS for the current fiscal year.
Fiserv Company Profile
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Fiserv, Inc, together with its subsidiaries, provides payment and financial services technology worldwide. The company operates through Acceptance, Fintech, and Payments segments. The Acceptance segment provides point-of-sale merchant acquiring and digital commerce services; mobile payment services; security and fraud protection products; Carat, an omnichannel commerce solution; Clover, a cloud-based point-of-sale and business management platform; and Clover Connect, an independent software vendors platform.
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