DNB Asset Management AS Sells 2,394 Shares of Fiserv Inc (NASDAQ:FISV)

DNB Asset Management AS trimmed its holdings in shares of Fiserv Inc (NASDAQ:FISV) by 3.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 64,437 shares of the business services provider’s stock after selling 2,394 shares during the period. DNB Asset Management AS’s holdings in Fiserv were worth $5,874,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of FISV. Bremer Bank National Association purchased a new position in shares of Fiserv during the first quarter worth about $25,000. Parkside Financial Bank & Trust lifted its position in Fiserv by 74.4% in the 1st quarter. Parkside Financial Bank & Trust now owns 464 shares of the business services provider’s stock worth $41,000 after buying an additional 198 shares during the last quarter. Glassman Wealth Services lifted its position in Fiserv by 76.9% in the 1st quarter. Glassman Wealth Services now owns 467 shares of the business services provider’s stock worth $41,000 after buying an additional 203 shares during the last quarter. Brand Asset Management Group Inc. bought a new stake in Fiserv in the 1st quarter worth approximately $50,000. Finally, Quadrant Capital Group LLC lifted its position in Fiserv by 52.5% in the 1st quarter. Quadrant Capital Group LLC now owns 683 shares of the business services provider’s stock worth $52,000 after buying an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 87.39% of the company’s stock.

NASDAQ FISV traded up $1.77 during trading on Friday, hitting $107.26. 5,878,725 shares of the stock traded hands, compared to its average volume of 4,972,592. The company has a market capitalization of $41.71 billion, a P/E ratio of 34.60, a price-to-earnings-growth ratio of 2.34 and a beta of 0.80. The company has a quick ratio of 4.97, a current ratio of 4.97 and a debt-to-equity ratio of 5.40. The firm has a 50-day simple moving average of $98.20 and a 200-day simple moving average of $89.55. Fiserv Inc has a 12-month low of $68.45 and a 12-month high of $107.48.

Fiserv (NASDAQ:FISV) last issued its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.02. Fiserv had a return on equity of 53.08% and a net margin of 16.08%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the company earned $0.75 EPS. Fiserv’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, research analysts predict that Fiserv Inc will post 3.76 EPS for the current fiscal year.

A number of analysts recently weighed in on the company. Susquehanna Bancshares initiated coverage on Fiserv in a research report on Friday, May 31st. They issued a “neutral” rating and a $95.00 target price for the company. William Blair reiterated an “outperform” rating on shares of Fiserv in a research report on Wednesday, May 1st. Wedbush boosted their price objective on Fiserv from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Wells Fargo & Co assumed coverage on Fiserv in a report on Wednesday, June 19th. They set an “outperform” rating and a $110.00 target price for the company. Finally, Royal Bank of Canada set a $106.00 target price on Fiserv and gave the company a “buy” rating in a report on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Fiserv currently has an average rating of “Buy” and a consensus target price of $97.88.

In related news, Chairman Jeffery W. Yabuki sold 20,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $103.20, for a total value of $2,064,000.00. Following the completion of the transaction, the chairman now owns 330,629 shares of the company’s stock, valued at approximately $34,120,912.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffery W. Yabuki sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $88.95, for a total value of $177,900.00. Following the transaction, the insider now directly owns 371,429 shares of the company’s stock, valued at approximately $33,038,609.55. The disclosure for this sale can be found here. In the last three months, insiders sold 62,000 shares of company stock valued at $5,911,500. Insiders own 1.40% of the company’s stock.

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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Institutional Ownership by Quarter for Fiserv (NASDAQ:FISV)

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