Tower Research Capital LLC TRC Increases Holdings in Fiserv Inc (FISV)
Tower Research Capital LLC TRC boosted its holdings in Fiserv Inc (NASDAQ:FISV) by 1,143.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,179 shares of the business services provider’s stock after buying an additional 5,682 shares during the period. Tower Research Capital LLC TRC’s holdings in Fiserv were worth $811,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new position in Fiserv in the third quarter worth $28,337,000. Wendell David Associates Inc. increased its stake in Fiserv by 3.0% in the 3rd quarter. Wendell David Associates Inc. now owns 95,980 shares of the business services provider’s stock worth $12,378,000 after purchasing an additional 2,840 shares in the last quarter. Barometer Capital Management Inc. increased its stake in Fiserv by 17.3% in the 3rd quarter. Barometer Capital Management Inc. now owns 35,805 shares of the business services provider’s stock worth $4,617,000 after purchasing an additional 5,275 shares in the last quarter. APG Asset Management N.V. increased its stake in Fiserv by 10.6% in the 3rd quarter. APG Asset Management N.V. now owns 161,253 shares of the business services provider’s stock worth $20,795,000 after purchasing an additional 15,500 shares in the last quarter. Finally, Gilman Hill Asset Management LLC increased its stake in Fiserv by 13.3% in the 3rd quarter. Gilman Hill Asset Management LLC now owns 6,555 shares of the business services provider’s stock worth $845,000 after purchasing an additional 770 shares in the last quarter. Hedge funds and other institutional investors own 88.51% of the company’s stock.
Several research firms have weighed in on FISV. Zacks Investment Research raised Fiserv from a “hold” rating to a “buy” rating and set a $154.00 target price on the stock in a research note on Tuesday, February 13th. Cantor Fitzgerald reissued a “hold” rating and issued a $126.00 price target on shares of Fiserv in a research note on Wednesday, February 7th. Citigroup boosted their target price on Fiserv from $138.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. BidaskClub lowered Fiserv from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 13th. Finally, Cowen reiterated a “hold” rating and set a $135.00 price target on shares of Fiserv in a report on Thursday, February 8th. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Fiserv has a consensus rating of “Hold” and a consensus target price of $140.73.
Shares of Fiserv are scheduled to split before the market opens on Tuesday, March 20th. The 2-1 split was announced on Thursday, February 22nd. The newly issued shares will be distributed to shareholders after the closing bell on Monday, March 19th.
Fiserv (NASDAQ:FISV) last issued its earnings results on Wednesday, February 7th. The business services provider reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.03. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.51 billion. Fiserv had a return on equity of 44.58% and a net margin of 21.88%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 EPS. research analysts anticipate that Fiserv Inc will post 6.23 EPS for the current year.
In other news, Director Harry Disimone acquired 353 shares of Fiserv stock in a transaction that occurred on Wednesday, February 21st. The shares were acquired at an average price of $141.59 per share, for a total transaction of $49,981.27. Following the transaction, the director now directly owns 154 shares of the company’s stock, valued at approximately $21,804.86. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Denis Oleary sold 12,160 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $142.64, for a total value of $1,734,502.40. The disclosure for this sale can be found here. Insiders sold a total of 76,599 shares of company stock valued at $10,489,845 over the last ninety days. Insiders own 1.80% of the company’s stock.
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Fiserv, Inc is a provider of financial services technology. The Company provides account processing systems; electronic payments processing products and services, such as electronic bill payments, transaction processing, account-to-account transfers, and person-to-person payments; Internet and mobile banking systems, and related services, including document and payment card production and distribution, and lending and risk management products and services.
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