Marshall Wace LLP Buys Shares of 17,294 Fiserv Inc (NASDAQ:FISV)
Marshall Wace LLP acquired a new position in shares of Fiserv Inc (NASDAQ:FISV) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 17,294 shares of the business services provider’s stock, valued at approximately $1,281,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Fiserv by 100.0% in the first quarter. Municipal Employees Retirement System of Michigan now owns 10,880 shares of the business services provider’s stock valued at $776,000 after acquiring an additional 5,440 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in shares of Fiserv by 1.6% in the second quarter. Macquarie Group Ltd. now owns 284,676 shares of the business services provider’s stock valued at $21,092,000 after acquiring an additional 4,444 shares in the last quarter. Findlay Park Partners LLP boosted its holdings in shares of Fiserv by 27.1% in the second quarter. Findlay Park Partners LLP now owns 1,525,000 shares of the business services provider’s stock valued at $112,987,000 after acquiring an additional 325,000 shares in the last quarter. Commonwealth Bank of Australia boosted its holdings in Fiserv by 40.2% during the second quarter. Commonwealth Bank of Australia now owns 30,817 shares of the business services provider’s stock worth $2,279,000 after buying an additional 8,843 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in Fiserv by 1.7% during the second quarter. Raymond James & Associates now owns 211,119 shares of the business services provider’s stock worth $15,642,000 after buying an additional 3,578 shares in the last quarter. Hedge funds and other institutional investors own 88.36% of the company’s stock.
In other Fiserv news, insider Jeffery W. Yabuki sold 50,000 shares of the stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $79.72, for a total value of $3,986,000.00. Following the completion of the sale, the insider now owns 418,380 shares in the company, valued at approximately $33,353,253.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 150,000 shares of company stock valued at $11,769,500. Insiders own 1.70% of the company’s stock.
Fiserv (NASDAQ:FISV) last issued its quarterly earnings results on Tuesday, July 31st. The business services provider reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.01. Fiserv had a net margin of 25.14% and a return on equity of 44.25%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the firm earned $0.57 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities analysts predict that Fiserv Inc will post 3.13 earnings per share for the current year.
FISV has been the subject of a number of research reports. Wolfe Research initiated coverage on shares of Fiserv in a report on Tuesday, July 17th. They set a “market perform” rating for the company. BidaskClub cut shares of Fiserv from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 26th. Cantor Fitzgerald restated a “hold” rating and set a $73.00 target price on shares of Fiserv in a report on Wednesday, August 1st. SunTrust Banks raised their target price on shares of Fiserv to $87.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. Finally, Deutsche Bank raised their target price on shares of Fiserv from $63.50 to $71.00 and gave the stock a “hold” rating in a report on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $78.25.
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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