Legacy Private Trust Co. Cuts Stock Holdings in Fiserv Inc (NASDAQ:FISV)
Legacy Private Trust Co. trimmed its position in shares of Fiserv Inc (NASDAQ:FISV) by 5.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 167,954 shares of the business services provider’s stock after selling 9,533 shares during the quarter. Fiserv accounts for approximately 1.7% of Legacy Private Trust Co.’s portfolio, making the stock its 13th largest holding. Legacy Private Trust Co.’s holdings in Fiserv were worth $15,311,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital Investment Advisors LLC grew its holdings in Fiserv by 33.2% during the 2nd quarter. Capital Investment Advisors LLC now owns 4,550 shares of the business services provider’s stock valued at $415,000 after buying an additional 1,135 shares in the last quarter. Gilman Hill Asset Management LLC grew its holdings in Fiserv by 17.3% during the 2nd quarter. Gilman Hill Asset Management LLC now owns 16,150 shares of the business services provider’s stock valued at $1,472,000 after buying an additional 2,380 shares in the last quarter. Covenant Asset Management LLC purchased a new position in Fiserv during the 2nd quarter valued at about $1,934,000. Toth Financial Advisory Corp grew its holdings in Fiserv by 0.6% during the 2nd quarter. Toth Financial Advisory Corp now owns 137,486 shares of the business services provider’s stock valued at $12,533,000 after buying an additional 845 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Fiserv by 6.7% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 120,728 shares of the business services provider’s stock valued at $11,006,000 after buying an additional 7,600 shares in the last quarter. 87.39% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have weighed in on FISV. BidaskClub raised Xilinx from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Zacks Investment Research lowered Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Northcoast Research lowered Illinois Tool Works from a “neutral” rating to a “sell” rating and set a $121.00 target price for the company. in a report on Wednesday, June 26th. Keefe, Bruyette & Woods began coverage on Fiserv in a report on Monday, April 8th. They set a “market perform” rating and a $101.00 price objective for the company. Finally, Raymond James set a $29.00 price objective on Seacoast Banking Co. of Florida and gave the stock a “buy” rating in a report on Friday, June 21st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Fiserv presently has an average rating of “Buy” and a consensus target price of $94.06.
Fiserv (NASDAQ:FISV) last issued its earnings results on Thursday, July 25th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.02. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. Fiserv had a return on equity of 53.08% and a net margin of 16.08%. Fiserv’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 earnings per share. As a group, equities research analysts anticipate that Fiserv Inc will post 3.48 EPS for the current year.
In other Fiserv news, insider Jeffery W. Yabuki sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $85.49, for a total value of $1,709,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffery W. Yabuki sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $88.95, for a total value of $177,900.00. Following the completion of the sale, 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 ninety days, insiders sold 62,000 shares of company stock valued at $5,557,300. 1.40% of the stock is owned by insiders.
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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