ClariVest Asset Management LLC lowered its position in Fiserv Inc (NASDAQ:FISV) by 4.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 528,990 shares of the business services provider’s stock after selling 24,072 shares during the period. Fiserv accounts for about 0.8% of ClariVest Asset Management LLC’s investment portfolio, making the stock its 28th largest holding. ClariVest Asset Management LLC owned about 0.13% of Fiserv worth $38,877,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. Tandem Investment Advisors Inc. raised its position in shares of Fiserv by 3.5% in the 4th quarter. Tandem Investment Advisors Inc. now owns 4,195 shares of the business services provider’s stock worth $308,000 after acquiring an additional 141 shares in the last quarter. Cornerstone Advisors Inc. raised its position in shares of Fiserv by 19.2% in the 4th quarter. Cornerstone Advisors Inc. now owns 906 shares of the business services provider’s stock worth $67,000 after acquiring an additional 146 shares in the last quarter. LVM Capital Management Ltd. MI raised its position in shares of Fiserv by 2.3% in the 4th quarter. LVM Capital Management Ltd. MI now owns 7,079 shares of the business services provider’s stock worth $520,000 after acquiring an additional 159 shares in the last quarter. OLD Second National Bank of Aurora increased its position in Fiserv by 0.4% during the 4th quarter. OLD Second National Bank of Aurora now owns 37,519 shares of the business services provider’s stock valued at $2,757,000 after buying an additional 163 shares in the last quarter. Finally, Campbell Newman Asset Management Inc. increased its position in Fiserv by 0.7% during the 4th quarter. Campbell Newman Asset Management Inc. now owns 25,195 shares of the business services provider’s stock valued at $1,852,000 after buying an additional 176 shares in the last quarter. 89.60% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on FISV. Credit Suisse Group raised their price objective on Fiserv from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, October 15th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $73.00 price objective on shares of Fiserv in a research report on Wednesday, January 16th. Wedbush raised their price objective on Fiserv from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, January 29th. BidaskClub raised Fiserv from a “hold” rating to a “buy” rating in a research report on Friday, October 19th. Finally, Stephens raised Fiserv from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $76.00 to $90.00 in a research report on Wednesday, January 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $86.49.
Fiserv (NASDAQ:FISV) last released its earnings results on Thursday, February 7th. The business services provider reported $0.84 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.84. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.55 billion. Fiserv had a return on equity of 47.56% and a net margin of 20.39%. Fiserv’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 earnings per share. On average, equities research analysts anticipate that Fiserv Inc will post 3.46 EPS for the current year.
In related news, insider Jeffery W. Yabuki sold 50,000 shares of Fiserv stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $76.94, for a total transaction of $3,847,000.00. Following the transaction, the insider now directly owns 471,157 shares in the company, valued at $36,250,819.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 150,000 shares of company stock worth $11,106,000 over the last quarter. 1.70% of the stock is owned by company 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; 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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