WESCAP Management Group Inc. cut its holdings in Fiserv Inc (NASDAQ:FISV) by 0.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 32,009 shares of the business services provider’s stock after selling 274 shares during the quarter. Fiserv comprises 1.2% of WESCAP Management Group Inc.’s holdings, making the stock its 24th biggest position. WESCAP Management Group Inc.’s holdings in Fiserv were worth $2,917,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Egerton Capital UK LLP bought a new stake in Fiserv in the 1st quarter valued at approximately $568,121,000. Lazard Asset Management LLC boosted its position in shares of Fiserv by 857.8% during the 1st quarter. Lazard Asset Management LLC now owns 3,493,843 shares of the business services provider’s stock worth $308,435,000 after purchasing an additional 3,129,050 shares during the period. Findlay Park Partners LLP boosted its position in shares of Fiserv by 144.4% during the 1st quarter. Findlay Park Partners LLP now owns 3,850,000 shares of the business services provider’s stock worth $339,878,000 after purchasing an additional 2,275,000 shares during the period. Janus Henderson Group PLC boosted its position in shares of Fiserv by 50.9% during the 1st quarter. Janus Henderson Group PLC now owns 4,060,675 shares of the business services provider’s stock worth $358,489,000 after purchasing an additional 1,370,268 shares during the period. Finally, Marshall Wace North America L.P. boosted its position in shares of Fiserv by 444.8% during the 1st quarter. Marshall Wace North America L.P. now owns 1,354,485 shares of the business services provider’s stock worth $119,574,000 after purchasing an additional 1,105,887 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.
In other news, insider Jeffery W. Yabuki sold 20,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $94.25, for a total value of $1,885,000.00. Following the sale, the insider now directly owns 331,429 shares in the company, valued at approximately $31,237,183.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 60,000 shares of company stock worth $5,733,600 over the last 90 days. Company insiders own 1.40% of the company’s stock.
Fiserv (NASDAQ:FISV) last announced its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. Fiserv had a net margin of 16.08% and a return on equity of 53.08%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the business earned $0.75 EPS. The company’s revenue was up 6.5% on a year-over-year basis. On average, sell-side analysts forecast that Fiserv Inc will post 3.68 earnings per share for the current year.
A number of equities analysts recently weighed in on FISV shares. Susquehanna Bancshares assumed coverage on shares of Fiserv in a research report on Friday, May 31st. They set a “neutral” rating and a $95.00 price objective for the company. SunTrust Banks upgraded shares of Fiserv from a “hold” rating to a “buy” rating and increased their target price for the stock from $91.00 to $100.00 in a report on Wednesday, June 5th. They noted that the move was a valuation call. Royal Bank of Canada set a $106.00 target price on shares of Fiserv and gave the stock a “buy” rating in a report on Friday, July 26th. Moffett Nathanson assumed coverage on shares of Fiserv in a report on Tuesday, May 21st. They set a “buy” rating and a $108.00 target price on the stock. Finally, William Blair reiterated an “outperform” rating on shares of Fiserv in a report on Wednesday, May 1st. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $97.88.
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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