Connable Office Inc. Raises Stock Position in Fiserv, Inc. (NASDAQ:FISV)

Connable Office Inc. boosted its holdings in Fiserv, Inc. (NASDAQ:FISVGet Rating) by 3.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 25,281 shares of the business services provider’s stock after purchasing an additional 873 shares during the quarter. Connable Office Inc.’s holdings in Fiserv were worth $2,624,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Rockland Trust Co. purchased a new stake in Fiserv in the 4th quarter worth $230,000. Corient Capital Partners LLC boosted its holdings in shares of Fiserv by 43.9% during the 3rd quarter. Corient Capital Partners LLC now owns 21,269 shares of the business services provider’s stock valued at $2,308,000 after purchasing an additional 6,486 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Fiserv by 56.1% during the 4th quarter. ProShare Advisors LLC now owns 1,209,859 shares of the business services provider’s stock valued at $125,570,000 after purchasing an additional 434,585 shares during the last quarter. CWM LLC bought a new position in shares of Fiserv during the 4th quarter valued at about $3,615,000. Finally, LPL Financial LLC boosted its holdings in shares of Fiserv by 9.6% during the 4th quarter. LPL Financial LLC now owns 230,191 shares of the business services provider’s stock valued at $23,892,000 after purchasing an additional 20,103 shares during the last quarter. Institutional investors and hedge funds own 97.24% of the company’s stock.

FISV has been the subject of several research reports. The Goldman Sachs Group initiated coverage on shares of Fiserv in a report on Tuesday, May 17th. They set a “neutral” rating and a $108.00 price objective for the company. Morgan Stanley dropped their price objective on shares of Fiserv from $117.00 to $114.00 and set an “equal weight” rating for the company in a report on Wednesday, February 9th. Rosenblatt Securities dropped their price objective on shares of Fiserv from $131.00 to $127.00 and set a “buy” rating for the company in a report on Wednesday, February 9th. Tigress Financial increased their price target on shares of Fiserv from $150.00 to $152.00 in a report on Friday, May 27th. Finally, Cowen downgraded shares of Fiserv from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $144.00 to $126.00 in a report on Tuesday, April 12th. Eleven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $126.28.

In related news, COO Guy Chiarello sold 43,000 shares of Fiserv stock in a transaction that occurred on Thursday, April 28th. The shares were sold at an average price of $104.31, for a total transaction of $4,485,330.00. Following the transaction, the chief operating officer now directly owns 216,864 shares of the company’s stock, valued at $22,621,083.84. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Holdings L.P. Valueact acquired 112,575 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The shares were acquired at an average cost of $94.90 per share, for a total transaction of $10,683,367.50. Following the completion of the acquisition, the director now owns 13,147,776 shares of the company’s stock, valued at $1,247,723,942.40. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 612,575 shares of company stock worth $57,795,360. 1.00% of the stock is currently owned by corporate insiders.

Shares of NASDAQ:FISV opened at $99.67 on Friday. The firm has a market cap of $64.99 billion, a PE ratio of 38.93, a price-to-earnings-growth ratio of 1.16 and a beta of 0.79. The firm’s 50 day simple moving average is $99.11 and its 200-day simple moving average is $100.62. Fiserv, Inc. has a one year low of $89.91 and a one year high of $119.86. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.04 and a current ratio of 1.04.

Fiserv (NASDAQ:FISVGet Rating) last issued its earnings results on Wednesday, April 27th. The business services provider reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.05. The business had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.85 billion. Fiserv had a net margin of 10.23% and a return on equity of 12.05%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company posted $1.17 earnings per share. Equities research analysts predict that Fiserv, Inc. will post 6.48 EPS for the current fiscal year.

Fiserv Company Profile (Get Rating)

Fiserv, Inc, together with its subsidiaries, provides payment and financial services technology worldwide. The company operates through Acceptance, Fintech, and Payments segments. The Acceptance segment provides point-of-sale merchant acquiring and digital commerce services; mobile payment services; security and fraud protection products; Carat, an omnichannel commerce solution; Clover, a cloud-based point-of-sale and business management platform; and Clover Connect, an independent software vendors platform.

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Institutional Ownership by Quarter for Fiserv (NASDAQ:FISV)

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