Wealth Enhancement Advisory Services LLC Makes New Investment in Fiserv Inc (NASDAQ:FISV)

Wealth Enhancement Advisory Services LLC acquired a new position in Fiserv Inc (NASDAQ:FISV) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 20,747 shares of the business services provider’s stock, valued at approximately $2,171,000.

A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. boosted its position in Fiserv by 0.8% in the first quarter. BlackRock Inc. now owns 31,604,338 shares of the business services provider’s stock worth $2,790,031,000 after purchasing an additional 258,945 shares during the last quarter. FMR LLC boosted its position in Fiserv by 8.6% in the first quarter. FMR LLC now owns 6,516,935 shares of the business services provider’s stock worth $575,315,000 after purchasing an additional 513,992 shares during the last quarter. Egerton Capital UK LLP purchased a new position in Fiserv in the first quarter worth $568,121,000. Geode Capital Management LLC lifted its position in shares of Fiserv by 8.2% during the 4th quarter. Geode Capital Management LLC now owns 6,221,364 shares of the business services provider’s stock valued at $456,535,000 after buying an additional 469,507 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Fiserv by 1.5% during the 1st quarter. Northern Trust Corp now owns 5,441,830 shares of the business services provider’s stock valued at $480,404,000 after buying an additional 81,710 shares during the last quarter. 87.39% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently commented on FISV shares. BidaskClub raised Fiserv from a “hold” rating to a “buy” rating in a research report on Saturday, August 3rd. Oppenheimer upped their price target on Fiserv from $97.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, June 12th. Argus reaffirmed a “buy” rating on shares of Fiserv in a research report on Monday. William Blair reaffirmed an “outperform” rating on shares of Fiserv in a research report on Wednesday, May 1st. Finally, Zacks Investment Research cut Fiserv from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Fiserv presently has a consensus rating of “Buy” and an average target price of $97.88.

FISV traded up $2.21 during trading on Thursday, reaching $104.61. 321,375 shares of the company were exchanged, compared to its average volume of 8,282,905. The company has a 50-day simple moving average of $97.93. The stock has a market cap of $40.95 billion, a P/E ratio of 33.72, a price-to-earnings-growth ratio of 2.31 and a beta of 0.80. The company has a debt-to-equity ratio of 5.40, a quick ratio of 4.97 and a current ratio of 4.97. Fiserv Inc has a 12-month low of $68.45 and a 12-month high of $107.06.

Fiserv (NASDAQ:FISV) last issued its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Fiserv had a return on equity of 53.08% and a net margin of 16.08%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 EPS. Equities analysts predict that Fiserv Inc will post 3.76 earnings per share for the current year.

In related news, insider Jeffery W. Yabuki sold 2,000 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $88.95, for a total transaction of $177,900.00. Following the sale, the insider now owns 371,429 shares of the company’s stock, valued at approximately $33,038,609.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Jeffery W. Yabuki sold 20,000 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $103.20, for a total value of $2,064,000.00. Following the sale, the chairman now directly owns 330,629 shares in the company, valued at approximately $34,120,912.80. The disclosure for this sale can be found here. Insiders have sold a total of 62,000 shares of company stock worth $5,911,500 in the last three months. 1.40% of the stock is currently owned by insiders.

Fiserv Company Profile

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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Institutional Ownership by Quarter for Fiserv (NASDAQ:FISV)

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