Miracle Mile Advisors LLC lifted its stake in Fiserv, Inc. (NASDAQ:FISV – Get Rating) by 20.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,753 shares of the business services provider’s stock after acquiring an additional 1,127 shares during the period. Miracle Mile Advisors LLC’s holdings in Fiserv were worth $683,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in FISV. Atlas Capital Advisors LLC boosted its stake in Fiserv by 71.9% in the 2nd quarter. Atlas Capital Advisors LLC now owns 306 shares of the business services provider’s stock worth $27,000 after purchasing an additional 128 shares during the period. Colonial Trust Advisors purchased a new stake in shares of Fiserv in the third quarter worth about $28,000. MV Capital Management Inc. boosted its position in shares of Fiserv by 58.8% in the third quarter. MV Capital Management Inc. now owns 308 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 114 shares during the period. EverSource Wealth Advisors LLC grew its stake in Fiserv by 61.7% during the third quarter. EverSource Wealth Advisors LLC now owns 401 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 153 shares in the last quarter. Finally, Cambridge Trust Co. increased its holdings in Fiserv by 45.1% during the 3rd quarter. Cambridge Trust Co. now owns 402 shares of the business services provider’s stock worth $38,000 after acquiring an additional 125 shares during the period. 88.79% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages have commented on FISV. Robert W. Baird raised their price target on shares of Fiserv from $132.00 to $138.00 in a report on Wednesday, February 15th. Credit Suisse Group lifted their price objective on Fiserv from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, February 8th. Barclays upped their target price on Fiserv from $125.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 8th. Morgan Stanley lifted their price target on Fiserv from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 8th. Finally, The Goldman Sachs Group decreased their price objective on shares of Fiserv from $123.00 to $105.00 and set a “neutral” rating on the stock in a research report on Monday, January 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Fiserv presently has an average rating of “Moderate Buy” and an average price target of $127.14.
Fiserv Price Performance
Fiserv (NASDAQ:FISV – Get Rating) last issued its earnings results on Tuesday, February 7th. The business services provider reported $1.91 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.91. Fiserv had a net margin of 14.26% and a return on equity of 13.32%. The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.35 billion. During the same quarter last year, the business earned $1.57 earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. As a group, analysts predict that Fiserv, Inc. will post 7.32 earnings per share for the current year.
Fiserv declared that its Board of Directors has initiated a stock repurchase program on Thursday, February 23rd that permits the company to repurchase 75,000,000 shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
Insider Buying and Selling at Fiserv
In related news, Director Holdings L.P. Valueact sold 675,014 shares of the firm’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $101.51, for a total value of $68,520,671.14. Following the sale, the director now directly owns 11,647,776 shares of the company’s stock, valued at $1,182,365,741.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Fiserv news, COO Guy Chiarello sold 1,063 shares of the company’s stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $105.03, for a total value of $111,646.89. Following the completion of the transaction, the chief operating officer now directly owns 201,623 shares in the company, valued at approximately $21,176,463.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Holdings L.P. Valueact sold 675,014 shares of the business’s stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $101.51, for a total transaction of $68,520,671.14. Following the transaction, the director now owns 11,647,776 shares in the company, valued at approximately $1,182,365,741.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,764,044 shares of company stock worth $180,072,098. 1.00% of the stock is currently owned by company insiders.
Fiserv Company Profile
Fiserv, Inc engages in the provision of financial services technology. It operates through the following segments: Merchant Acceptance, Financial Technology, and Payments and Network. The Merchant Acceptance segment provides commerce enabling solutions and serves merchants of all sizes around the world.
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