Fiserv, Inc. $FISV Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel cut its stake in Fiserv, Inc. (NASDAQ:FISV) by 39.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,604 shares of the business services provider’s stock after selling 24,966 shares during the period. Carnegie Investment Counsel’s holdings in Fiserv were worth $4,848,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Fiserv during the second quarter worth $1,252,260,000. Alliancebernstein L.P. increased its position in shares of Fiserv by 5.3% in the first quarter. Alliancebernstein L.P. now owns 5,724,666 shares of the business services provider’s stock valued at $1,264,178,000 after buying an additional 287,420 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Fiserv by 4.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,778,795 shares of the business services provider’s stock worth $1,055,301,000 after buying an additional 190,527 shares during the last quarter. Amundi boosted its position in shares of Fiserv by 27.2% in the 2nd quarter. Amundi now owns 3,781,665 shares of the business services provider’s stock worth $652,148,000 after buying an additional 807,916 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Fiserv by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 3,506,096 shares of the business services provider’s stock valued at $604,486,000 after acquiring an additional 39,036 shares during the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $91.00 price target on shares of Fiserv in a report on Thursday, October 30th. Weiss Ratings restated a “sell (d+)” rating on shares of Fiserv in a research report on Monday, December 22nd. Citigroup lowered their target price on Fiserv from $128.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Zacks Research downgraded Fiserv from a “hold” rating to a “strong sell” rating in a research report on Friday, October 31st. Finally, BNP Paribas Exane restated a “neutral” rating and issued a $62.00 price objective on shares of Fiserv in a research report on Wednesday, November 5th. Ten equities research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $119.58.

Fiserv Trading Down 0.7%

Shares of Fiserv stock opened at $67.50 on Friday. Fiserv, Inc. has a fifty-two week low of $59.56 and a fifty-two week high of $238.59. The business’s fifty day moving average is $73.38 and its two-hundred day moving average is $119.63. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.15. The firm has a market cap of $36.69 billion, a PE ratio of 10.43, a P/E/G ratio of 2.60 and a beta of 0.80.

Fiserv (NASDAQ:FISV) last released its earnings results on Tuesday, March 26th. The business services provider reported $1.91 EPS for the quarter. Fiserv had a return on equity of 19.47% and a net margin of 17.05%.The firm had revenue of $4.32 billion during the quarter. Analysts anticipate that Fiserv, Inc. will post 10.23 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Paul M. Todd purchased 17,000 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were bought at an average price of $62.41 per share, for a total transaction of $1,060,970.00. Following the acquisition, the chief financial officer directly owned 24,453 shares in the company, valued at $1,526,111.73. This trade represents a 228.10% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Lance M. Fritz acquired 10,000 shares of the stock in a transaction dated Thursday, October 30th. The shares were bought at an average cost of $65.18 per share, with a total value of $651,800.00. Following the completion of the purchase, the director directly owned 13,086 shares in the company, valued at approximately $852,945.48. This trade represents a 324.04% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have purchased 34,900 shares of company stock valued at $2,211,971. Insiders own 1.00% of the company’s stock.

Fiserv Profile

Fiserv, Inc, founded in 1984 and headquartered in Brookfield, Wisconsin, is a global provider of financial services technology. The company develops and delivers integrated solutions for payments, processing, risk and compliance, customer and channel management, and business insights and optimization. Serving thousands of clients, Fiserv supports banks, credit unions, securities broker-dealers, leasing and finance companies, and retailers.

Fiserv’s core offerings include account processing systems that automate deposit, lending and transaction processing for financial institutions, as well as digital banking platforms that enable mobile and online banking services.