Today: Parsons Capital Management Inc. RI Cuts Stake in Fiserv Inc. (FISV)

Today: Parsons Capital Management Inc. RI Cuts Stake in Fiserv Inc. (FISV)

Parsons Capital Management Inc. RI decreased its position in Fiserv Inc. (NASDAQ:FISV) by 1.8% during the third quarter, Holdings Channel reports. The firm owned 5,303 shares of the company’s stock after selling 95 shares during the period. Parsons Capital Management Inc. RI’s holdings in Fiserv were worth $527,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in Fiserv by 603.2% in the second quarter. Tower Research Capital LLC TRC now owns 1,104 shares of the company’s stock worth $120,000 after buying an additional 947 shares during the period. Global X Management Co. LLC boosted its position in Fiserv by 97.0% in the second quarter. Global X Management Co. LLC now owns 1,172 shares of the company’s stock worth $127,000 after buying an additional 577 shares during the period. Financial Architects Inc boosted its position in Fiserv by 957.0% in the second quarter. Financial Architects Inc now owns 1,279 shares of the company’s stock worth $139,000 after buying an additional 1,158 shares during the period. Ropes Wealth Advisors LLC boosted its position in shares of Fiserv by 472.7% in the second quarter. Ropes Wealth Advisors LLC now owns 1,403 shares of the company’s stock valued at $153,000 after buying an additional 1,158 shares during the last quarter. Finally, First Manhattan Co. boosted its position in shares of Fiserv by 8.9% in the second quarter. First Manhattan Co. now owns 1,634 shares of the company’s stock valued at $177,000 after buying an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 85.86% of the company’s stock.

Fiserv Inc. (NASDAQ:FISV) traded down 0.38% during midday trading on Monday, hitting $106.82. 284,032 shares of the stock were exchanged. Fiserv Inc. has a 1-year low of $85.63 and a 1-year high of $111.51. The firm’s 50-day moving average price is $100.76 and its 200 day moving average price is $103.75. The firm has a market capitalization of $23.19 billion, a P/E ratio of 26.79 and a beta of 0.82.

Fiserv (NASDAQ:FISV) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.01. Fiserv had a net margin of 16.61% and a return on equity of 36.84%. The business earned $1.38 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the firm posted $1.03 EPS. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. Analysts expect that Fiserv Inc. will post $4.45 earnings per share for the current fiscal year.

Several equities analysts have recently weighed in on the company. Robert W. Baird upgraded Fiserv from a “neutral” rating to an “outperform” rating and set a $112.00 price objective for the company in a report on Friday, October 28th. JPMorgan Chase & Co. restated a “hold” rating and issued a $112.00 price objective on shares of Fiserv in a report on Wednesday, August 3rd. Credit Suisse Group AG restated a “hold” rating and issued a $101.00 price objective on shares of Fiserv in a report on Wednesday, August 3rd. Deutsche Bank AG raised their price objective on Fiserv from $95.00 to $101.00 and gave the company a “hold” rating in a report on Wednesday, August 3rd. Finally, Barclays PLC raised their price objective on Fiserv from $100.00 to $104.00 and gave the company an “equal weight” rating in a report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $107.35.

In related news, insider Devin Mcgranahan bought 15,000 shares of Fiserv stock in a transaction dated Wednesday, November 2nd. The stock was purchased at an average cost of $99.21 per share, with a total value of $1,488,150.00. Following the transaction, the insider now directly owns 25,155 shares of the company’s stock, valued at $2,495,627.55. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffery W. Yabuki sold 12,000 shares of the stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $100.46, for a total transaction of $1,205,520.00. Following the transaction, the insider now directly owns 323,994 shares of the company’s stock, valued at $32,548,437.24. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.

Fiserv Company Profile

Fiserv, Inc is a provider of financial services technology. The Company operates through two segments: Payments and Industry Products (Payments) and Financial Institution Services (Financial). The Payments segment provides debit and credit card processing and services, electronic bill payment and presentment services, Internet and mobile banking software and services, person-to-person payment services, and other electronic payments software and services.

Related posts

Leave a Comment