Assenagon Asset Management S.A. Sells 8,298 Shares of Fiserv Inc (FISV)

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Assenagon Asset Management S.A. lessened its stake in shares of Fiserv Inc (NASDAQ:FISV) by 54.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 7,000 shares of the business services provider’s stock after selling 8,298 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Fiserv were worth $618,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in FISV. Oregon Public Employees Retirement Fund raised its holdings in Fiserv by 7,194.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,345,408 shares of the business services provider’s stock valued at $141,000 after buying an additional 10,203,585 shares during the period. Norges Bank purchased a new stake in Fiserv during the 4th quarter valued at $288,462,000. Mackenzie Financial Corp raised its holdings in Fiserv by 78.5% during the 4th quarter. Mackenzie Financial Corp now owns 2,891,400 shares of the business services provider’s stock valued at $212,489,000 after buying an additional 1,271,171 shares during the period. BlackRock Inc. raised its holdings in Fiserv by 2.9% during the 4th quarter. BlackRock Inc. now owns 31,345,393 shares of the business services provider’s stock valued at $2,303,573,000 after buying an additional 898,122 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in Fiserv by 3.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 23,638,292 shares of the business services provider’s stock valued at $1,737,178,000 after buying an additional 845,558 shares during the period. Institutional investors own 89.31% of the company’s stock.

In other news, Director Kim M. Robak sold 10,904 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $87.01, for a total transaction of $948,757.04. Following the transaction, the director now owns 85,610 shares of the company’s stock, valued at approximately $7,448,926.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffery W. Yabuki sold 20,000 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $85.21, for a total value of $1,704,200.00. Following the transaction, the chief executive officer now directly owns 391,146 shares in the company, valued at approximately $33,329,550.66. The disclosure for this sale can be found here. Insiders have sold a total of 157,912 shares of company stock worth $13,389,571 in the last three months. Corporate insiders own 1.40% of the company’s stock.

FISV stock opened at $85.42 on Thursday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.07 and a current ratio of 1.07. Fiserv Inc has a twelve month low of $68.45 and a twelve month high of $91.19. The firm has a market capitalization of $34.01 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 2.09 and a beta of 0.80.

Fiserv (NASDAQ:FISV) last released its earnings results on Tuesday, April 30th. The business services provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. Fiserv had a return on equity of 50.83% and a net margin of 16.81%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter last year, the firm posted $0.76 earnings per share. The business’s revenue was up 4.3% compared to the same quarter last year. Sell-side analysts predict that Fiserv Inc will post 3.45 earnings per share for the current fiscal year.

Several analysts recently weighed in on the company. Zacks Investment Research lowered Fiserv from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. William Blair restated an “outperform” rating on shares of Fiserv in a report on Wednesday, May 1st. Deutsche Bank increased their price target on Fiserv from $71.00 to $94.00 and gave the company a “hold” rating in a report on Tuesday, April 23rd. BidaskClub lowered Fiserv from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Finally, Keefe, Bruyette & Woods assumed coverage on Fiserv in a research note on Monday, April 8th. They issued a “market perform” rating and a $101.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $88.57.

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About Fiserv

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.

Further Reading: Technical Analysis

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Institutional Ownership by Quarter for Fiserv (NASDAQ:FISV)

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