Chickasaw Capital Management LLC Acquires Shares of 2,527 Fiserv Inc (NASDAQ:FISV)

Chickasaw Capital Management LLC purchased a new position in Fiserv Inc (NASDAQ:FISV) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,527 shares of the business services provider’s stock, valued at approximately $262,000.

Several other institutional investors and hedge funds also recently bought and sold shares of FISV. Fiera Capital Corp raised its position in shares of Fiserv by 69.1% in the 1st quarter. Fiera Capital Corp now owns 212,069 shares of the business services provider’s stock worth $18,722,000 after purchasing an additional 86,674 shares during the last quarter. Evergreen Capital Management LLC purchased a new position in shares of Fiserv in the 1st quarter worth about $209,000. AlphaCrest Capital Management LLC purchased a new position in shares of Fiserv in the 1st quarter worth about $266,000. Jennison Associates LLC raised its position in shares of Fiserv by 6,686.1% in the 1st quarter. Jennison Associates LLC now owns 489,210 shares of the business services provider’s stock worth $43,187,000 after purchasing an additional 482,001 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Fiserv by 3.3% in the 1st quarter. Principal Financial Group Inc. now owns 623,236 shares of the business services provider’s stock worth $55,019,000 after purchasing an additional 19,928 shares during the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently issued reports on the company. Raymond James assumed coverage on Fiserv in a research report on Friday, June 21st. They issued an “outperform” rating and a $103.00 price target for the company. Robert W. Baird lifted their price objective on Fiserv from $112.00 to $122.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Royal Bank of Canada set a $106.00 price objective on Fiserv and gave the stock a “buy” rating in a report on Friday, July 26th. BidaskClub upgraded Fiserv from a “hold” rating to a “buy” rating in a report on Friday. Finally, Wells Fargo & Co started coverage on Fiserv in a report on Wednesday, June 19th. They issued an “outperform” rating and a $110.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $102.88.

Shares of Fiserv stock traded up $2.65 during trading hours on Friday, reaching $105.70. 2,239,247 shares of the stock traded hands, compared to its average volume of 4,755,045. The company has a 50 day moving average price of $105.24 and a 200 day moving average price of $94.41. The firm has a market capitalization of $40.54 billion, a price-to-earnings ratio of 34.10, a P/E/G ratio of 2.25 and a beta of 0.79. Fiserv Inc has a one year low of $68.45 and a one year high of $109.92. The company has a quick ratio of 4.97, a current ratio of 4.97 and a debt-to-equity ratio of 5.40.

Fiserv (NASDAQ:FISV) last released its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. Fiserv had a return on equity of 53.08% and a net margin of 16.08%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 EPS. Sell-side analysts anticipate that Fiserv Inc will post 3.83 earnings per share for the current year.

In other Fiserv news, Chairman Jeffery W. Yabuki sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $107.45, for a total transaction of $2,686,250.00. Following the completion of the sale, the chairman now directly owns 291,429 shares in the company, valued at approximately $31,314,046.05. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Jeffery W. Yabuki sold 20,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $103.20, for a total value of $2,064,000.00. Following the sale, the chairman now owns 330,629 shares of the company’s stock, valued at $34,120,912.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 141,000 shares of company stock valued at $14,713,000. Corporate insiders own 1.40% of the company’s stock.

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.

Further Reading: Understanding the Price to Earnings Ratio (PE)

Institutional Ownership by Quarter for Fiserv (NASDAQ:FISV)

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