Indiana Trust & Investment Management CO Sells 2,790 Shares of Fiserv Inc (NASDAQ:FISV)

Indiana Trust & Investment Management CO decreased its position in Fiserv Inc (NASDAQ:FISV) by 6.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,677 shares of the business services provider’s stock after selling 2,790 shares during the period. Fiserv makes up 2.4% of Indiana Trust & Investment Management CO’s holdings, making the stock its 8th biggest holding. Indiana Trust & Investment Management CO’s holdings in Fiserv were worth $4,214,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FISV. ETF Managers Group LLC increased its stake in Fiserv by 44.3% in the second quarter. ETF Managers Group LLC now owns 345,087 shares of the business services provider’s stock valued at $31,344,000 after purchasing an additional 105,957 shares in the last quarter. Close Asset Management Ltd grew its position in Fiserv by 3.6% in the 2nd quarter. Close Asset Management Ltd now owns 1,107,701 shares of the business services provider’s stock worth $100,972,000 after purchasing an additional 38,799 shares in the last quarter. First Hawaiian Bank grew its position in Fiserv by 556.0% in the 2nd quarter. First Hawaiian Bank now owns 3,398 shares of the business services provider’s stock worth $310,000 after purchasing an additional 2,880 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Fiserv by 3.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 44,087 shares of the business services provider’s stock worth $4,018,000 after purchasing an additional 1,539 shares in the last quarter. Finally, Hartford Investment Management Co. grew its position in Fiserv by 0.7% in the 2nd quarter. Hartford Investment Management Co. now owns 43,219 shares of the business services provider’s stock worth $3,940,000 after purchasing an additional 302 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

In other news, insider Guy Chiarello sold 46,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $107.70, for a total transaction of $4,954,200.00. Following the transaction, the insider now owns 372,447 shares in the company, valued at $40,112,541.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffery W. Yabuki sold 20,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $94.25, for a total transaction of $1,885,000.00. Following the transaction, the insider now owns 331,429 shares in the company, valued at approximately $31,237,183.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 141,000 shares of company stock worth $14,713,000. 1.40% of the stock is owned by company insiders.

A number of brokerages have issued reports on FISV. Wedbush upped their price objective on shares of Fiserv from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Wells Fargo & Co began coverage on shares of Fiserv in a research report on Wednesday, June 19th. They issued an “outperform” rating and a $110.00 price objective for the company. Raymond James started coverage on shares of Fiserv in a research report on Friday, June 21st. They issued an “outperform” rating and a $103.00 price objective for the company. Argus reiterated a “buy” rating on shares of Fiserv in a research note on Monday, August 12th. Finally, Robert W. Baird increased their price target on Fiserv from $112.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Fiserv has a consensus rating of “Buy” and an average target price of $102.88.

Shares of NASDAQ:FISV traded up $1.47 during mid-day trading on Friday, reaching $104.52. 312,783 shares of the company’s stock were exchanged, compared to its average volume of 4,024,179. The firm has a market capitalization of $40.54 billion, a price-to-earnings ratio of 33.72, a PEG ratio of 2.25 and a beta of 0.79. The business’s fifty day moving average price is $105.19 and its 200-day moving average price is $94.32. The company has a debt-to-equity ratio of 5.40, a quick ratio of 4.97 and a current ratio of 4.97. Fiserv Inc has a twelve month low of $68.45 and a twelve month high of $109.92.

Fiserv (NASDAQ:FISV) last issued its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.50 billion. Fiserv had a net margin of 16.08% and a return on equity of 53.08%. Fiserv’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 earnings per share. Analysts predict that Fiserv Inc will post 3.83 EPS for the current fiscal year.

Fiserv 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.

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Institutional Ownership by Quarter for Fiserv (NASDAQ:FISV)

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