TD Asset Management Inc. Increases Position in Fiserv Inc (FISV)

TD Asset Management Inc. boosted its position in shares of Fiserv Inc (NASDAQ:FISV) by 10.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,055,887 shares of the business services provider’s stock after buying an additional 96,536 shares during the period. TD Asset Management Inc.’s holdings in Fiserv were worth $93,214,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Renaissance Technologies LLC increased its position in shares of Fiserv by 94.2% during the 3rd quarter. Renaissance Technologies LLC now owns 23,708 shares of the business services provider’s stock valued at $1,953,000 after purchasing an additional 11,500 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Fiserv by 8.4% during the 3rd quarter. Teachers Advisors LLC now owns 672,494 shares of the business services provider’s stock valued at $55,400,000 after purchasing an additional 52,000 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Fiserv by 6.6% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,108,381 shares of the business services provider’s stock valued at $91,308,000 after purchasing an additional 68,667 shares during the last quarter. First Hawaiian Bank increased its position in shares of Fiserv by 31.9% during the 4th quarter. First Hawaiian Bank now owns 1,414 shares of the business services provider’s stock valued at $104,000 after purchasing an additional 342 shares during the last quarter. Finally, Capital Investment Advisors LLC purchased a new stake in shares of Fiserv during the 4th quarter valued at $200,000. 90.56% of the stock is owned by institutional investors.

In related news, Director Kim M. Robak sold 10,904 shares of Fiserv stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $87.01, for a total value of $948,757.04. Following the completion of the sale, the director now owns 85,610 shares of the company’s stock, valued at approximately $7,448,926.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jeffery W. Yabuki sold 20,000 shares of Fiserv stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 391,146 shares of the company’s stock, valued at approximately $33,329,550.66. The disclosure for this sale can be found here. In the last three months, insiders sold 177,912 shares of company stock valued at $15,099,371. 1.40% of the stock is currently owned by insiders.

FISV traded up $1.74 during trading hours on Tuesday, hitting $88.92. The stock had a trading volume of 94,476 shares, compared to its average volume of 5,042,362. Fiserv Inc has a 1 year low of $68.45 and a 1 year high of $91.19. The firm has a market cap of $34.69 billion, a P/E ratio of 28.67, a price-to-earnings-growth ratio of 2.11 and a beta of 0.80. 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 (NASDAQ:FISV) last announced its quarterly earnings data on Tuesday, April 30th. The business services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.02. Fiserv had a return on equity of 50.83% and a net margin of 16.81%. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter last year, the firm posted $0.76 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, research analysts predict that Fiserv Inc will post 3.45 earnings per share for the current fiscal year.

Several brokerages have recently issued reports on FISV. Keefe, Bruyette & Woods began coverage on Fiserv in a research report on Monday, April 8th. They set a “market perform” rating and a $101.00 target price for the company. Zacks Investment Research lowered Fiserv from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Moffett Nathanson began coverage on Fiserv in a research report on Tuesday. They set a “buy” rating and a $108.00 target price for the company. BidaskClub lowered Fiserv from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. Finally, Deutsche Bank raised their target price on Fiserv from $71.00 to $94.00 and gave the company a “hold” rating in a research report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $89.59.

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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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