Cullinan Associates Inc. Has $7.18 Million Holding in Fiserv Inc (FISV)

Cullinan Associates Inc. Has $7.18 Million Holding in Fiserv Inc (FISV)

Cullinan Associates Inc. grew its stake in Fiserv Inc (NASDAQ:FISV) by 0.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,652 shares of the business services provider’s stock after acquiring an additional 150 shares during the period. Cullinan Associates Inc.’s holdings in Fiserv were worth $7,176,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. First Hawaiian Bank grew its holdings in Fiserv by 31.9% during the fourth quarter. First Hawaiian Bank now owns 1,414 shares of the business services provider’s stock worth $104,000 after purchasing an additional 342 shares during the period. Bank of Stockton grew its holdings in Fiserv by 4.5% during the third quarter. Bank of Stockton now owns 15,268 shares of the business services provider’s stock worth $1,257,000 after purchasing an additional 655 shares during the period. Arrow Financial Corp grew its holdings in Fiserv by 15.3% during the third quarter. Arrow Financial Corp now owns 4,935 shares of the business services provider’s stock worth $407,000 after purchasing an additional 655 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Fiserv by 0.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 74,606 shares of the business services provider’s stock worth $6,146,000 after purchasing an additional 702 shares during the period. Finally, WEALTHFRONT Corp grew its holdings in Fiserv by 4.5% during the third quarter. WEALTHFRONT Corp now owns 16,455 shares of the business services provider’s stock worth $1,356,000 after purchasing an additional 712 shares during the period. Institutional investors own 87.48% of the company’s stock.

FISV stock traded down $0.58 during mid-day trading on Friday, hitting $73.80. 23,811 shares of the company were exchanged, compared to its average volume of 2,056,894. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $29.22 billion, a PE ratio of 28.85, a price-to-earnings-growth ratio of 1.82 and a beta of 0.78. Fiserv Inc has a 1-year low of $62.76 and a 1-year high of $82.79.

Fiserv (NASDAQ:FISV) last issued its quarterly earnings data on Wednesday, October 31st. The business services provider reported $0.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.02). Fiserv had a return on equity of 44.31% and a net margin of 25.00%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the business earned $1.27 earnings per share. The company’s revenue was up .9% on a year-over-year basis. As a group, research analysts expect that Fiserv Inc will post 3.13 EPS for the current year.

In other news, insider Jeffery W. Yabuki sold 50,000 shares of Fiserv stock in a transaction that occurred on Wednesday, November 21st. The shares were sold at an average price of $76.94, for a total value of $3,847,000.00. Following the completion of the sale, the insider now directly owns 471,157 shares in the company, valued at $36,250,819.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 150,000 shares of company stock valued at $11,492,000. 1.70% of the stock is owned by company insiders.

A number of equities analysts recently commented on FISV shares. Zacks Investment Research cut Fiserv from a “hold” rating to a “sell” rating in a report on Monday, October 15th. BidaskClub cut Fiserv from a “buy” rating to a “hold” rating in a report on Thursday, September 20th. Robert W. Baird lifted their price target on Fiserv from $82.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, September 24th. Barclays initiated coverage on Fiserv in a report on Wednesday, November 14th. They set an “overweight” rating and a $95.00 price target for the company. Finally, Argus set a $90.00 price objective on shares of Fiserv and gave the stock a “buy” rating in a research report on Wednesday, September 19th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $81.33.

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; 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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