Baird Financial Group Lowers stake in Fiserv Inc (FISV)

Fiserv Inc (FISV) : Baird Financial Group reduced its stake in Fiserv Inc by 8.23% during the most recent quarter end. The investment management company now holds a total of 888,102 shares of Fiserv Inc which is valued at $91,794,223 after selling 79,625 shares in Fiserv Inc , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Fiserv Inc makes up approximately 0.80% of Baird Financial Group’s portfolio.

Other Hedge Funds, Including , Apg Asset Management N.v. boosted its stake in FISV in the latest quarter, The investment management firm added 25,800 additional shares and now holds a total of 351,628 shares of Fiserv Inc which is valued at $36,344,270. Fiserv Inc makes up approx 0.07% of Apg Asset Management N.v.’s portfolio.Smithfield Trust Co boosted its stake in FISV in the latest quarter, The investment management firm added 1,174 additional shares and now holds a total of 2,532 shares of Fiserv Inc which is valued at $279,432. Fiserv Inc makes up approx 0.05% of Smithfield Trust Co’s portfolio.Callahan Advisors reduced its stake in FISV by selling 3,315 shares or 5.31% in the most recent quarter. The Hedge Fund company now holds 59,135 shares of FISV which is valued at $6,504,850. Fiserv Inc makes up approx 1.68% of Callahan Advisors’s portfolio.Meeder Asset Management Inc boosted its stake in FISV in the latest quarter, The investment management firm added 1,030 additional shares and now holds a total of 3,538 shares of Fiserv Inc which is valued at $390,878. Fiserv Inc makes up approx 0.04% of Meeder Asset Management Inc’s portfolio.Patton Albertson Miller Group reduced its stake in FISV by selling 3,896 shares or 11.34% in the most recent quarter. The Hedge Fund company now holds 30,464 shares of FISV which is valued at $3,368,404. Fiserv Inc makes up approx 1.48% of Patton Albertson Miller Group’s portfolio.

Fiserv Inc opened for trading at $103 and hit $104.46 on the upside on Tuesday, eventually ending the session at $104.12, with a gain of 1.24% or 1.28 points. The heightened volatility saw the trading volume jump to 13,22,306 shares. Company has a market cap of $22,887 M.

On the company’s financial health, Fiserv Inc reported $1.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $1.07. The company had revenue of $1363.00 million for the quarter, compared to analysts expectations of $1379.29 million. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 EPS.

Many Wall Street Analysts have commented on Fiserv Inc. Company shares were Reiterated by Barclays on Jul 7, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 100 from a previous price target of $93 .

Fiserv Inc. (Fiserv) is a global provider of financial services technology. The Company provides account processing systems; electronic payments processing products and services and related services including document and payment card production and distribution check processing and imaging source capture systems and lending and risk management products and services. The Company’s Payments and Industry Products segment primarily provides debit credit and prepaid card processing and services electronic bill payment and presentment services Internet and mobile banking software and services person-to-person payment services and other electronic payments software and services. The Company’s Financial Institution Services business segment provides account processing services item processing and source capture services loan origination and servicing products cash management and consulting services.

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