Covington Investment Advisors Lowers stake in Fiserv Inc (FISV)

Fiserv Inc (FISV) : Covington Investment Advisors reduced its stake in Fiserv Inc by 0.21% during the most recent quarter end. The investment management company now holds a total of 47,715 shares of Fiserv Inc which is valued at $4,931,822 after selling 100 shares in Fiserv Inc , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Fiserv Inc makes up approximately 2.14% of Covington Investment Advisors’s portfolio.

Other Hedge Funds, Including , Old Second National Bank Of Aurora boosted its stake in FISV in the latest quarter, The investment management firm added 145 additional shares and now holds a total of 20,658 shares of Fiserv Inc which is valued at $2,282,296. Fiserv Inc makes up approx 1.03% of Old Second National Bank Of Aurora’s portfolio.

Fiserv Inc opened for trading at $102.19 and hit $102.69 on the upside on Friday, eventually ending the session at $102.54, with a gain of 0.03% or 0.03 points. The heightened volatility saw the trading volume jump to 8,11,136 shares. Company has a market cap of $22,540 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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