Covington Investment Advisors Lowers stake in Fiserv Inc (FISV)

Fiserv Inc (FISV) : Covington Investment Advisors reduced its stake in Fiserv Inc by 0.97% during the most recent quarter end. The investment management company now holds a total of 47,815 shares of Fiserv Inc which is valued at $5 Million after selling 470 shares in Fiserv Inc , the firm said in a disclosure report filed with the SEC on May 12, 2016.Fiserv Inc makes up approximately 2.27% of Covington Investment Advisors’s portfolio.

Other Hedge Funds, Including , Cognios Capital boosted its stake in FISV in the latest quarter, The investment management firm added 14,207 additional shares and now holds a total of 56,561 shares of Fiserv Inc which is valued at $5.9 Million. Fiserv Inc makes up approx 2.20% of Cognios Capital’s portfolio.Roberts Glore Co Inc Il reduced its stake in FISV by selling 1,365 shares or 23.19% in the most recent quarter. The Hedge Fund company now holds 4,520 shares of FISV which is valued at $463,933. Fiserv Inc makes up approx 0.35% of Roberts Glore Co Inc Il’s portfolio.State Board Of Administration Of Florida Retirement System reduced its stake in FISV by selling 7,580 shares or 2.45% in the most recent quarter. The Hedge Fund company now holds 302,427 shares of FISV which is valued at $31 Million. Fiserv Inc makes up approx 0.12% of State Board Of Administration Of Florida Retirement System’s portfolio.Parkside Financial Bank Trust boosted its stake in FISV in the latest quarter, The investment management firm added 13 additional shares and now holds a total of 71 shares of Fiserv Inc which is valued at $7,287.Aperio Group boosted its stake in FISV in the latest quarter, The investment management firm added 1,644 additional shares and now holds a total of 122,091 shares of Fiserv Inc which is valued at $11.9 Million. Fiserv Inc makes up approx 0.10% of Aperio Group’s portfolio.

Fiserv Inc opened for trading at $102.17 and hit $103.1 on the upside on Friday, eventually ending the session at $102.44, with a gain of 0.65% or 0.66 points. The heightened volatility saw the trading volume jump to 10,84,351 shares. Company has a market cap of $22,775,485 M.

On the company’s financial health, Fiserv Inc reported $1.06 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on May 5, 2016. Analyst had a consensus of $1.02. The company had revenue of $1331.00 million for the quarter, compared to analysts expectations of $1338.22 million. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS.

Many Wall Street Analysts have commented on Fiserv Inc. Compass Point Initiated Fiserv Inc on Apr 15, 2016 to “Sell”, Price Target of the shares are set at $85.

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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