Summit Securities Group adds Fiserv Inc (FISV) to its portfolio

Fiserv Inc (FISV) : Summit Securities Group added new position in Fiserv Inc during the most recent quarter end. The investment management firm now holds 30,219 shares of Fiserv Inc which is valued at $3.1 Million , the company said in a statement filed on May 11, 2016 with the SEC.Fiserv Inc makes up approximately 2.26% of Summit Securities Group’s portfolio.

Other Hedge Funds, Including , Great Lakes Advisors boosted its stake in FISV in the latest quarter, The investment management firm added 4,642 additional shares and now holds a total of 18,209 shares of Fiserv Inc which is valued at $1.9 Million. Fiserv Inc makes up approx 0.05% of Great Lakes Advisors’s portfolio.Addenda Capital boosted its stake in FISV in the latest quarter, The investment management firm added 391 additional shares and now holds a total of 19,490 shares of Fiserv Inc which is valued at $2 Million. Fiserv Inc makes up approx 0.18% of Addenda Capital’s portfolio.Strategy Asset Managers reduced its stake in FISV by selling 2,800 shares or 5.28% in the most recent quarter. The Hedge Fund company now holds 50,241 shares of FISV which is valued at $4.9 Million. Fiserv Inc makes up approx 1.11% of Strategy Asset Managers’s portfolio.Tarbox Group boosted its stake in FISV in the latest quarter, The investment management firm added 13 additional shares and now holds a total of 148 shares of Fiserv Inc which is valued at $14,463. Fiserv Inc makes up approx 0.01% of Tarbox Group’s portfolio.

Fiserv Inc opened for trading at $103.7 and hit $104.67 on the upside on Monday, eventually ending the session at $104.25, with a gain of 0.39% or 0.4 points. The heightened volatility saw the trading volume jump to 7,52,399 shares. Company has a market cap of $23,178 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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