Summit Creek Advisors LLC Purchases 33,646 Shares of FirstService Co. (NASDAQ:FSV)

Summit Creek Advisors LLC boosted its position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 47.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,272 shares of the financial services provider’s stock after acquiring an additional 33,646 shares during the quarter. FirstService accounts for approximately 2.2% of Summit Creek Advisors LLC’s investment portfolio, making the stock its 22nd biggest holding. Summit Creek Advisors LLC owned approximately 0.23% of FirstService worth $15,888,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. bought a new stake in shares of FirstService in the 4th quarter valued at about $39,000. Spire Wealth Management acquired a new position in FirstService during the fourth quarter worth approximately $40,000. Accent Capital Management LLC bought a new stake in FirstService in the fourth quarter valued at approximately $40,000. Blue Trust Inc. lifted its position in shares of FirstService by 8,066.7% in the second quarter. Blue Trust Inc. now owns 245 shares of the financial services provider’s stock valued at $41,000 after buying an additional 242 shares during the last quarter. Finally, Gulf International Bank UK Ltd boosted its stake in shares of FirstService by 25.9% during the 1st quarter. Gulf International Bank UK Ltd now owns 365 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 75 shares during the period. Institutional investors and hedge funds own 69.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FSV shares. BMO Capital Markets increased their price target on FirstService from $193.00 to $196.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Royal Bank of Canada increased their price objective on shares of FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Scotiabank lifted their target price on shares of FirstService from $175.00 to $190.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Finally, TD Securities increased their price target on shares of FirstService from $174.00 to $178.00 and gave the company a “hold” rating in a report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, FirstService currently has an average rating of “Moderate Buy” and a consensus target price of $189.33.

FirstService Stock Down 0.2 %

NASDAQ FSV opened at $178.87 on Friday. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 88.55 and a beta of 1.05. FirstService Co. has a 1-year low of $134.77 and a 1-year high of $181.23. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.23. The company has a 50 day moving average of $168.47 and a 200-day moving average of $160.17.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its earnings results on Thursday, July 25th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.10. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.28 billion. FirstService had a return on equity of 15.60% and a net margin of 1.73%. FirstService’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.37 EPS. On average, equities research analysts expect that FirstService Co. will post 4.31 earnings per share for the current fiscal year.

About FirstService

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.