Edgestream Partners L.P. increased its stake in shares of Fiserv, Inc. (NASDAQ:FISV – Free Report) by 26.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,099 shares of the business services provider’s stock after purchasing an additional 16,831 shares during the quarter. Edgestream Partners L.P.’s holdings in Fiserv were worth $4,525,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. RBF Capital LLC grew its holdings in shares of Fiserv by 400.0% during the first quarter. RBF Capital LLC now owns 20,000 shares of the business services provider’s stock worth $1,116,000 after purchasing an additional 16,000 shares during the last quarter. Bull Harbor Capital LLC bought a new position in Fiserv in the 1st quarter valued at approximately $439,000. South Dakota Investment Council raised its holdings in Fiserv by 21.7% in the 1st quarter. South Dakota Investment Council now owns 214,578 shares of the business services provider’s stock valued at $11,973,000 after buying an additional 38,311 shares during the last quarter. Sunbelt Securities Inc. boosted its position in Fiserv by 10.4% during the 1st quarter. Sunbelt Securities Inc. now owns 2,290 shares of the business services provider’s stock worth $128,000 after buying an additional 215 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in Fiserv by 41.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 9,903 shares of the business services provider’s stock worth $553,000 after buying an additional 2,915 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.
Fiserv Stock Performance
NASDAQ:FISV opened at $53.94 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.06 and a current ratio of 1.06. Fiserv, Inc. has a fifty-two week low of $47.04 and a fifty-two week high of $141.38. The company has a 50 day simple moving average of $51.97 and a two-hundred day simple moving average of $57.22. The company has a market capitalization of $28.76 billion, a PE ratio of 9.14, a P/E/G ratio of 1.52 and a beta of 0.82.
Insiders Place Their Bets
In other news, CFO Paul M. Todd bought 10,060 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were acquired at an average price of $49.70 per share, for a total transaction of $499,982.00. Following the completion of the acquisition, the chief financial officer directly owned 184,107 shares in the company, valued at approximately $9,150,117.90. This represents a 5.78% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.06% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several brokerages have issued reports on FISV. Cantor Fitzgerald restated a “neutral” rating and issued a $53.00 price target (down from $62.00) on shares of Fiserv in a research report on Wednesday, July 22nd. Raymond James Financial reiterated a “market perform” rating on shares of Fiserv in a report on Tuesday, July 7th. Truist Financial reduced their price objective on shares of Fiserv from $58.00 to $52.00 and set a “hold” rating on the stock in a research note on Friday, July 24th. Robert W. Baird set a $78.00 price objective on Fiserv in a report on Wednesday, May 6th. Finally, UBS Group set a $65.00 target price on Fiserv and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Six equities research analysts have rated the stock with a Buy rating, twenty-six have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $76.57.
Read Our Latest Report on Fiserv
About Fiserv
Fiserv, Inc, founded in 1984 and headquartered in Brookfield, Wisconsin, is a global provider of financial services technology. The company develops and delivers integrated solutions for payments, processing, risk and compliance, customer and channel management, and business insights and optimization. Serving thousands of clients, Fiserv supports banks, credit unions, securities broker-dealers, leasing and finance companies, and retailers.
Fiserv’s core offerings include account processing systems that automate deposit, lending and transaction processing for financial institutions, as well as digital banking platforms that enable mobile and online banking services.
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