Paralel Advisors LLC purchased a new stake in Fiserv, Inc. (NASDAQ:FISV – Free Report) during the second quarter, HoldingsChannel.com reports. The firm purchased 41,408 shares of the business services provider’s stock, valued at approximately $2,031,000.
Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. purchased a new position in shares of Fiserv in the 4th quarter worth $3,507,063,000. Dodge & Cox purchased a new stake in Fiserv during the fourth quarter valued at about $3,323,210,000. BlackRock Inc. purchased a new stake in Fiserv during the second quarter valued at about $2,079,711,000. State Street Corp acquired a new stake in Fiserv during the fourth quarter worth about $1,588,663,000. Finally, Geode Capital Management LLC purchased a new position in shares of Fiserv in the 4th quarter worth about $854,215,000. 90.98% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the company. Loop Capital reduced their price objective on Fiserv from $63.00 to $62.00 and set a “hold” rating on the stock in a research note on Friday, May 15th. Robert W. Baird set a $78.00 target price on shares of Fiserv in a report on Wednesday, May 6th. Stephens reaffirmed an “equal weight” rating and set a $57.00 price target on shares of Fiserv in a research report on Tuesday, August 11th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $65.00 price target (down from $75.00) on shares of Fiserv in a report on Friday, August 7th. Finally, Raymond James Financial reissued a “market perform” rating on shares of Fiserv in a research report on Tuesday, July 7th. Six investment analysts have rated the stock with a Buy rating, twenty-six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $74.20.
Insider Activity
In other news, CFO Paul M. Todd purchased 10,060 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were acquired at an average cost of $49.70 per share, with a total value of $499,982.00. Following the transaction, the chief financial officer owned 184,107 shares in the company, valued at approximately $9,150,117.90. The trade was a 5.78% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lance M. Fritz purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were purchased at an average cost of $51.95 per share, for a total transaction of $519,500.00. Following the completion of the transaction, the director owned 27,207 shares in the company, valued at approximately $1,413,403.65. This represents a 58.12% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.06% of the company’s stock.
Fiserv Trading Down 1.3%
FISV opened at $51.38 on Friday. Fiserv, Inc. has a 12-month low of $47.04 and a 12-month high of $140.19. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $27.32 billion, a PE ratio of 9.86, a P/E/G ratio of 3.91 and a beta of 0.80. The firm’s fifty day moving average price is $51.36 and its 200 day moving average price is $55.87.
Fiserv (NASDAQ:FISV – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.07). The company had revenue of $4.96 billion for the quarter, compared to analyst estimates of $5.04 billion. Fiserv had a return on equity of 15.80% and a net margin of 13.42%.Fiserv’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, research analysts expect that Fiserv, Inc. will post 7.27 EPS for the current fiscal year.
Fiserv Company Profile
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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