IFP Advisors Inc raised its position in Fiserv, Inc. (NASDAQ:FISV – Free Report) by 92.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 333,245 shares of the business services provider’s stock after buying an additional 159,785 shares during the period. IFP Advisors Inc owned about 0.06% of Fiserv worth $15,056,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FISV. Burns Matteson Capital Management LLC purchased a new position in shares of Fiserv in the 3rd quarter valued at about $558,000. TD Waterhouse Canada Inc. raised its holdings in Fiserv by 28.2% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 96,523 shares of the business services provider’s stock worth $4,385,000 after purchasing an additional 21,227 shares during the period. Chemistry Wealth Management LLC raised its holdings in Fiserv by 69.1% in the 3rd quarter. Chemistry Wealth Management LLC now owns 14,023 shares of the business services provider’s stock worth $634,000 after purchasing an additional 5,729 shares during the period. V Square Quantitative Management LLC boosted its position in Fiserv by 11.3% during the third quarter. V Square Quantitative Management LLC now owns 17,460 shares of the business services provider’s stock worth $789,000 after purchasing an additional 1,772 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. boosted its position in Fiserv by 33.5% during the third quarter. Retirement Planning Co of New England Inc. now owns 39,663 shares of the business services provider’s stock worth $1,792,000 after purchasing an additional 9,961 shares in the last quarter. Hedge funds and other institutional investors own 90.98% of the company’s stock.
Fiserv Stock Performance
Shares of Fiserv stock opened at $47.55 on Friday. Fiserv, Inc. has a one year low of $43.87 and a one year high of $128.78. The company has a market cap of $25.29 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 4.74 and a beta of 0.80. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.04 and a current ratio of 1.04. The business’s 50 day moving average price is $49.44 and its 200 day moving average price is $52.76.
Fiserv (NASDAQ:FISV – Get Free Report) last issued its earnings results on Thursday, August 6th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.91 by ($0.07). Fiserv had a net margin of 13.42% and a return on equity of 15.80%. The company had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $5.04 billion. The business’s quarterly revenue was down 4.1% on a year-over-year basis. On average, research analysts predict that Fiserv, Inc. will post 7.25 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on FISV. BMO Capital Markets restated a “market perform” rating and set a $55.00 price objective (down from $60.00) on shares of Fiserv in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. lowered their target price on shares of Fiserv from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th. Wells Fargo & Company set a $56.00 target price on shares of Fiserv and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Keefe, Bruyette & Woods dropped their target price on shares of Fiserv from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, August 7th. Finally, TD Cowen reduced their target price on shares of Fiserv from $55.00 to $49.00 and set a “hold” rating for the company in a research report on Friday, October 9th. Five equities research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, Fiserv has an average rating of “Hold” and an average target price of $69.17.
Check Out Our Latest Stock Report on Fiserv
Insider Activity at Fiserv
In other Fiserv news, Director Lance Fritz acquired 10,000 shares of the firm’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 acquisition, the director owned 27,207 shares of the company’s stock, valued at approximately $1,413,403.65. The trade was a 58.12% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.06% of the company’s stock.
About Fiserv
Fiserv, Inc is a global financial technology company that provides payments and financial services technology to banks, credit unions, merchants and other businesses. Its offerings support electronic payments, account processing, digital banking, merchant acquiring, fraud prevention and related financial services operations.
The company’s products and platforms include Clover, a point-of-sale and business management system for small and midsize businesses; Carat, which provides enterprise commerce and payment solutions; and services that help financial institutions manage accounts, digital channels, card programs, payments and data.
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