StoneRidge PMG Advisors LLC acquired a new position in shares of Fiserv, Inc. (NASDAQ:FISV – Free Report) during the third quarter, Holdings Channel reports. The institutional investor acquired 16,104 shares of the business services provider’s stock, valued at approximately $728,000.
Several other hedge funds have also modified their holdings of FISV. Hohimer Wealth Management LLC acquired a new stake in Fiserv in the 3rd quarter valued at about $937,000. University of Texas Texas AM Investment Management Co. boosted its stake in shares of Fiserv by 444.1% in the 3rd quarter. University of Texas Texas AM Investment Management Co. now owns 3,455 shares of the business services provider’s stock valued at $156,000 after buying an additional 2,820 shares during the period. Ethic Inc. boosted its stake in shares of Fiserv by 7.0% in the 3rd quarter. Ethic Inc. now owns 46,283 shares of the business services provider’s stock valued at $2,091,000 after buying an additional 3,031 shares during the period. Pictet Asset Management Holding SA grew its position in shares of Fiserv by 28.6% during the third quarter. Pictet Asset Management Holding SA now owns 504,877 shares of the business services provider’s stock worth $22,810,000 after buying an additional 112,405 shares in the last quarter. Finally, Cannon Capital Management Inc. grew its position in shares of Fiserv by 3.3% during the third quarter. Cannon Capital Management Inc. now owns 19,094 shares of the business services provider’s stock worth $863,000 after buying an additional 607 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.
Fiserv News Summary
Here are the key news stories impacting Fiserv this week:
- Positive Sentiment: Fiserv reported quarterly EPS of $1.75, topping the $1.72 consensus estimate; revenue of $4.85 billion matched expectations. Shares subsequently bounced, and coverage highlighted Project Elevate as support for an undervaluation thesis. Article: Fiserv Shares Gap Up After Better-Than-Expected Earnings Article: Fiserv Rebounds on Project Elevate
- Positive Sentiment: KBW reaffirmed its Buy rating and raised its price target. Citigroup and RBC also issued positive forecasts, adding support to the bullish view. Article: KBW Reaffirms Buy Rating Article: Citigroup Forecast Article: RBC Forecast
- Neutral Sentiment: Fiserv added Raj Seshadri to its board, a move tied to its payments and data focus. UBS raised its target to $68 but kept a Neutral rating. Article: Fiserv Adds Raj Seshadri to Board
- Negative Sentiment: Revenue declined 1.3% year over year, and analyst opinion remains divided: Bank of America maintained a Sell rating, while B. Riley kept its Hold rating. Article: Bank of America Maintains Sell Rating Article: B. Riley Maintains Hold Rating
Fiserv Price Performance
FISV stock opened at $62.88 on Monday. The business has a 50 day moving average price of $49.34 and a 200 day moving average price of $54.59. The stock has a market cap of $33.46 billion, a price-to-earnings ratio of -8.47, a PEG ratio of 5.60 and a beta of 0.85. Fiserv, Inc. has a fifty-two week low of $43.87 and a fifty-two week high of $70.41. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.22.
Fiserv (NASDAQ:FISV – Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.03. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.85 billion. Fiserv had a positive return on equity of 15.76% and a negative net margin of 18.91%. Fiserv’s revenue for the quarter was down 1.3% compared to the same quarter last year. Equities research analysts anticipate that Fiserv, Inc. will post 7.27 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. Royal Bank Of Canada upped their target price on shares of Fiserv from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 4th. Barclays lifted their price target on shares of Fiserv from $50.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 4th. B. Riley Financial reiterated a “neutral” rating and set a $60.00 price target (up from $51.00) on shares of Fiserv in a report on Wednesday, November 4th. Susquehanna dropped their price objective on shares of Fiserv from $91.00 to $85.00 and set a “positive” rating on the stock in a research report on Friday, August 7th. Finally, Morgan Stanley raised their price objective on shares of Fiserv from $59.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, November 4th. Six research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $63.11.
View Our Latest Stock Report on Fiserv
Fiserv Company Profile
Fiserv is a financial technology company that provides payment and financial services technology to banks, credit unions, businesses and merchants. Its offerings include payment processing, digital banking, account processing, debit and credit card services, and tools that help financial institutions manage customer accounts and transactions.
For merchants, Fiserv offers Clover, a platform that combines point-of-sale hardware and software with payment acceptance and business management tools.
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