Meeder Asset Management Inc. bought a new position in shares of Fiserv, Inc. (NASDAQ:FISV – Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 14,023 shares of the business services provider’s stock, valued at approximately $688,000.
A number of other institutional investors have also added to or reduced their stakes in FISV. Vanguard Group Inc. bought a new stake in Fiserv during the 4th quarter valued at $3,507,063,000. Dodge & Cox purchased a new position in Fiserv in the fourth quarter valued at about $3,323,210,000. BlackRock Inc. purchased a new stake in shares of Fiserv during the second quarter valued at about $2,079,711,000. State Street Corp purchased a new stake in shares of Fiserv during the fourth quarter valued at about $1,588,663,000. Finally, Geode Capital Management LLC bought a new stake in shares of Fiserv in the 4th quarter valued at about $854,215,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts recently commented on the stock. Truist Financial reduced their price objective on shares of Fiserv from $58.00 to $52.00 and set a “hold” rating for the company in a research note on Friday, July 24th. Keefe, Bruyette & Woods reduced their price target on Fiserv from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. BMO Capital Markets reiterated a “market perform” rating and set a $55.00 price objective (down from $60.00) on shares of Fiserv in a report on Wednesday, July 22nd. B. Riley Financial lowered their price objective on Fiserv from $69.00 to $66.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. Finally, Weiss Ratings downgraded Fiserv from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, June 12th. Six equities research analysts have rated the stock with a Buy rating, twenty-six have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $74.17.
Insider Activity
In other news, CFO Paul M. Todd bought 10,060 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was purchased at an average price of $49.70 per share, with a total value of $499,982.00. Following the completion of the acquisition, the chief financial officer directly owned 184,107 shares of the company’s stock, valued at $9,150,117.90. This trade represents a 5.78% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lance M. Fritz bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average price of $51.95 per share, for a total transaction of $519,500.00. Following the transaction, the director owned 27,207 shares of the company’s stock, valued at $1,413,403.65. The trade was a 58.12% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.06% of the company’s stock.
Fiserv Stock Down 0.9%
NASDAQ:FISV opened at $51.72 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.99. Fiserv, Inc. has a twelve month low of $47.04 and a twelve month high of $140.42. The company has a market cap of $27.50 billion, a PE ratio of 9.93, a P/E/G ratio of 4.09 and a beta of 0.80. The company’s 50 day moving average is $51.42 and its two-hundred day moving average is $56.04.
Fiserv (NASDAQ:FISV – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.84 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.07). Fiserv had a return on equity of 15.80% and a net margin of 13.42%.The company had revenue of $4.96 billion for the quarter, compared to analyst estimates of $5.04 billion. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. Analysts anticipate that Fiserv, Inc. will post 7.27 EPS for the current year.
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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