Puzo Michael J acquired a new position in shares of Fiserv, Inc. (NASDAQ:FISV – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,110 shares of the business services provider’s stock, valued at approximately $545,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. WFA of San Diego LLC acquired a new stake in Fiserv during the 2nd quarter valued at approximately $55,000. Oakworth Capital Inc. acquired a new position in shares of Fiserv in the 4th quarter worth approximately $25,000. Private Wealth Asset Management LLC bought a new stake in shares of Fiserv in the 4th quarter valued at $25,000. Goodman Advisory Group LLC bought a new stake in shares of Fiserv in the 4th quarter valued at $27,000. Finally, Tripletail Wealth Management LLC acquired a new stake in shares of Fiserv during the fourth quarter worth $27,000. 90.98% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts recently issued reports on the stock. BNP Paribas Exane lowered shares of Fiserv from a “neutral” rating to an “underperform” rating and set a $46.00 target price on the stock. in a report on Friday, June 5th. Weiss Ratings downgraded Fiserv from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, June 12th. The Goldman Sachs Group reissued a “neutral” rating and issued a $54.00 price objective on shares of Fiserv in a research note on Friday, August 7th. Keefe, Bruyette & Woods cut their target price on Fiserv from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Finally, Morgan Stanley set a $59.00 target price on Fiserv in a report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, twenty-six have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $74.17.
Insider Activity
In other Fiserv news, 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 acquired 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 $1,413,403.65. The trade was a 58.12% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Paul M. Todd acquired 10,060 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was acquired at an average cost of $49.70 per share, for a total transaction of $499,982.00. Following the transaction, the chief financial officer owned 184,107 shares of the company’s stock, valued at approximately $9,150,117.90. The trade was a 5.78% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.06% of the stock is currently owned by insiders.
Fiserv Stock Performance
FISV opened at $52.08 on Thursday. Fiserv, Inc. has a 1-year low of $47.04 and a 1-year high of $140.42. The company has a market cap of $27.69 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 3.88 and a beta of 0.80. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.99. The company’s fifty day moving average price is $51.39 and its two-hundred day moving average price is $55.96.
Fiserv (NASDAQ:FISV – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 13.42% and a return on equity of 15.80%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. On average, analysts expect that Fiserv, Inc. will post 7.27 EPS for the current fiscal 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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