Saudi Central Bank raised its position in shares of Fiserv, Inc. (NASDAQ:FISV – Free Report) by 6.5% during the 2nd quarter, Holdings Channel reports. The firm owned 288,627 shares of the business services provider’s stock after buying an additional 17,582 shares during the quarter. Saudi Central Bank’s holdings in Fiserv were worth $14,554,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of FISV. Private Wealth Asset Management LLC acquired a new position in Fiserv in the 4th quarter worth approximately $25,000. Kimelman & Baird LLC purchased a new stake in shares of Fiserv in the 4th quarter valued at $27,000. Goodman Advisory Group LLC acquired a new stake in shares of Fiserv in the fourth quarter worth $27,000. Tripletail Wealth Management LLC acquired a new position in Fiserv during the fourth quarter valued at $27,000. Finally, Godfrey Financial Associates Inc. purchased a new position in shares of Fiserv during the 4th quarter valued at about $29,000. 90.98% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, CFO Paul M. Todd purchased 10,060 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were purchased at an average cost of $49.70 per share, with a total value of $499,982.00. Following the purchase, the chief financial officer owned 184,107 shares of the company’s stock, valued at $9,150,117.90. This represents a 5.78% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lance M. Fritz acquired 10,000 shares of the business’s stock in a transaction on Friday, August 7th. The shares were purchased at an average price of $51.95 per share, with a total value of $519,500.00. Following the completion of the purchase, the director owned 27,207 shares in the company, valued at $1,413,403.65. This represents a 58.12% increase in their position. The SEC filing for this purchase provides additional information. 0.06% of the stock is owned by company insiders.
Fiserv Stock Up 0.5%
Fiserv (NASDAQ:FISV – Get Free Report) last announced its 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). Fiserv had a net margin of 13.42% and a return on equity of 15.80%. The business had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $5.04 billion. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, analysts anticipate that Fiserv, Inc. will post 7.26 EPS for the current fiscal year.
Analyst Ratings Changes
FISV has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their target price on Fiserv from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, August 7th. Citigroup restated a “neutral” rating and issued a $57.00 price objective (down from $60.00) on shares of Fiserv in a research report on Friday, July 10th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $53.00 target price on shares of Fiserv in a report on Monday, August 31st. Weiss Ratings cut shares of Fiserv from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, June 12th. Finally, Barclays set a $52.00 price target on shares of Fiserv and gave the stock an “equal weight” rating in a report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $74.20.
Read Our Latest Report on FISV
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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