New England Research & Management Inc. bought a new stake in Fiserv, Inc. (NASDAQ:FISV – Get Rating) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,601 shares of the business services provider's stock, valued at approximately $765,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. LPL Financial LLC increased its position in Fiserv by 9.6% during the fourth quarter. LPL Financial LLC now owns 230,191 shares of the business services provider's stock worth $23,892,000 after buying an additional 20,103 shares during the last quarter. Alliancebernstein L.P. increased its position in Fiserv by 3.5% during the fourth quarter. Alliancebernstein L.P. now owns 864,441 shares of the business services provider's stock worth $89,720,000 after buying an additional 28,943 shares during the last quarter. Guggenheim Capital LLC increased its position in Fiserv by 7.3% during the fourth quarter. Guggenheim Capital LLC now owns 212,834 shares of the business services provider's stock worth $22,090,000 after buying an additional 14,490 shares during the last quarter. Bayesian Capital Management LP bought a new stake in shares of Fiserv during the fourth quarter worth approximately $612,000. Finally, Greenwich Investment Management Inc. bought a new stake in shares of Fiserv during the fourth quarter worth approximately $260,000. Institutional investors and hedge funds own 94.01% of the company's stock.
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Insider Buying and Selling at Fiserv
In other Fiserv news, COO Guy Chiarello sold 15,000 shares of the firm's stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $100.00, for a total value of $1,500,000.00. Following the completion of the transaction, the chief operating officer now directly owns 216,864 shares of the company's stock, valued at approximately $21,686,400. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Harry Disimone sold 2,706 shares of Fiserv stock in a transaction on Monday, September 12th. The shares were sold at an average price of $108.72, for a total transaction of $294,196.32. Following the completion of the sale, the director now directly owns 12,947 shares of the company's stock, valued at approximately $1,407,597.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Guy Chiarello sold 15,000 shares of Fiserv stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $100.00, for a total transaction of $1,500,000.00. Following the sale, the chief operating officer now directly owns 216,864 shares of the company's stock, valued at $21,686,400. The disclosure for this sale can be found here. Insiders sold a total of 51,706 shares of company stock valued at $5,366,896 in the last three months. Company insiders own 1.00% of the company's stock.
Fiserv Stock Down 1.4 %
NASDAQ:FISV traded down $1.35 on Thursday, hitting $94.82. The stock had a trading volume of 45,155 shares, compared to its average volume of 4,364,629. The firm's fifty day simple moving average is $104.32 and its two-hundred day simple moving average is $99.48. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.05 and a current ratio of 1.05. Fiserv, Inc. has a 1 year low of $87.03 and a 1 year high of $111.84. The stock has a market cap of $60.64 billion, a P/E ratio of 31.22, a price-to-earnings-growth ratio of 1.09 and a beta of 0.88.
Fiserv (NASDAQ:FISV – Get Rating) last released its quarterly earnings data on Tuesday, July 26th. The business services provider reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.02. Fiserv had a net margin of 11.92% and a return on equity of 12.40%. The business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same period in the previous year, the business earned $1.37 EPS. Fiserv's revenue was up 9.8% compared to the same quarter last year. Analysts predict that Fiserv, Inc. will post 6.49 earnings per share for the current year.
Analyst Ratings Changes
A number of brokerages have recently issued reports on FISV. Truist Financial reduced their price objective on Fiserv from $105.00 to $95.00 and set a "hold" rating for the company in a report on Thursday, June 30th. Mizuho boosted their price objective on Fiserv from $140.00 to $145.00 and gave the stock a "buy" rating in a report on Monday, August 1st. Wells Fargo & Company boosted their price objective on Fiserv from $100.00 to $107.00 and gave the stock an "equal weight" rating in a report on Thursday, September 8th. Morgan Stanley boosted their price objective on Fiserv from $98.00 to $106.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 27th. Finally, Evercore ISI upgraded Fiserv from an "in-line" rating to an "outperform" rating and boosted their price target for the company from $101.00 to $149.00 in a research note on Thursday, August 11th. Ten investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $124.54.
About Fiserv
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Fiserv, Inc, together with its subsidiaries, provides payment and financial services technology worldwide. The company operates through Acceptance, Fintech, and Payments segments. The Acceptance segment provides point-of-sale merchant acquiring and digital commerce services; mobile payment services; security and fraud protection products; Carat, an omnichannel commerce solution; Clover, a cloud-based point-of-sale and business management platform; and Clover Connect, an independent software vendors platform.
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