136,664 Shares of Fiserv, Inc. $FISV Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments bought 136,664 Fiserv shares in the third quarter, valued at approximately $6.17 million.
• Fiserv’s third-quarter adjusted EPS of $1.75 beat the $1.72 consensus, while revenue of $4.85 billion was in line but fell 1.3% year over year.
• Analysts hold a generally cautious view: the consensus rating is Hold, with an average price target of $63.11; 90.98% of shares are owned by institutional investors.

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Fiserv, Inc. (NASDAQ:FISV - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 136,664 shares of the business services provider's stock, valued at approximately $6,174,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FISV. William Mack & Associates Inc. bought a new position in Fiserv during the third quarter valued at approximately $26,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Fiserv during the second quarter worth about $30,000. Osterweis Capital Management Inc. bought a new stake in shares of Fiserv in the 2nd quarter worth approximately $32,000. Pinnacle Wealth Planning Services Inc. boosted its holdings in Fiserv by 49.3% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 854 shares of the business services provider's stock valued at $39,000 after acquiring an additional 282 shares in the last quarter. Finally, Caitlin John LLC purchased a new position in shares of Fiserv during the second quarter valued at about $45,000. 90.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Stephens initiated coverage on Fiserv in a research report on Tuesday, August 11th. They set an "equal weight" rating and a $57.00 price objective for the company. Susquehanna decreased their price target on shares of Fiserv from $91.00 to $85.00 and set a "positive" rating for the company in a research note on Friday, August 7th. Keefe, Bruyette & Woods lifted their price target on shares of Fiserv from $60.00 to $70.00 and gave the company an "outperform" rating in a research report on Wednesday. Barclays boosted their price objective on shares of Fiserv from $50.00 to $59.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Finally, Morgan Stanley upped their price objective on shares of Fiserv from $59.00 to $61.00 and gave the stock an "equal weight" rating in a report on Wednesday. Six analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, Fiserv presently has a consensus rating of "Hold" and an average target price of $63.11.

Fiserv Price Performance

Shares of NASDAQ:FISV opened at $62.74 on Friday. The business has a fifty day moving average price of $49.14 and a 200-day moving average price of $54.60. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $33.36 billion, a PE ratio of -8.46, a PEG ratio of 5.53 and a beta of 0.85. Fiserv, Inc. has a 1-year low of $43.87 and a 1-year high of $70.41.

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, topping analysts' consensus estimates of $1.72 by $0.03. Fiserv had a negative net margin of 18.91% and a positive return on equity of 15.76%. The company had revenue of $4.85 billion for the quarter, compared to analysts' expectations of $4.85 billion. The company's revenue was down 1.3% on a year-over-year basis. As a group, equities analysts expect that Fiserv, Inc. will post 7.26 EPS for the current fiscal year.

Fiserv News Summary

Here are the key news stories impacting Fiserv this week:

• Positive Sentiment: Fiserv reported third-quarter adjusted earnings of $1.75 per share, above the $1.72 analyst consensus. Revenue of $4.85 billion was in line with expectations, though it was down 1.3% year over year. Why Fiserv Stock Triumphed on Tuesday
• Positive Sentiment: Project Elevate and plans to cut 3,000 jobs while doubling the savings target to $1 billion are feeding hopes that management can improve efficiency and restore growth. The turnaround will take time, according to coverage of the results. Fiserv cuts 3,000 jobs and doubles savings target to $1bn
• Positive Sentiment: Several firms raised price targets, including KBW to $70 with an Outperform rating and RBC to $70 with an Outperform rating. Argus also upgraded the stock to Buy with a $72 target. Fiserv Stock Price Target Raised at Keefe, Bruyette & Woods
• Neutral Sentiment: Fiserv added Raj Seshadri to its board, bringing payments and data experience that may support its strategic priorities. Fiserv Adds Raj Seshadri to Board in Payments and Data Push
• Neutral Sentiment: Other analysts lifted targets but kept Hold or Neutral ratings, suggesting they see some recovery potential while remaining cautious about valuation and execution. Fiserv: Hold as Turnaround Progress Is Offset by Limited Upside and Execution Risks
• Negative Sentiment: Fiserv reported a goodwill impairment for the quarter, and the year-over-year revenue decline highlights that operational improvement has not yet translated into renewed top-line growth. Fiserv Reports Goodwill Impairment
• Negative Sentiment: Bank of America Securities maintained a Sell rating, underscoring that not all analysts are convinced the recovery is durable. Bank of America Securities Remains a Sell on Fiserv

Fiserv Profile

Fiserv, Inc is a global financial technology company that provides payment, banking, and commerce solutions to financial institutions, merchants, and other businesses. Its services support electronic payments, card processing, digital banking, account processing, fraud prevention, and related financial workflows.

The company's offerings include merchant acceptance and payments technology, issuer processing, digital banking platforms, core account-processing systems, electronic bill payment, and data-driven financial services.

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