255,916 Shares in Fiserv, Inc. $FISV Purchased by Cibc World Market Inc.

Key Points

• CIBC World Markets acquired 255,916 Fiserv shares valued at approximately $12.6 million, while institutional investors collectively own 90.98% of the company.
• Fiserv reported quarterly earnings of $1.84 per share and revenue of $4.96 billion, missing analyst estimates of $1.91 and $5.04 billion, respectively; revenue declined 4.1% year over year.
• Analysts maintain a consensus “Hold” rating with an average price target of $74.20, while Fiserv insiders—including its CFO and a director—recently purchased shares.

Cibc World Market Inc. acquired a new position in shares of Fiserv, Inc. (NASDAQ:FISV - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 255,916 shares of the business services provider's stock, valued at approximately $12,553,000.

Several other hedge funds and other institutional investors have also made changes to their positions in FISV. Oakworth Capital Inc. acquired a new stake in shares of Fiserv in the fourth quarter worth approximately $25,000. Private Wealth Asset Management LLC acquired a new position in Fiserv in the 4th quarter valued at $25,000. Kimelman & Baird LLC purchased a new position in Fiserv in the 4th quarter valued at $27,000. Goodman Advisory Group LLC purchased a new position in Fiserv in the 4th quarter valued at $27,000. Finally, Tripletail Wealth Management LLC acquired a new stake in Fiserv during the 4th quarter worth $27,000. Hedge funds and other institutional investors own 90.98% of the company's stock.

Fiserv Stock Up 0.7%

Shares of NASDAQ FISV opened at $52.96 on Tuesday. The company has a market capitalization of $28.16 billion, a P/E ratio of 10.17, a P/E/G ratio of 3.95 and a beta of 0.80. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.04 and a quick ratio of 1.04. The company has a 50 day simple moving average of $51.43 and a 200-day simple moving average of $55.76. Fiserv, Inc. has a 1 year low of $47.04 and a 1 year high of $139.94.

Fiserv (NASDAQ:FISV - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.07). The business had revenue of $4.96 billion during the quarter, compared to analysts' expectations of $5.04 billion. Fiserv had a return on equity of 15.80% and a net margin of 13.42%.The company's revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities research analysts predict that Fiserv, Inc. will post 7.27 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FISV. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Fiserv from $63.00 to $60.00 in a report on Monday, May 11th. B. Riley Financial dropped their price objective on shares of Fiserv from $69.00 to $66.00 and set a "neutral" rating for the company in a research note on Wednesday, May 6th. Truist Financial set a $53.00 price objective on shares of Fiserv and gave the company a "hold" rating in a report on Thursday. Rothschild & Co Redburn decreased their target price on shares of Fiserv from $50.00 to $40.00 and set a "sell" rating on the stock in a research note on Tuesday, May 12th. Finally, UBS Group set a $60.00 price target on Fiserv and gave the company a "neutral" rating in a research report on Friday, August 7th. Six analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $74.20.

Insider Buying and Selling at Fiserv

In related news, Director Lance M. Fritz acquired 10,000 shares of Fiserv stock in a transaction that occurred on Friday, August 7th. The shares were purchased at an average cost of $51.95 per share, for a total transaction of $519,500.00. Following the acquisition, the director owned 27,207 shares in the company, valued at approximately $1,413,403.65. This represents a 58.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Paul M. Todd bought 10,060 shares of the firm's stock in a transaction on Wednesday, June 17th. The stock was bought at an average cost of $49.70 per share, for a total transaction of $499,982.00. Following the transaction, the chief financial officer directly owned 184,107 shares of the company's stock, valued at $9,150,117.90. The trade was a 5.78% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.06% of the company's stock.

Fiserv Company Profile

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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