Amundi Decreases Stock Holdings in Fiserv, Inc. $FISV

Key Points

• Amundi cut its Fiserv stake by 31.6% in the second quarter, selling 1.91 million shares and retaining 4.14 million shares valued at approximately $202.9 million. Institutional investors and hedge funds collectively own 90.98% of the company.
• Fiserv’s latest quarterly results fell short of expectations: adjusted EPS was $1.84 versus the $1.91 consensus, while revenue of $4.96 billion declined 4.1% year over year and missed estimates.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $74.20. Shares opened at $50.86, near the lower end of their 52-week range of $47.04 to $136.60.

Amundi lessened its holdings in Fiserv, Inc. (NASDAQ:FISV - Free Report) by 31.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,136,087 shares of the business services provider's stock after selling 1,912,672 shares during the quarter. Amundi owned approximately 0.78% of Fiserv worth $202,875,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FISV. Handelsbanken Fonder AB increased its position in Fiserv by 16.9% during the second quarter. Handelsbanken Fonder AB now owns 176,106 shares of the business services provider's stock worth $8,638,000 after buying an additional 25,477 shares during the period. Blume Capital Management Inc. acquired a new stake in shares of Fiserv in the fourth quarter valued at approximately $4,226,000. Mission Wealth Management LP purchased a new position in shares of Fiserv during the fourth quarter worth approximately $696,000. Renaissance Technologies LLC grew its position in shares of Fiserv by 437.5% during the first quarter. Renaissance Technologies LLC now owns 668,227 shares of the business services provider's stock worth $37,287,000 after acquiring an additional 543,900 shares during the last quarter. Finally, Stanley Capital Management LLC acquired a new position in shares of Fiserv in the 2nd quarter valued at $6,159,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Fiserv

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

Fiserv Price Performance

Shares of NASDAQ:FISV opened at $50.86 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.99. The company has a market cap of $27.05 billion, a P/E ratio of 9.76, a PEG ratio of 3.99 and a beta of 0.80. Fiserv, Inc. has a 52 week low of $47.04 and a 52 week high of $136.60. The company has a 50-day moving average price of $52.34 and a 200 day moving average price of $55.13.

Fiserv (NASDAQ:FISV - Get Free Report) last released its earnings results on Thursday, August 6th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.91 by ($0.07). Fiserv had a return on equity of 15.80% and a net margin of 13.42%.The business had revenue of $4.96 billion for the quarter, compared to analyst estimates of $5.04 billion. The company's revenue for the quarter was down 4.1% on a year-over-year basis. Research analysts predict that Fiserv, Inc. will post 7.26 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on FISV. UBS Group set a $60.00 price target on shares of Fiserv and gave the company a "neutral" rating in a research report on Friday, August 7th. Wells Fargo & Company set a $56.00 price objective on shares of Fiserv and gave the company an "equal weight" rating in a research note on Thursday, July 9th. Loop Capital reduced their target price on shares of Fiserv from $63.00 to $62.00 and set a "hold" rating for the company in a report on Friday, May 15th. JPMorgan Chase & Co. decreased their target price on shares of Fiserv from $62.00 to $60.00 and set a "neutral" rating for the company in a research note on Friday, August 7th. Finally, Stephens reissued an "equal weight" rating and set a $57.00 price target on shares of Fiserv in a report on Tuesday, August 11th. Six analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $74.20.

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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