Bank of America Corp DE Buys Shares of 2,206,340 Fiserv, Inc. $FISV

Key Points

• Bank of America acquired 2.21 million Fiserv shares worth approximately $108.2 million in the second quarter, giving it a 0.41% stake. Institutional investors collectively own 90.98% of Fiserv.
• Analysts remain cautious, with a consensus “Hold” rating and a $74.20 target price; 25 analysts rate the stock Hold, compared with six Buys and four Sells.
• Fiserv shares opened at $47.19, near their 52-week low, after the company missed quarterly earnings and revenue estimates. Earnings per share came in at $1.84 versus $1.91 expected, while revenue fell 4.1% year over year to $4.96 billion.

Bank of America Corp DE purchased a new stake in shares of Fiserv, Inc. (NASDAQ:FISV - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,206,340 shares of the business services provider's stock, valued at approximately $108,221,000. Bank of America Corp DE owned about 0.41% of Fiserv as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Fiserv during the second quarter worth $2,079,711,000. Geode Capital Management LLC bought a new position in Fiserv during the 4th quarter valued at about $854,215,000. Norges Bank purchased a new stake in shares of Fiserv in the fourth quarter worth approximately $555,964,000. Capital World Investors purchased a new stake in Fiserv in the fourth quarter worth $325,470,000. Finally, Barclays PLC purchased a new position in Fiserv in the 4th quarter worth about $276,237,000. Institutional investors own 90.98% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. The Goldman Sachs Group reiterated a "neutral" rating and set a $54.00 target price on shares of Fiserv in a report on Friday, August 7th. Cantor Fitzgerald restated a "neutral" rating and set a $53.00 price target on shares of Fiserv in a research note on Monday, August 31st. Truist Financial set a $53.00 price target on shares of Fiserv and gave the stock a "hold" rating in a report on Thursday, August 20th. Stephens restated an "equal weight" rating and issued a $57.00 target price on shares of Fiserv in a research note on Tuesday, August 11th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Fiserv from $70.00 to $65.00 and set an "outperform" rating for the company in a research report on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $74.20.

Fiserv Stock Down 4.3%

Fiserv stock opened at $47.19 on Friday. The stock has a 50-day simple moving average of $52.01 and a 200-day simple moving average of $54.53. The company has a market capitalization of $25.09 billion, a P/E ratio of 9.06, a PEG ratio of 3.71 and a beta of 0.80. Fiserv, Inc. has a fifty-two week low of $47.04 and a fifty-two week high of $133.37. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.04 and a current ratio of 1.04.

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

Insider Transactions at Fiserv

In related news, Director Lance Fritz bought 10,000 shares of the stock in a transaction dated Friday, August 7th. The stock was acquired at an average price of $51.95 per share, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Fiserv Company Profile

Fiserv, Inc is a global financial technology company that provides payments and financial services technology to businesses, financial institutions and consumers. Its offerings support electronic payments, merchant acquiring, account processing, digital banking, money movement and other transaction-related activities.

The company's products and platforms include Clover, which provides point-of-sale hardware, software and payment services for small and midsize businesses; Carat, which serves larger merchants; and technology for banks and credit unions, including core processing, online and mobile banking, card services, bill payment and fraud-management solutions.

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