Bank of Nova Scotia purchased a new stake in Fiserv, Inc. (NASDAQ:FISV - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 67,972 shares of the business services provider's stock, valued at approximately $3,334,000.
Other large investors also recently made changes to their positions in the company. Handelsbanken Fonder AB grew its stake in Fiserv by 16.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 176,106 shares of the business services provider's stock valued at $8,638,000 after purchasing an additional 25,477 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of Fiserv in the 4th quarter worth about $1,996,000. Strs Ohio purchased a new position in shares of Fiserv in the 4th quarter worth about $11,255,000. Vanguard Group Inc. bought a new position in Fiserv during the fourth quarter valued at about $3,507,063,000. Finally, North Star Investment Management Corp. purchased a new stake in Fiserv during the fourth quarter worth about $1,098,000. Institutional investors own 90.98% of the company's stock.
Fiserv Price Performance
Fiserv stock opened at $52.44 on Wednesday. The stock has a market cap of $27.89 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 3.98 and a beta of 0.80. 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 business has a 50-day simple moving average of $51.49 and a 200 day simple moving average of $55.71. Fiserv, Inc. has a 52 week low of $47.04 and a 52 week high of $138.85.
Fiserv (NASDAQ:FISV - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.91 by ($0.07). Fiserv had a net margin of 13.42% and a return on equity of 15.80%. The business had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $5.04 billion. The company's revenue was down 4.1% on a year-over-year basis. On average, research analysts forecast that Fiserv, Inc. will post 7.27 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Lance M. Fritz bought 10,000 shares of the business's stock in a transaction that occurred on Friday, August 7th. The stock was bought at an average cost of $51.95 per share, for a total transaction of $519,500.00. Following the completion of the transaction, the director owned 27,207 shares of the company's stock, valued at approximately $1,413,403.65. The trade was a 58.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Paul M. Todd acquired 10,060 shares of Fiserv stock in a transaction dated Wednesday, June 17th. The shares were purchased at an average price of $49.70 per share, for a total transaction of $499,982.00. Following the completion of the transaction, the chief financial officer directly owned 184,107 shares in the company, valued at approximately $9,150,117.90. The trade was a 5.78% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.06% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the stock. Robert W. Baird set a $78.00 price target on shares of Fiserv in a research note on Wednesday, May 6th. BNP Paribas Exane downgraded Fiserv from a "neutral" rating to an "underperform" rating and set a $46.00 price objective on the stock. in a research note on Friday, June 5th. Cantor Fitzgerald reissued a "neutral" rating and issued a $53.00 target price (down from $62.00) on shares of Fiserv in a research report on Wednesday, July 22nd. The Goldman Sachs Group restated a "neutral" rating and issued a $54.00 target price on shares of Fiserv in a research note on Friday, August 7th. Finally, Morgan Stanley set a $59.00 price target on Fiserv in a research report on Friday, August 7th. Six research 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $74.20.
Check Out Our Latest Research Report on Fiserv
Fiserv Company Profile
(
Free Report)
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.
See Also
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