California State Teachers Retirement System Purchases 40,446,580 Shares of Fiserv, Inc. $FISV

Key Points

• California State Teachers Retirement System increased its Fiserv stake by 4,348.7%, acquiring 40.45 million additional shares. It now owns 41.38 million shares, or 7.78% of the company, valued at approximately $2.03 billion.
• Institutional investors own 90.98% of Fiserv, while several other funds also expanded their positions. Fiserv’s CFO and a director separately purchased company shares.
• Fiserv reported quarterly revenue of $4.96 billion and EPS of $1.84, both below analyst expectations, with revenue down 4.1% year over year. Analysts maintain a consensus “Hold” rating and an average price target of $74.20.

California State Teachers Retirement System grew its holdings in shares of Fiserv, Inc. (NASDAQ:FISV - Free Report) by 4,348.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,376,667 shares of the business services provider's stock after acquiring an additional 40,446,580 shares during the quarter. California State Teachers Retirement System owned 7.78% of Fiserv worth $2,029,526,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of FISV. Paralel Advisors LLC bought a new stake in Fiserv in the second quarter valued at $2,031,000. Readystate Asset Management LP grew its position in Fiserv by 466.8% during the 2nd quarter. Readystate Asset Management LP now owns 146,782 shares of the business services provider's stock valued at $7,200,000 after purchasing an additional 120,885 shares during the last quarter. Ameritas Advisory Services LLC raised its holdings in Fiserv by 632.8% in the 2nd quarter. Ameritas Advisory Services LLC now owns 28,777 shares of the business services provider's stock worth $1,412,000 after acquiring an additional 24,850 shares during the last quarter. Operose Advisors LLC lifted its holdings in shares of Fiserv by 9.2% during the second quarter. Operose Advisors LLC now owns 7,635 shares of the business services provider's stock valued at $374,000 after purchasing an additional 641 shares in the last quarter. Finally, Saudi Central Bank boosted its holdings in shares of Fiserv by 6.5% during the 2nd quarter. Saudi Central Bank now owns 288,627 shares of the business services provider's stock valued at $14,554,000 after acquiring an additional 17,582 shares during the last quarter. 90.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FISV. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $65.00 price objective (down from $75.00) on shares of Fiserv in a report on Friday, August 7th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Fiserv in a report on Wednesday. Wells Fargo & Company set a $56.00 target price on shares of Fiserv and gave the stock an "equal weight" rating in a report on Thursday, July 9th. BNP Paribas Exane downgraded Fiserv from a "neutral" rating to an "underperform" rating and set a $46.00 target price on the stock. in a research report on Friday, June 5th. Finally, Truist Financial set a $53.00 target price on shares of Fiserv and gave the stock a "hold" rating in a report on Thursday, August 20th. Six analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $74.20.

Fiserv Stock Up 5.4%

NASDAQ:FISV opened at $51.58 on Friday. The firm has a market cap of $27.43 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 3.68 and a beta of 0.80. The company has a 50-day moving average of $52.22 and a 200 day moving average of $54.93. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.04 and a quick ratio of 1.04. Fiserv, Inc. has a 1-year low of $47.04 and a 1-year high of $135.88.

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

Insider Activity at Fiserv

In other Fiserv news, CFO Paul Todd acquired 10,060 shares of the firm's stock in a transaction on Wednesday, June 17th. The stock was acquired at an average cost of $49.70 per share, for a total transaction of $499,982.00. Following the purchase, the chief financial officer 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lance Fritz acquired 10,000 shares of the business's 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 purchase, the director directly 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. Additional details regarding this purchase are available in the official SEC disclosure. 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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