Commerce Bank Buys Shares of 199,767 Fiserv, Inc. $FISV

Key Points

• Commerce Bank acquired 199,767 Fiserv shares in the second quarter, valued at approximately $9.8 million. Institutional investors and hedge funds own 90.98% of Fiserv’s outstanding stock.
• Analyst sentiment remains cautious: Fiserv has a consensus “Hold” rating and a $74.20 average price target, while several firms recently downgraded the stock or lowered their targets.
• Fiserv’s latest quarterly results fell short of expectations, with adjusted EPS of $1.84 versus $1.91 expected and revenue of $4.96 billion versus $5.04 billion forecast; revenue declined 4.1% year over year.

Commerce Bank purchased a new position in Fiserv, Inc. (NASDAQ:FISV - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 199,767 shares of the business services provider's stock, valued at approximately $9,799,000.

A number of other large investors have also made changes to their positions in FISV. WFA of San Diego LLC purchased a new position in Fiserv during the 2nd quarter worth $55,000. Oakworth Capital Inc. purchased a new stake in Fiserv in the fourth quarter valued at about $25,000. Private Wealth Asset Management LLC acquired a new stake in Fiserv in the fourth quarter worth about $25,000. Goodman Advisory Group LLC acquired a new stake in Fiserv in the fourth quarter worth about $27,000. Finally, Tripletail Wealth Management LLC purchased a new stake in shares of Fiserv during the fourth quarter worth about $27,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. B. Riley Financial cut their price objective on shares of Fiserv from $69.00 to $66.00 and set a "neutral" rating on the stock in a report on Wednesday, May 6th. BNP Paribas Exane cut shares of Fiserv from a "neutral" rating to an "underperform" rating and set a $46.00 target price for the company. in a research note on Friday, June 5th. UBS Group set a $60.00 target price on shares of Fiserv and gave the stock a "neutral" rating in a research report on Friday, August 7th. Zacks Research lowered shares of Fiserv from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 19th. Finally, Barclays set a $52.00 price target on shares of Fiserv and gave the stock an "equal weight" rating in a report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $74.20.

Insiders Place Their Bets

In other Fiserv news, CFO Paul M. Todd bought 10,060 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 184,107 shares of the company's stock, valued at approximately $9,150,117.90. This trade represents a 5.78% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lance M. Fritz purchased 10,000 shares of the stock in a transaction on Friday, August 7th. The stock was acquired at an average cost of $51.95 per share, for a total transaction of $519,500.00. Following the completion of the acquisition, the director owned 27,207 shares of the company's stock, valued at $1,413,403.65. The trade was a 58.12% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.06% of the stock is owned by corporate insiders.

Fiserv Stock Performance

Fiserv stock opened at $52.58 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.99. Fiserv, Inc. has a 52 week low of $47.04 and a 52 week high of $140.09. The company has a market capitalization of $27.96 billion, a price-to-earnings ratio of 10.09, a price-to-earnings-growth ratio of 3.95 and a beta of 0.80. The stock has a 50-day moving average price of $51.33 and a 200 day moving average price of $55.80.

Fiserv (NASDAQ:FISV - Get Free Report) last issued its earnings results on Thursday, August 6th. The business services provider reported $1.84 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 firm had revenue of $4.96 billion during the quarter, compared to analysts' expectations of $5.04 billion. The company's quarterly revenue was down 4.1% compared to the same quarter last year. Sell-side analysts anticipate that Fiserv, Inc. will post 7.27 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source