Corient Private Wealth LP Decreases Stock Holdings in Fiserv, Inc. $FISV

Key Points

• Corient Private Wealth reduced its Fiserv stake by 29.5% in the second quarter, selling 55,345 shares and retaining 131,997 shares valued at approximately $6.47 million. Institutional investors and hedge funds collectively own 90.98% of Fiserv.
• Fiserv shares opened at $47.19, down 4.3%, after the company reported quarterly EPS of $1.84 versus the $1.91 consensus estimate and revenue of $4.96 billion, down 4.1% year over year.
• Analyst sentiment remains mostly cautious, with a consensus rating of “Hold” and an average price target of $74.20; meanwhile, director Lance Fritz purchased 10,000 shares worth $519,500.

Corient Private Wealth LP lessened its position in shares of Fiserv, Inc. (NASDAQ:FISV - Free Report) by 29.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 131,997 shares of the business services provider's stock after selling 55,345 shares during the quarter. Corient Private Wealth LP's holdings in Fiserv were worth $6,474,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in FISV. Handelsbanken Fonder AB boosted its position in Fiserv by 16.9% during 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. Renaissance Technologies LLC increased its stake in shares of Fiserv by 437.5% in 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. Stanley Capital Management LLC acquired a new position in Fiserv in the second quarter worth approximately $6,159,000. BlackRock Inc. acquired a new stake in shares of Fiserv in the 2nd quarter valued at $2,079,711,000. Finally, USS Investment Management Ltd acquired a new stake in shares of Fiserv in the fourth quarter worth about $6,437,000. 90.98% of the stock is owned by institutional investors and hedge funds.

Fiserv Stock Down 4.3%

NASDAQ:FISV opened at $47.19 on Friday. Fiserv, Inc. has a twelve month low of $47.04 and a twelve month high of $133.37. The firm has a market capitalization of $25.09 billion, a price-to-earnings ratio of 9.06, a price-to-earnings-growth ratio of 3.71 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 stock's 50 day moving average price is $52.01 and its two-hundred day moving average price is $54.53.

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 the consensus estimate of $1.91 by ($0.07). Fiserv had a net margin of 13.42% and a return on equity of 15.80%. The company had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $5.04 billion. The company's quarterly 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 fiscal year.

Insider Activity at Fiserv

In other news, Director Lance Fritz acquired 10,000 shares of the business's stock in a transaction that occurred on Friday, August 7th. The stock was acquired at an average price of $51.95 per share, with a total value of $519,500.00. Following the completion of the transaction, the director directly owned 27,207 shares of the company's stock, valued at $1,413,403.65. This trade represents a 58.12% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

FISV has been the subject of a number of research reports. BNP Paribas Exane downgraded shares of Fiserv from a "neutral" rating to an "underperform" rating and set a $46.00 price target for the company. in a report on Friday, June 5th. Keefe, Bruyette & Woods decreased their price objective on Fiserv from $70.00 to $65.00 and set an "outperform" rating on the stock in a report on Friday, August 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $65.00 target price (down from $75.00) on shares of Fiserv in a research report on Friday, August 7th. The Goldman Sachs Group reissued a "neutral" rating and issued a $54.00 target price on shares of Fiserv in a research note on Friday, August 7th. Finally, BMO Capital Markets reiterated a "market perform" rating and set a $55.00 price objective (down from $60.00) on shares of Fiserv in a report on Wednesday, July 22nd. Six equities 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's stock. According to MarketBeat, Fiserv has an average rating of "Hold" and a consensus target price of $74.20.

Fiserv 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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