Fiserv, Inc. $FISV is JANA Partners Management LP's 5th Largest Position

Key Points

• JANA Partners reduced its Fiserv stake by 17.4% in the second quarter, selling 773,525 shares but retaining 3.66 million shares worth approximately $179.6 million. Fiserv remains JANA’s fifth-largest holding and represents 9.4% of its portfolio.
• Fiserv insiders showed confidence through purchases: CFO Paul Todd bought nearly $500,000 in shares, while Director Lance Fritz purchased $519,500. Institutional investors own approximately 90.98% of the company.
• Fiserv reported disappointing quarterly results, with EPS of $1.84 and revenue of $4.96 billion below analyst estimates; revenue declined 4.1% year over year. Analysts have a consensus “Hold” rating, with an average price target of $74.20.

JANA Partners Management LP cut its stake in shares of Fiserv, Inc. (NASDAQ:FISV - Free Report) by 17.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,662,080 shares of the business services provider's stock after selling 773,525 shares during the period. Fiserv accounts for approximately 9.4% of JANA Partners Management LP's portfolio, making the stock its 5th largest holding. JANA Partners Management LP owned approximately 0.69% of Fiserv worth $179,625,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its position in shares of Fiserv by 91.9% during the 4th quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider's stock valued at $872,000 after purchasing an additional 2,033 shares in the last quarter. Bison Wealth LLC raised its position in shares of Fiserv by 5.3% in the fourth quarter. Bison Wealth LLC now owns 2,299 shares of the business services provider's stock worth $472,000 after buying an additional 116 shares in the last quarter. Schnieders Capital Management LLC. raised its position in shares of Fiserv by 21.0% in the second quarter. Schnieders Capital Management LLC. now owns 2,782 shares of the business services provider's stock worth $480,000 after buying an additional 483 shares in the last quarter. Jump Financial LLC bought a new stake in Fiserv during the second quarter valued at $1,001,000. Finally, Gamco Investors INC. ET AL grew its position in Fiserv by 7.2% during the second quarter. Gamco Investors INC. ET AL now owns 5,200 shares of the business services provider's stock worth $897,000 after buying an additional 350 shares in the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fiserv

In other news, CFO Paul M. Todd purchased 10,060 shares of the business's stock in a transaction on Wednesday, June 17th. The shares were acquired at an average price of $49.70 per share, with a total value of $499,982.00. Following the acquisition, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lance M. Fritz acquired 10,000 shares of the firm's stock in a transaction on Friday, August 7th. The stock was purchased at an average price of $51.95 per share, for a total transaction of $519,500.00. Following the transaction, 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 position. Additional details regarding this purchase are available in the official SEC disclosure. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. UBS Group set a $60.00 price target on Fiserv and gave the company a "neutral" rating in a report on Friday, August 7th. Rothschild & Co Redburn decreased their price objective on shares of Fiserv from $50.00 to $40.00 and set a "sell" rating on the stock in a research report on Tuesday, May 12th. Loop Capital lowered their target price on shares of Fiserv from $63.00 to $62.00 and set a "hold" rating on the stock in a research note on Friday, May 15th. Weiss Ratings lowered shares of Fiserv from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, June 12th. Finally, BNP Paribas Exane cut shares of Fiserv from a "neutral" rating to an "underperform" rating and set a $46.00 price target for the company. in a research note on Friday, June 5th. Six research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, Fiserv presently has a consensus rating of "Hold" and an average price target of $74.20.

Fiserv Trading Up 1.4%

NASDAQ FISV opened at $52.73 on Friday. Fiserv, Inc. has a 1-year low of $47.04 and a 1-year high of $138.62. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.99. The stock has a 50-day moving average of $52.15 and a 200-day moving average of $55.34. The firm has a market cap of $28.04 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 3.91 and a beta of 0.80.

Fiserv (NASDAQ:FISV - Get Free Report) last announced its quarterly 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 return on equity of 15.80% and a net margin of 13.42%.The company had revenue of $4.96 billion during the quarter, compared to analysts' expectations of $5.04 billion. The firm's quarterly revenue was down 4.1% on a year-over-year basis. As a group, sell-side analysts forecast that Fiserv, Inc. will post 7.26 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.

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