Fiserv, Inc. $FISV Position Raised by Fulcrum Asset Management LLP

Key Points

• Fulcrum Asset Management increased its Fiserv stake by 2,675.7% in the third quarter, ending with 159,241 shares valued at about $7.2 million. Institutional investors collectively own 90.98% of the stock.
• Fiserv reported quarterly EPS of $1.75, topping the $1.72 consensus, while revenue of $4.85 billion met estimates; revenue was down 1.3% year over year.
• Analyst views remain mixed: the consensus rating is Hold with a $63.11 target price, alongside six Buy, 20 Hold, and four Sell ratings.

Fulcrum Asset Management LLP increased its stake in Fiserv, Inc. (NASDAQ:FISV - Free Report) by 2,675.7% during the third quarter, according to its most recent filing with the SEC. The fund owned 159,241 shares of the business services provider's stock after buying an additional 153,504 shares during the quarter. Fulcrum Asset Management LLP's holdings in Fiserv were worth $7,223,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FISV. Handelsbanken Fonder AB grew its position in shares of 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 acquiring an additional 25,477 shares during the period. Stanley Capital Management LLC purchased a new stake in shares of Fiserv during the 2nd quarter worth approximately $6,159,000. Renaissance Technologies LLC increased its stake in shares of Fiserv by 437.5% during the 1st quarter. Renaissance Technologies LLC now owns 668,227 shares of the business services provider's stock worth $37,287,000 after purchasing an additional 543,900 shares during the last quarter. Woodstock Corp increased its stake in shares of Fiserv by 20.3% during the 3rd quarter. Woodstock Corp now owns 131,739 shares of the business services provider's stock worth $5,952,000 after purchasing an additional 22,256 shares during the last quarter. Finally, Paralel Advisors LLC bought a new stake in shares of Fiserv in the 2nd quarter worth approximately $2,031,000. 90.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FISV has been the topic of several research analyst reports. Oppenheimer downgraded Fiserv from an "outperform" rating to a "market perform" rating in a research note on Thursday, October 8th. Bank of America assumed coverage on Fiserv in a research report on Thursday, October 15th. They issued an "underperform" rating and a $48.00 target price for the company. UBS Group boosted their target price on Fiserv from $60.00 to $68.00 and gave the company a "neutral" rating in a research note on Wednesday, November 4th. TD Cowen boosted their target price on Fiserv from $49.00 to $59.00 and gave the company a "hold" rating in a research note on Wednesday, November 4th. Finally, Keefe, Bruyette & Woods upped their price target on Fiserv from $60.00 to $70.00 and gave the company an "outperform" rating in a research report on Wednesday, November 4th. Six research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $63.11.

Key Headlines Impacting Fiserv

Here are the key news stories impacting Fiserv this week:

• Positive Sentiment: Fiserv reported quarterly EPS of $1.75, topping the $1.72 consensus estimate; revenue of $4.85 billion matched expectations. Shares subsequently bounced, and coverage highlighted Project Elevate as support for an undervaluation thesis. Article: Fiserv Shares Gap Up After Better-Than-Expected Earnings Article: Fiserv Rebounds on Project Elevate
• Positive Sentiment: KBW reaffirmed its Buy rating and raised its price target. Citigroup and RBC also issued positive forecasts, adding support to the bullish view. Article: KBW Reaffirms Buy Rating Article: Citigroup Forecast Article: RBC Forecast
• Neutral Sentiment: Fiserv added Raj Seshadri to its board, a move tied to its payments and data focus. UBS raised its target to $68 but kept a Neutral rating. Article: Fiserv Adds Raj Seshadri to Board
• Negative Sentiment: Revenue declined 1.3% year over year, and analyst opinion remains divided: Bank of America maintained a Sell rating, while B. Riley kept its Hold rating. Article: Bank of America Maintains Sell Rating Article: B. Riley Maintains Hold Rating

Fiserv Stock Performance

Shares of Fiserv stock opened at $62.88 on Monday. Fiserv, Inc. has a 12-month low of $43.87 and a 12-month high of $70.41. The company has a market cap of $33.46 billion, a price-to-earnings ratio of -8.47, a PEG ratio of 5.60 and a beta of 0.85. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.22. The company's 50-day moving average price is $49.34 and its 200-day moving average price is $54.59.

Fiserv (NASDAQ:FISV - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The business services provider reported $1.75 EPS for the quarter, beating analysts' consensus estimates of $1.72 by $0.03. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.85 billion. Fiserv had a negative net margin of 18.91% and a positive return on equity of 15.76%. The firm's revenue for the quarter was down 1.3% compared to the same quarter last year. On average, equities analysts expect that Fiserv, Inc. will post 7.27 earnings per share for the current fiscal year.

Fiserv Company Profile

Fiserv is a financial technology company that provides payment and financial services technology to banks, credit unions, businesses and merchants. Its offerings include payment processing, digital banking, account processing, debit and credit card services, and tools that help financial institutions manage customer accounts and transactions.

For merchants, Fiserv offers Clover, a platform that combines point-of-sale hardware and software with payment acceptance and business management tools.

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