Fiserv, Inc. $FISV Shares Acquired by Investment Management Corp of Ontario

Key Points

• Investment Management Corp of Ontario boosted its stake in Fiserv by 115.3% in Q2, adding 27,107 shares for a total of 50,609 shares valued at $8.725 million, and institutional investors now own about 90.98% of the company.
• Insiders have been buying: Adam L. Rosman purchased 7,900 shares at $63.19 and Director Lance M. Fritz bought 10,000 shares at $65.18, contributing to 34,900 insider shares bought in the last three months (insiders now own 0.75%).
• Wall Street sentiment is mixed — the consensus rating is an average "Hold" with a $121.08 price target, while the stock trades near $65.73, has a PE of 10.16, and a 1-year range of $59.56–$238.59.

Investment Management Corp of Ontario lifted its stake in shares of Fiserv, Inc. (NASDAQ:FISV - Free Report) by 115.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 50,609 shares of the business services provider's stock after acquiring an additional 27,107 shares during the period. Investment Management Corp of Ontario's holdings in Fiserv were worth $8,725,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of FISV. iSAM Funds UK Ltd purchased a new position in Fiserv during the second quarter worth about $681,000. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna purchased a new stake in shares of Fiserv in the 2nd quarter valued at approximately $931,000. Lombard Odier Asset Management Switzerland SA increased its holdings in shares of Fiserv by 11.2% during the 2nd quarter. Lombard Odier Asset Management Switzerland SA now owns 22,769 shares of the business services provider's stock worth $3,926,000 after buying an additional 2,302 shares during the last quarter. Fayez Sarofim & Co increased its holdings in shares of Fiserv by 0.7% during the 2nd quarter. Fayez Sarofim & Co now owns 13,439 shares of the business services provider's stock worth $2,317,000 after buying an additional 95 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Fiserv by 10.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 96,375 shares of the business services provider's stock valued at $16,616,000 after buying an additional 9,464 shares during the period. Hedge funds and other institutional investors own 90.98% of the company's stock.

Insider Transactions at Fiserv

In other Fiserv news, insider Adam L. Rosman bought 7,900 shares of the company's stock in a transaction that occurred on Tuesday, December 2nd. The shares were purchased at an average price of $63.19 per share, with a total value of $499,201.00. Following the completion of the acquisition, the insider directly owned 61,285 shares of the company's stock, valued at $3,872,599.15. This represents a 14.80% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lance M. Fritz purchased 10,000 shares of the business's stock in a transaction on Thursday, October 30th. The stock was acquired at an average price of $65.18 per share, for a total transaction of $651,800.00. Following the completion of the purchase, the director owned 13,086 shares of the company's stock, valued at $852,945.48. This represents a 324.04% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 34,900 shares of company stock valued at $2,211,971. Insiders own 0.75% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $85.00 price objective on shares of Fiserv in a research report on Thursday, December 4th. Wolfe Research reaffirmed a "peer perform" rating on shares of Fiserv in a research note on Wednesday, October 29th. Mizuho set a $145.00 price target on Fiserv and gave the stock an "outperform" rating in a report on Tuesday, October 28th. Wall Street Zen downgraded Fiserv from a "buy" rating to a "hold" rating in a research report on Saturday, October 11th. Finally, The Goldman Sachs Group cut shares of Fiserv from a "buy" rating to a "neutral" rating and decreased their target price for the company from $149.00 to $79.00 in a research report on Thursday, October 30th. Ten equities research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $121.08.

Fiserv Stock Performance

Shares of FISV opened at $65.73 on Tuesday. The stock has a 50-day simple moving average of $89.22 and a 200-day simple moving average of $128.69. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.08 and a current ratio of 1.08. Fiserv, Inc. has a 1 year low of $59.56 and a 1 year high of $238.59. The stock has a market capitalization of $35.73 billion, a PE ratio of 10.16, a PEG ratio of 2.55 and a beta of 0.80.

Fiserv (NASDAQ:FISV - Get Free Report) last issued its earnings results on Tuesday, March 26th. The business services provider reported $1.91 earnings per share for the quarter. Fiserv had a net margin of 17.05% and a return on equity of 19.47%. The firm had revenue of $4.32 billion for the quarter. On average, analysts predict that Fiserv, Inc. will post 10.23 earnings per share for the current fiscal year.

Fiserv Company Profile

Fiserv, Inc, together with its subsidiaries, provides payments and financial services technology services in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally. It operates through Merchant Acceptance, Financial Technology, and Payments and Network segments.

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