Fiserv, Inc. $FISV Shares Newly Acquired by StoneRidge PMG Advisors LLC

Key Points

• StoneRidge PMG Advisors newly acquired 16,104 Fiserv shares in the third quarter, valued at approximately $728,000.
• Institutional investors own 90.98% of Fiserv shares; several other firms also reported new or increased positions.
• Fiserv beat quarterly EPS estimates with $1.75 per share versus $1.72 expected, while revenue of $4.85 billion matched forecasts and declined 1.3% year over year. Analysts’ consensus rating was Hold, with a $63.11 average price target.

StoneRidge PMG Advisors LLC acquired a new stake in Fiserv, Inc. (NASDAQ:FISV - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 16,104 shares of the business services provider's stock, valued at approximately $728,000.

A number of other institutional investors have also bought and sold shares of the business. William Mack & Associates Inc. purchased a new stake in shares of Fiserv in the third quarter valued at approximately $26,000. Next Level Wealth Planning LLC purchased a new position in Fiserv during the third quarter worth approximately $29,000. Keating Financial Advisory Services Inc. purchased a new position in Fiserv during the second quarter worth approximately $30,000. Osterweis Capital Management Inc. acquired a new position in Fiserv during the second quarter worth $32,000. Finally, Pinnacle Wealth Planning Services Inc. boosted its stake in Fiserv by 49.3% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 854 shares of the business services provider's stock worth $39,000 after buying an additional 282 shares during the last quarter. 90.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on FISV. The Goldman Sachs Group restated a "neutral" rating and issued a $54.00 target price on shares of Fiserv in a report on Friday, August 7th. Keefe, Bruyette & Woods lifted their price target on Fiserv from $60.00 to $70.00 and gave the stock an "outperform" rating in a report on Wednesday, November 4th. Barclays boosted their price target on shares of Fiserv from $50.00 to $59.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 4th. JPMorgan Chase & Co. upped their price objective on shares of Fiserv from $60.00 to $65.00 and gave the company a "neutral" rating in a report on Wednesday, November 4th. Finally, Citigroup raised their price objective on shares of Fiserv from $53.00 to $62.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 4th. Six analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, Fiserv has a consensus rating of "Hold" and a consensus target price of $63.11.

Fiserv Stock Performance

Shares of NASDAQ FISV opened at $62.88 on Monday. 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 stock has a market capitalization of $33.46 billion, a PE ratio of -8.47, a PEG ratio of 5.60 and a beta of 0.85. Fiserv, Inc. has a twelve month low of $43.87 and a twelve month high of $70.41. The stock has a fifty day simple moving average of $49.34 and a 200-day simple moving average of $54.59.

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

More Fiserv News

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

About Fiserv

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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