Fiserv, Inc. $FISV Shares Purchased by Kerrisdale Advisers LLC

Key Points

• Kerrisdale Advisers increased its Fiserv stake by 369.4% in the second quarter, holding 35,815 shares worth approximately $1.76 million. Institutional investors collectively own 90.98% of Fiserv’s stock.
• Fiserv insiders also bought shares: CFO Paul Todd purchased roughly $500,000 worth, while Director Lance Fritz acquired $519,500. Insiders collectively own just 0.06% of the company.
• Fiserv’s latest quarterly results missed analyst expectations, with adjusted EPS of $1.84 versus $1.91 expected and revenue of $4.96 billion versus $5.04 billion forecast. Analysts maintain an average “Hold” rating, with a consensus price target of $74.20.

Kerrisdale Advisers LLC increased its position in shares of Fiserv, Inc. (NASDAQ:FISV - Free Report) by 369.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,815 shares of the business services provider's stock after buying an additional 28,185 shares during the quarter. Kerrisdale Advisers LLC's holdings in Fiserv were worth $1,757,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Dodge & Cox purchased a new position in shares of Fiserv during the fourth quarter worth approximately $3,323,210,000. BlackRock Inc. purchased a new stake in Fiserv in the 2nd quarter valued at $2,079,711,000. State Street Corp acquired a new stake in Fiserv during the 4th quarter worth $1,588,663,000. Geode Capital Management LLC acquired a new stake in Fiserv during the 4th quarter worth $854,215,000. Finally, Amundi purchased a new position in Fiserv during the 4th quarter worth $825,819,000. Institutional investors and hedge funds own 90.98% of the company's stock.

Insider Activity at Fiserv

In other Fiserv news, CFO Paul M. Todd purchased 10,060 shares of the firm's stock in a transaction that occurred on Wednesday, June 17th. The shares were purchased at an average cost of $49.70 per share, for a total transaction of $499,982.00. Following the completion of the purchase, the chief financial officer directly owned 184,107 shares in the company, valued at $9,150,117.90. This represents a 5.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lance M. Fritz acquired 10,000 shares of the company's stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average cost of $51.95 per share, for a total transaction of $519,500.00. Following the acquisition, 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.06% of the stock is owned by company insiders.

Fiserv Price Performance

FISV stock opened at $53.18 on Monday. Fiserv, Inc. has a one year low of $47.04 and a one year high of $138.85. The stock has a market capitalization of $28.28 billion, a PE ratio of 10.21, a price-to-earnings-growth ratio of 4.00 and a beta of 0.80. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.04 and a current ratio of 1.04. The company has a fifty day moving average of $51.76 and a 200-day moving average of $55.57.

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 analysts' consensus estimates of $1.91 by ($0.07). The firm had revenue of $4.96 billion for the quarter, compared to analyst estimates of $5.04 billion. Fiserv had a return on equity of 15.80% and a net margin of 13.42%.The company's revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, analysts expect that Fiserv, Inc. will post 7.26 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on FISV shares. Zacks Research cut shares of Fiserv from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 19th. B. Riley Financial lowered their price target on Fiserv from $69.00 to $66.00 and set a "neutral" rating on the stock in a report on Wednesday, May 6th. Barclays set a $52.00 price target on Fiserv and gave the company an "equal weight" rating in a research report on Friday, August 7th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $53.00 price objective (down from $62.00) on shares of Fiserv in a research note on Wednesday, July 22nd. Finally, Rothschild & Co Redburn decreased their price objective on Fiserv from $50.00 to $40.00 and set a "sell" rating for the company in a research report on Tuesday, May 12th. Six research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Fiserv presently has an average rating of "Hold" and a consensus target price of $74.20.

About Fiserv

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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