Fiserv, Inc. $FISV Shares Purchased by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its Fiserv stake by 28.2% in the third quarter, acquiring 21,227 additional shares and bringing its holdings to 96,523 shares valued at approximately $4.39 million. Institutional investors and hedge funds collectively own 90.98% of Fiserv.
• Fiserv reported quarterly EPS of $1.84, below the $1.91 analyst consensus, while revenue of $4.96 billion also missed expectations and declined 4.1% year over year.
• Analysts maintain a consensus “Hold” rating, with a $69.17 average price target; Fiserv shares opened at $47.69, well below their 12-month high of $128.78.

TD Waterhouse Canada Inc. boosted its holdings in Fiserv, Inc. (NASDAQ:FISV - Free Report) by 28.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 96,523 shares of the business services provider's stock after buying an additional 21,227 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Fiserv were worth $4,385,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FISV. BlackRock Inc. purchased a new stake in Fiserv during the 2nd quarter worth about $2,079,711,000. Deutsche Bank AG acquired a new position in shares of Fiserv during the 2nd quarter worth about $178,310,000. Legal & General Group Plc purchased a new position in shares of Fiserv in the 2nd quarter valued at about $161,557,000. Bank of New York Mellon Corp purchased a new position in shares of Fiserv in the 2nd quarter valued at about $123,177,000. Finally, Turtle Creek Asset Management Inc. raised its position in shares of Fiserv by 968.1% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 2,643,668 shares of the business services provider's stock worth $147,517,000 after acquiring an additional 2,396,167 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Fiserv news, Director Lance Fritz purchased 10,000 shares of the firm's stock in a transaction that occurred 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 purchase, the director directly owned 27,207 shares in the company, valued at approximately $1,413,403.65. This trade represents a 58.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Fiserv Price Performance

FISV stock opened at $47.69 on Tuesday. The company has a market capitalization of $25.36 billion, a P/E ratio of 9.15, a PEG ratio of 4.75 and a beta of 0.80. Fiserv, Inc. has a twelve month low of $43.87 and a twelve month high of $128.78. The business has a 50 day simple moving average of $49.35 and a 200-day simple moving average of $52.69. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.99.

Fiserv (NASDAQ:FISV - Get Free Report) last announced its 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 business had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $5.04 billion. Fiserv had a return on equity of 15.80% and a net margin of 13.42%. The business's revenue was down 4.1% compared to the same quarter last year. As a group, equities analysts anticipate that Fiserv, Inc. will post 7.25 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on FISV shares. UBS Group set a $60.00 target price on Fiserv and gave the stock a "neutral" rating in a research note on Friday, August 7th. Raymond James Financial reaffirmed a "market perform" rating on shares of Fiserv in a report on Tuesday, July 7th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $65.00 price target (down from $75.00) on shares of Fiserv in a research note on Friday, August 7th. Wells Fargo & Company set a $56.00 price objective on shares of Fiserv and gave the stock an "equal weight" rating in a report on Thursday, July 9th. Finally, Zacks Research cut shares of Fiserv from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 19th. Five research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $69.17.

Fiserv Company Profile

Fiserv, Inc is a global financial technology company that provides payment, banking, and commerce solutions to financial institutions, merchants, and other businesses. Its services support electronic payments, card processing, digital banking, account processing, fraud prevention, and related financial workflows.

The company's offerings include merchant acceptance and payments technology, issuer processing, digital banking platforms, core account-processing systems, electronic bill payment, and data-driven financial services.

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