Fiserv, Inc. $FISV Shares Sold by Vulcan Value Partners LLC

Key Points

• Vulcan Value Partners cut its Fiserv stake by 18.3% in the second quarter, selling 200,694 shares and retaining 893,965 shares valued at approximately $43.8 million. Institutional investors and hedge funds collectively own 90.98% of Fiserv.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and an average price target of $74.20, although several firms recently lowered their targets. Fiserv executives also purchased shares, including 10,060 shares bought by the CFO and 10,000 by a director.
• Fiserv shares fell 4.0% to $50.86, near the lower end of their 52-week range, after the company reported quarterly earnings and revenue below consensus estimates. Revenue declined 4.1% year over year, while earnings per share missed expectations by $0.07.

Vulcan Value Partners LLC lessened its holdings in Fiserv, Inc. (NASDAQ:FISV - Free Report) by 18.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 893,965 shares of the business services provider's stock after selling 200,694 shares during the period. Fiserv accounts for approximately 1.3% of Vulcan Value Partners LLC's portfolio, making the stock its 17th largest holding. Vulcan Value Partners LLC owned approximately 0.17% of Fiserv worth $43,849,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of FISV. Brighton Jones LLC raised its position in shares of Fiserv by 91.9% during the 4th quarter. Brighton Jones LLC now owns 4,245 shares of the business services provider's stock worth $872,000 after purchasing an additional 2,033 shares during the last quarter. Bison Wealth LLC grew its holdings in Fiserv by 5.3% during the 4th quarter. Bison Wealth LLC now owns 2,299 shares of the business services provider's stock valued at $472,000 after buying an additional 116 shares during the last quarter. Schnieders Capital Management LLC. grew its holdings in Fiserv by 21.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 2,782 shares of the business services provider's stock valued at $480,000 after buying an additional 483 shares during the last quarter. Jump Financial LLC purchased a new position in Fiserv during the second quarter worth $1,001,000. Finally, Gamco Investors INC. ET AL increased its position in Fiserv by 7.2% during the second quarter. Gamco Investors INC. ET AL now owns 5,200 shares of the business services provider's stock worth $897,000 after buying an additional 350 shares in the last quarter. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FISV has been the topic of several recent research reports. Keefe, Bruyette & Woods reduced their price objective on Fiserv from $70.00 to $65.00 and set an "outperform" rating on the stock in a research report on Friday, August 7th. Raymond James Financial reiterated a "market perform" rating on shares of Fiserv in a research report on Tuesday, July 7th. Stephens restated an "equal weight" rating and issued a $57.00 target price on shares of Fiserv in a report on Tuesday, August 11th. Zacks Research cut shares of Fiserv from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 19th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $65.00 price target (down from $75.00) on shares of Fiserv in a report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $74.20.

Insider Buying and Selling

In other news, CFO Paul M. Todd bought 10,060 shares of the business's stock in a transaction that occurred on Wednesday, June 17th. The shares were acquired at an average cost of $49.70 per share, with a total value of $499,982.00. Following the transaction, the chief financial officer owned 184,107 shares of the company's stock, valued at $9,150,117.90. This represents a 5.78% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Lance M. Fritz bought 10,000 shares of Fiserv 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 acquisition, the director directly owned 27,207 shares of the company's stock, valued at $1,413,403.65. The trade was a 58.12% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.06% of the company's stock.

Fiserv Trading Down 4.0%

FISV traded down $2.14 during midday trading on Tuesday, hitting $50.86. The company's stock had a trading volume of 16,659,755 shares, compared to its average volume of 7,749,744. Fiserv, Inc. has a 52-week low of $47.04 and a 52-week high of $136.60. The firm has a 50-day moving average price of $52.34 and a two-hundred day moving average price of $55.13. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.99. The firm has a market cap of $27.05 billion, a P/E ratio of 9.76, a PEG ratio of 3.99 and a beta of 0.80.

Fiserv (NASDAQ:FISV - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.07). Fiserv had a return on equity of 15.80% and a net margin of 13.42%.The company had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $5.04 billion. The company's quarterly revenue was down 4.1% on a year-over-year basis. On average, research analysts anticipate that Fiserv, Inc. will post 7.26 earnings per share for the current year.

Fiserv Profile

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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