Fiserv, Inc. $FISV Stock: Birch Hill Investment Advisors LLC Decreases Stake

Key Points

• Birch Hill Investment Advisors cut its Fiserv stake by 3.5% in the third quarter, selling 21,530 shares and retaining 601,759 shares valued at approximately $27.2 million. Institutional investors collectively own 90.98% of the company.
• Fiserv’s latest quarterly results fell short of expectations: earnings per share came in at $1.84 versus the $1.91 consensus, while revenue of $4.96 billion declined 4.1% year over year.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $69.17. Director Lance Fritz nevertheless purchased 10,000 shares worth $519,500, increasing his position by 58.12%.

Birch Hill Investment Advisors LLC lowered its stake in Fiserv, Inc. (NASDAQ:FISV - Free Report) by 3.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 601,759 shares of the business services provider's stock after selling 21,530 shares during the quarter. Fiserv comprises 1.2% of Birch Hill Investment Advisors LLC's portfolio, making the stock its 28th biggest holding. Birch Hill Investment Advisors LLC owned 0.11% of Fiserv worth $27,187,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legacy Wealth Asset Management LLC lifted its position in shares of Fiserv by 3.3% in the second quarter. Legacy Wealth Asset Management LLC now owns 6,184 shares of the business services provider's stock worth $303,000 after buying an additional 195 shares in the last quarter. Sunbelt Securities Inc. increased its position in shares of Fiserv by 10.4% during the first quarter. Sunbelt Securities Inc. now owns 2,290 shares of the business services provider's stock worth $128,000 after acquiring an additional 215 shares during the period. Intelligence Driven Advisers LLC increased its stake in shares of Fiserv by 4.0% during the third quarter. Intelligence Driven Advisers LLC now owns 6,553 shares of the business services provider's stock valued at $296,000 after buying an additional 250 shares during the period. Plan A Wealth LLC raised its holdings in shares of Fiserv by 4.2% in the 3rd quarter. Plan A Wealth LLC now owns 6,832 shares of the business services provider's stock valued at $309,000 after purchasing an additional 277 shares in the last quarter. Finally, Gilpin Wealth Management LLC boosted its holdings in shares of Fiserv by 22.6% in the 3rd quarter. Gilpin Wealth Management LLC now owns 1,525 shares of the business services provider's stock valued at $69,000 after buying an additional 281 shares in the last quarter. Institutional investors own 90.98% of the company's stock.

Fiserv Stock Performance

Shares of Fiserv stock opened at $47.55 on Friday. The firm has a market capitalization of $25.29 billion, a P/E ratio of 9.13, a P/E/G ratio of 4.74 and a beta of 0.80. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.99. Fiserv, Inc. has a 52 week low of $43.87 and a 52 week high of $128.78. The firm's 50 day moving average is $49.44 and its two-hundred day moving average is $52.76.

Fiserv (NASDAQ:FISV - Get Free Report) last posted 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 net margin of 13.42% and a return on equity of 15.80%. The firm had revenue of $4.96 billion during the quarter, compared to analyst estimates of $5.04 billion. Fiserv's quarterly revenue was down 4.1% compared to the same quarter last year. Research analysts forecast that Fiserv, Inc. will post 7.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FISV has been the subject of a number of research analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $65.00 price target (down from $75.00) on shares of Fiserv in a report on Friday, August 7th. UBS Group set a $60.00 price objective on Fiserv and gave the stock a "neutral" rating in a report on Friday, August 7th. B. Riley Financial decreased their target price on shares of Fiserv from $66.00 to $51.00 and set a "neutral" rating on the stock in a research note on Monday, September 28th. Truist Financial set a $53.00 target price on shares of Fiserv and gave the company a "hold" rating in a report on Thursday, August 20th. Finally, JPMorgan Chase & Co. lowered their price target on Fiserv from $62.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday, August 7th. Five 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 stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $69.17.

Insider Buying and Selling

In other news, Director Lance Fritz acquired 10,000 shares of Fiserv stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average price of $51.95 per share, with a total value of $519,500.00. Following the completion of the purchase, the director owned 27,207 shares of the company's stock, valued at approximately $1,413,403.65. This represents a 58.12% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.06% of the company's stock.

Fiserv Profile

Fiserv, Inc is a global financial technology company that provides payments and financial services technology to banks, credit unions, merchants and other businesses. Its offerings support electronic payments, account processing, digital banking, merchant acquiring, fraud prevention and related financial services operations.

The company's products and platforms include Clover, a point-of-sale and business management system for small and midsize businesses; Carat, which provides enterprise commerce and payment solutions; and services that help financial institutions manage accounts, digital channels, card programs, payments and data.

Want to see what other hedge funds are holding FISV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fiserv, Inc. (NASDAQ:FISV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.