Fiserv, Inc. $FISV Stock Purchased by Blume Capital Management Inc.

Key Points

• Blume Capital Management increased its Fiserv position by 56.6% in the third quarter, acquiring 76,775 additional shares for a total holding of 212,434 shares valued at approximately $9.6 million.
• Fiserv reported weaker-than-expected quarterly results, with EPS of $1.84 versus the $1.91 consensus and revenue of $4.96 billion, down 4.1% year over year.
• The stock opened at $48.33, near its 52-week low, while analysts maintained a consensus “Hold” rating with an average price target of $66.48; institutional investors own 90.98% of shares.

Blume Capital Management Inc. boosted its position in Fiserv, Inc. (NASDAQ:FISV - Free Report) by 56.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 212,434 shares of the business services provider's stock after purchasing an additional 76,775 shares during the period. Fiserv makes up about 1.4% of Blume Capital Management Inc.'s portfolio, making the stock its 27th largest holding. Blume Capital Management Inc.'s holdings in Fiserv were worth $9,598,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FISV. Keating Financial Advisory Services Inc. acquired a new position in Fiserv during the second quarter worth about $30,000. Osterweis Capital Management Inc. acquired a new position in shares of Fiserv in the 2nd quarter worth $32,000. Caitlin John LLC acquired a new stake in shares of Fiserv during the second quarter worth $45,000. Elevation Wealth Partners LLC raised its position in shares of Fiserv by 537.8% during the second quarter. Elevation Wealth Partners LLC now owns 944 shares of the business services provider's stock worth $46,000 after purchasing an additional 796 shares during the period. Finally, Root Financial Partners LLC purchased a new stake in shares of Fiserv during the third quarter valued at $46,000. 90.98% of the stock is owned by institutional investors.

Fiserv Price Performance

Shares of NASDAQ:FISV opened at $48.33 on Tuesday. The firm has a market cap of $25.70 billion, a price-to-earnings ratio of 9.28, a P/E/G ratio of 4.98 and a beta of 0.80. Fiserv, Inc. has a 1 year low of $43.87 and a 1 year high of $128.78. 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 business has a fifty day simple moving average of $49.04 and a 200 day simple moving average of $55.27.

Fiserv (NASDAQ:FISV - Get Free Report) last issued its earnings results on Thursday, August 6th. The business services provider reported $1.84 EPS for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $5.04 billion. The business's quarterly revenue was down 4.1% compared to the same quarter last year. As a group, sell-side analysts predict that Fiserv, Inc. will post 7.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FISV. Weiss Ratings lowered Fiserv from a "sell (d+)" rating to a "sell (d)" rating in a research report on Wednesday, October 21st. Susquehanna cut their price objective on Fiserv from $91.00 to $85.00 and set a "positive" rating on the stock in a report on Friday, August 7th. Wells Fargo & Company set a $56.00 price objective on shares of Fiserv and gave the company an "equal weight" rating in a research note on Thursday, July 9th. BMO Capital Markets reiterated a "market perform" rating and issued a $55.00 target price (down from $60.00) on shares of Fiserv in a report on Wednesday, July 22nd. Finally, Cantor Fitzgerald decreased their target price on shares of Fiserv from $53.00 to $48.00 and set a "neutral" rating for the company in a report on Friday, October 16th. Five analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $66.48.

Insider Activity

In other news, Director Lance Fritz purchased 10,000 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was acquired at an average price of $51.95 per share, with a total value of $519,500.00. Following the purchase, the director owned 27,207 shares in the company, valued at $1,413,403.65. This represents a 58.12% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

About Fiserv

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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