Fiserv, Inc. $FISV Stock Sold by Crescent Grove Advisors LLC

Key Points

• Crescent Grove Advisors reduced its Fiserv stake by 22.5% in the third quarter, selling 26,116 shares and retaining 89,789 shares worth approximately $4.06 million. Institutional investors collectively own 90.98% of Fiserv.
• Fiserv shares opened at $48.21, near the lower end of their 52-week range. The company recently missed quarterly expectations, reporting $1.84 in adjusted EPS versus the $1.91 consensus and revenue of $4.96 billion versus $5.04 billion expected.
• Analyst sentiment remains cautious, with 25 “Hold” ratings, five “Buy” ratings, and five “Sell” ratings; the consensus price target is $66.55. Meanwhile, Director Lance Fritz purchased 10,000 shares worth $519,500.

Crescent Grove Advisors LLC cut its holdings in Fiserv, Inc. (NASDAQ:FISV - Free Report) by 22.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,789 shares of the business services provider's stock after selling 26,116 shares during the period. Crescent Grove Advisors LLC's holdings in Fiserv were worth $4,057,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Handelsbanken Fonder AB boosted its holdings in Fiserv by 16.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 176,106 shares of the business services provider's stock valued at $8,638,000 after purchasing an additional 25,477 shares during the period. Stanley Capital Management LLC acquired a new stake in shares of Fiserv in the 2nd quarter valued at $6,159,000. Renaissance Technologies LLC grew its stake in Fiserv by 437.5% during the first quarter. Renaissance Technologies LLC now owns 668,227 shares of the business services provider's stock worth $37,287,000 after buying an additional 543,900 shares during the last quarter. Paralel Advisors LLC acquired a new stake in Fiserv during the 2nd quarter valued at $2,031,000. Finally, Bank of America Corp DE bought a new position in shares of Fiserv in the second quarter valued at about $108,221,000. Institutional investors own 90.98% of the company's stock.

Fiserv Stock Down 0.1%

Shares of NASDAQ FISV opened at $48.21 on Thursday. The stock's fifty day moving average is $49.19 and its 200 day moving average is $52.58. The stock has a market capitalization of $25.64 billion, a P/E ratio of 9.25, a PEG ratio of 4.82 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. Fiserv, Inc. has a 52 week low of $43.87 and a 52 week high of $128.78.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.91 by ($0.07). The firm had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $5.04 billion. Fiserv had a net margin of 13.42% and a return on equity of 15.80%. Fiserv's revenue for the quarter was down 4.1% compared to the same quarter last year. Sell-side analysts forecast that Fiserv, Inc. will post 7.25 earnings per share for the current fiscal year.

Insider Activity at Fiserv

In related news, Director Lance Fritz purchased 10,000 shares of Fiserv stock in a transaction dated Friday, August 7th. The shares were bought at an average cost of $51.95 per share, for a total transaction of $519,500.00. Following the purchase, the director owned 27,207 shares in the company, valued at approximately $1,413,403.65. This trade represents a 58.12% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.06% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on FISV shares. Wells Fargo & Company set a $56.00 price objective on shares of Fiserv and gave the company an "equal weight" rating in a research report on Thursday, July 9th. Oppenheimer downgraded Fiserv from an "outperform" rating to a "market perform" rating in a research note on Thursday, October 8th. Citigroup cut their price objective on shares of Fiserv from $57.00 to $53.00 and set a "neutral" rating on the stock in a research report on Friday, October 16th. JPMorgan Chase & Co. cut their price objective on shares of Fiserv from $62.00 to $60.00 and set a "neutral" rating on the stock in a research report on Friday, August 7th. Finally, Truist Financial set a $53.00 target price on shares of Fiserv and gave the company a "hold" rating in a research note on Thursday, August 20th. Five investment analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $66.55.

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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