Fiserv, Inc. $FISV Stock Sold by Inlet Private Wealth LLC

Key Points

• Inlet Private Wealth LLC cut its Fiserv stake by 39.7% in the third quarter, selling 27,000 shares and retaining 41,095 shares valued at approximately $1.86 million.
• Fiserv reported weaker-than-expected quarterly results, with earnings of $1.84 per share and revenue of $4.96 billion; revenue fell 4.1% year over year.
• Shares opened at $48.21, while analysts maintained a consensus “Hold” rating and an average price target of $66.55. Institutional investors own 90.98% of the stock.

Inlet Private Wealth LLC lowered its stake in shares of Fiserv, Inc. (NASDAQ:FISV - Free Report) by 39.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 41,095 shares of the business services provider's stock after selling 27,000 shares during the period. Inlet Private Wealth LLC's holdings in Fiserv were worth $1,857,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Keating Financial Advisory Services Inc. bought a new position in shares of Fiserv in the second quarter valued at approximately $30,000. Osterweis Capital Management Inc. purchased a new position in shares of Fiserv during the second quarter valued at approximately $32,000. Caitlin John LLC purchased a new position in shares of Fiserv during the second quarter valued at approximately $45,000. Elevation Wealth Partners LLC grew its holdings in 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 buying an additional 796 shares in the last quarter. Finally, Highland Investment Advisors LLC bought a new stake in Fiserv during the second quarter worth $48,000. 90.98% of the stock is owned by institutional investors.

Fiserv Stock Performance

FISV stock opened at $48.21 on Thursday. The firm has a market cap of $25.64 billion, a PE ratio of 9.25, a P/E/G ratio of 4.82 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. The business has a 50 day moving average of $49.19 and a 200-day moving average of $52.58. Fiserv, Inc. has a 12-month low of $43.87 and a 12-month high of $128.78.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Stephens reissued an "equal weight" rating and issued a $57.00 price target on shares of Fiserv in a research report on Tuesday, August 11th. UBS Group set a $60.00 price objective on shares of Fiserv and gave the stock a "neutral" rating in a report on Friday, August 7th. Weiss Ratings upgraded shares of Fiserv from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday, October 6th. 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 research note on Wednesday, July 22nd. Finally, Morgan Stanley set a $59.00 target price on shares of Fiserv in a report on Friday, August 7th. Five equities research 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 company. According to MarketBeat, Fiserv currently has an average rating of "Hold" and a consensus target price of $66.55.

Insider Transactions at Fiserv

In other Fiserv news, Director Lance Fritz bought 10,000 shares of the firm's stock in a transaction dated Friday, August 7th. The stock was purchased at an average cost of $51.95 per share, with a total value of $519,500.00. Following the transaction, the director directly owned 27,207 shares in the company, valued at $1,413,403.65. This trade represents a 58.12% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is owned by company insiders.

Fiserv 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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