Fiserv, Inc. $FISV Stock: Welch & Forbes LLC Lowers Stake

Key Points

• Welch & Forbes cut its Fiserv stake by 23.5% in the third quarter, selling 72,597 shares. It retained 235,847 shares, valued at $10.66 million at quarter-end.
• Fiserv beat quarterly earnings expectations, reporting $1.75 per share versus $1.72 expected; revenue was $4.85 billion, in line with estimates, but down 1.3% year over year.
• Analysts’ consensus rating was Hold, with a $63.74 average price target. Six analysts rated the stock Buy, 20 Hold, and four Sell.

Welch & Forbes LLC cut its holdings in Fiserv, Inc. (NASDAQ:FISV - Free Report) by 23.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 235,847 shares of the business services provider's stock after selling 72,597 shares during the quarter. Welch & Forbes LLC's holdings in Fiserv were worth $10,656,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. William Mack & Associates Inc. bought a new position in Fiserv during the third quarter valued at $26,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Fiserv in the 2nd quarter worth $30,000. Next Level Wealth Planning LLC purchased a new position in shares of Fiserv in the 3rd quarter worth $29,000. Osterweis Capital Management Inc. bought a new stake in shares of Fiserv in the 2nd quarter worth about $32,000. Finally, Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Fiserv by 49.3% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 854 shares of the business services provider's stock worth $39,000 after buying an additional 282 shares during the last quarter. Institutional investors own 90.98% of the company's stock.

Fiserv Trading Up 1.0%

FISV stock opened at $63.52 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.22. Fiserv, Inc. has a twelve month low of $43.87 and a twelve month high of $70.41. The stock has a market capitalization of $33.78 billion, a price-to-earnings ratio of -8.56, a price-to-earnings-growth ratio of 5.53 and a beta of 0.85. The firm's fifty day simple moving average is $49.55 and its two-hundred day simple moving average is $54.58.

Fiserv (NASDAQ:FISV - Get Free Report) last announced its earnings results on Tuesday, November 3rd. The business services provider reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.03. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.85 billion. Fiserv had a negative net margin of 18.91% and a positive return on equity of 15.76%. The company's quarterly revenue was down 1.3% on a year-over-year basis. As a group, analysts anticipate that Fiserv, Inc. will post 7.27 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FISV. Truist Financial set a $51.00 target price on shares of Fiserv and gave the company a "hold" rating in a research report on Friday, October 23rd. Susquehanna dropped their price target on Fiserv from $91.00 to $85.00 and set a "positive" rating for the company in a research report on Friday, August 7th. Argus raised Fiserv from a "hold" rating to a "buy" rating and set a $72.00 price objective on the stock in a research note on Wednesday, November 4th. UBS Group upped their price objective on Fiserv from $60.00 to $68.00 and gave the company a "neutral" rating in a research report on Wednesday, November 4th. Finally, Oppenheimer downgraded Fiserv from an "outperform" rating to a "market perform" rating in a research report on Thursday, October 8th. Six analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $63.74.

About Fiserv

Fiserv is a financial technology company that provides payment and financial services technology to banks, credit unions, businesses and merchants. Its offerings include payment processing, digital banking, account processing, debit and credit card services, and tools that help financial institutions manage customer accounts and transactions.

For merchants, Fiserv offers Clover, a platform that combines point-of-sale hardware and software with payment acceptance and business management tools.

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