Jupiter Topco LLC Invests $3.28 Million in Fiserv, Inc. $FISV

Key Points

• Jupiter Topco LLC purchased 66,820 Fiserv shares worth approximately $3.28 million in the second quarter. Institutional investors collectively own 90.98% of the company.
• Fiserv’s shares opened at $51.67 after falling 3.1%; the company’s latest quarterly results missed expectations, with earnings of $1.84 per share and revenue of $4.96 billion, down 4.1% year over year.
• Analysts maintain a consensus “Hold” rating, with an average price target of $74.20, while several firms recently lowered their individual targets. Fiserv directors also reported recent stock purchases.

Jupiter Topco LLC purchased a new stake in shares of Fiserv, Inc. (NASDAQ:FISV - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 66,820 shares of the business services provider's stock, valued at approximately $3,277,000.

Other large investors have also recently modified their holdings of the company. Flat Footed LLC bought a new position in Fiserv in the 2nd quarter worth about $11,772,000. Stanley Capital Management LLC purchased a new stake in shares of Fiserv during the second quarter valued at approximately $6,159,000. Redwood Grove Capital LLC bought a new stake in shares of Fiserv during the second quarter valued at approximately $12,637,000. Canada Pension Plan Investment Board purchased a new position in Fiserv in the 2nd quarter worth approximately $44,052,000. Finally, Castleark Management LLC purchased a new position in Fiserv in the 2nd quarter worth approximately $98,000. Hedge funds and other institutional investors own 90.98% of the company's stock.

Fiserv Stock Down 3.1%

Shares of FISV stock opened at $51.67 on Wednesday. Fiserv, Inc. has a 12 month low of $47.04 and a 12 month high of $138.62. The stock has a market cap of $27.48 billion, a P/E ratio of 9.92, a P/E/G ratio of 4.01 and a beta of 0.80. 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 company has a 50 day simple moving average of $51.97 and a two-hundred day simple moving average of $55.43.

Fiserv (NASDAQ:FISV - Get Free Report) last issued its quarterly earnings results 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 return on equity of 15.80% and a net margin of 13.42%.The business had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $5.04 billion. The company's revenue was down 4.1% on a year-over-year basis. On average, research analysts expect that Fiserv, Inc. will post 7.26 earnings per share for the current year.

Insider Buying and Selling at Fiserv

In related news, Director Lance M. Fritz purchased 10,000 shares of the business's stock in a transaction 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 completion of the acquisition, the director owned 27,207 shares of the company's stock, valued at approximately $1,413,403.65. This trade represents a 58.12% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Paul M. Todd purchased 10,060 shares of Fiserv stock in a transaction on Wednesday, June 17th. The stock was bought at an average price of $49.70 per share, with a total value of $499,982.00. Following the transaction, the chief financial officer owned 184,107 shares of the company's stock, valued at approximately $9,150,117.90. This represents a 5.78% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Susquehanna decreased their price objective on shares of Fiserv from $91.00 to $85.00 and set a "positive" rating for the company in a report on Friday, August 7th. The Goldman Sachs Group restated a "neutral" rating and issued a $54.00 target price on shares of Fiserv in a report on Friday, August 7th. JPMorgan Chase & Co. cut their target price on shares of Fiserv from $62.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday, August 7th. Barclays set a $52.00 price target on Fiserv and gave the company an "equal weight" rating in a report on Friday, August 7th. Finally, Citigroup restated a "neutral" rating and issued a $57.00 price target (down from $60.00) on shares of Fiserv in a research note on Friday, July 10th. Six equities research analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $74.20.

About Fiserv

Fiserv, Inc, founded in 1984 and headquartered in Brookfield, Wisconsin, is a global provider of financial services technology. The company develops and delivers integrated solutions for payments, processing, risk and compliance, customer and channel management, and business insights and optimization. Serving thousands of clients, Fiserv supports banks, credit unions, securities broker-dealers, leasing and finance companies, and retailers.

Fiserv’s core offerings include account processing systems that automate deposit, lending and transaction processing for financial institutions, as well as digital banking platforms that enable mobile and online banking services.

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