Patient Capital Management LLC Takes Position in Fiserv, Inc. $FISV

Key Points

• Patient Capital Management acquired 953,637 Fiserv shares worth approximately $46.8 million, giving it a 0.18% stake and making Fiserv 1.5% of its portfolio. Institutional investors collectively own 90.98% of the company.
• Fiserv’s latest quarterly results missed expectations, with earnings per share of $1.84 versus the $1.91 consensus and revenue of $4.96 billion versus $5.04 billion expected; revenue declined 4.1% year over year.
• Company insiders recently bought shares, including purchases by a director and the CFO, while analysts maintain a consensus “Hold” rating with an average price target of $74.20.

Patient Capital Management LLC acquired a new position in Fiserv, Inc. (NASDAQ:FISV - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 953,637 shares of the business services provider's stock, valued at approximately $46,776,000. Fiserv accounts for 1.5% of Patient Capital Management LLC's portfolio, making the stock its 26th largest holding. Patient Capital Management LLC owned approximately 0.18% of Fiserv at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Oakworth Capital Inc. purchased a new position in shares of Fiserv during the 4th quarter worth $25,000. Private Wealth Asset Management LLC purchased a new stake in Fiserv in the 4th quarter valued at about $25,000. Kimelman & Baird LLC purchased a new stake in Fiserv in the 4th quarter valued at about $27,000. Goodman Advisory Group LLC acquired a new position in Fiserv in the fourth quarter valued at about $27,000. Finally, Tripletail Wealth Management LLC acquired a new position in Fiserv in the fourth quarter valued at about $27,000. Institutional investors and hedge funds own 90.98% of the company's stock.

Fiserv Price Performance

Shares of FISV opened at $52.58 on Monday. The company's 50-day simple moving average is $51.33 and its 200-day simple moving average is $55.80. 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 1 year low of $47.04 and a 1 year high of $140.09. The stock has a market capitalization of $27.96 billion, a PE ratio of 10.09, a P/E/G ratio of 3.95 and a beta of 0.80.

Fiserv (NASDAQ:FISV - Get Free Report) last announced its 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). The business had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $5.04 billion. Fiserv had a return on equity of 15.80% and a net margin of 13.42%.The firm's quarterly revenue was down 4.1% on a year-over-year basis. Analysts forecast that Fiserv, Inc. will post 7.27 earnings per share for the current fiscal 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 shares were bought at an average price of $51.95 per share, for a total transaction of $519,500.00. Following the acquisition, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed 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 cost of $49.70 per share, for a total transaction of $499,982.00. Following the transaction, the chief financial officer directly owned 184,107 shares in the company, valued at $9,150,117.90. This represents a 5.78% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on FISV shares. Wells Fargo & Company set a $56.00 price target on shares of Fiserv and gave the company an "equal weight" rating in a research report on Thursday, July 9th. Rothschild & Co Redburn decreased their price objective on shares of Fiserv from $50.00 to $40.00 and set a "sell" rating on the stock in a report on Tuesday, May 12th. Zacks Research cut shares of Fiserv from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 19th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $65.00 target price (down from $75.00) on shares of Fiserv in a report on Friday, August 7th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $53.00 target price (down from $62.00) on shares of Fiserv in a research report on Wednesday, July 22nd. Six analysts have rated the stock with a Buy rating, twenty-five have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, Fiserv presently has a consensus rating of "Hold" and a consensus 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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