Private Management Group Inc. Purchases 720,930 Shares of Fiserv, Inc. $FISV

Key Points

• Private Management Group acquired 720,930 Fiserv shares in the third quarter, worth approximately $32.6 million and representing about 0.14% of the company.
• Analysts’ overall rating was Hold, with an average price target of $63.74; six rated the stock Buy, 20 Hold, and four Sell.
• Fiserv reported quarterly earnings of $1.75 per share, beating the $1.72 consensus estimate, while revenue of $4.85 billion was flat with expectations and down 1.3% year over year.

Private Management Group Inc. acquired a new position in shares of Fiserv, Inc. (NASDAQ:FISV - Free Report) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 720,930 shares of the business services provider's stock, valued at approximately $32,572,000. Private Management Group Inc. owned about 0.14% of Fiserv at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Fulcrum Asset Management LLP grew its position in shares of Fiserv by 2,675.7% in the 3rd quarter. Fulcrum Asset Management LLP now owns 159,241 shares of the business services provider's stock worth $7,223,000 after buying an additional 153,504 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Fiserv by 14.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 29,881 shares of the business services provider's stock worth $1,356,000 after acquiring an additional 3,830 shares in the last quarter. StoneRidge PMG Advisors LLC purchased a new stake in Fiserv during the third quarter valued at approximately $728,000. Hohimer Wealth Management LLC purchased a new stake in Fiserv during the third quarter valued at approximately $937,000. Finally, University of Texas Texas AM Investment Management Co. lifted its position in Fiserv by 444.1% during the third quarter. University of Texas Texas AM Investment Management Co. now owns 3,455 shares of the business services provider's stock valued at $156,000 after acquiring an additional 2,820 shares during the last quarter. Institutional investors own 90.98% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on FISV shares. Zacks Research upgraded shares of Fiserv from a "strong sell" rating to a "hold" rating in a research note on Thursday, November 5th. Cantor Fitzgerald upped their price target on Fiserv from $48.00 to $65.00 and gave the stock a "neutral" rating in a research report on Monday. Susquehanna decreased their price objective on Fiserv from $91.00 to $85.00 and set a "positive" rating for the company in a report on Friday, August 7th. Bank of America began coverage on Fiserv in a research report on Thursday, October 15th. They issued an "underperform" rating and a $48.00 price objective for the company. Finally, Citigroup boosted their target price on Fiserv from $53.00 to $62.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 4th. Six equities research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Fiserv currently has an average rating of "Hold" and an average target price of $63.74.

Fiserv Stock Performance

Shares of Fiserv stock opened at $63.52 on Tuesday. The company has a 50 day moving average price of $49.55 and a 200 day moving average price of $54.58. The firm has a market capitalization of $33.78 billion, a P/E ratio of -8.56, a PEG ratio of 5.53 and a beta of 0.85. 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 52 week low of $43.87 and a 52 week high of $70.41.

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

Fiserv Company Profile

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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