Public Employees Retirement System of Ohio Purchases Shares of 166,584 Fiserv, Inc. $FISV

Key Points

• Public Employees Retirement System of Ohio acquired 166,584 Fiserv shares worth approximately $8.17 million during the second quarter. Institutional investors and hedge funds collectively own 90.98% of Fiserv.
• Fiserv reported weaker-than-expected quarterly results, with earnings of $1.84 per share versus the $1.91 consensus estimate and revenue of $4.96 billion versus $5.04 billion expected. Revenue declined 4.1% year over year.
• Analyst sentiment remains cautious: Fiserv has a consensus “Hold” rating, with 25 Hold, six Buy, and four Sell ratings, and an average price target of $74.20. Meanwhile, the CFO and a director recently purchased shares totaling roughly $1.02 million.

Public Employees Retirement System of Ohio acquired a new position in shares of Fiserv, Inc. (NASDAQ:FISV - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 166,584 shares of the business services provider's stock, valued at approximately $8,171,000.

Several other hedge funds also recently modified their holdings of the company. Handelsbanken Fonder AB lifted its position in shares of Fiserv by 16.9% during the second quarter. Handelsbanken Fonder AB now owns 176,106 shares of the business services provider's stock worth $8,638,000 after purchasing an additional 25,477 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in Fiserv during the fourth quarter worth about $1,996,000. Strs Ohio bought a new position in Fiserv in the fourth quarter valued at approximately $11,255,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Fiserv during the fourth quarter worth $1,903,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of Fiserv during the fourth quarter worth $4,913,000. Institutional investors and hedge funds own 90.98% of the company's stock.

Fiserv Trading Up 0.2%

FISV stock opened at $53.31 on Tuesday. Fiserv, Inc. has a one year low of $47.04 and a one year high of $138.85. The stock has a market cap of $28.35 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth ratio of 4.00 and a beta of 0.80. The company has a fifty day moving average price of $51.88 and a two-hundred day moving average price of $55.50. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.04 and a quick ratio of 1.04.

Fiserv (NASDAQ:FISV - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $5.04 billion. Fiserv had a net margin of 13.42% and a return on equity of 15.80%. Fiserv's revenue was down 4.1% compared to the same quarter last year. Equities analysts anticipate that Fiserv, Inc. will post 7.26 EPS for the current year.

Insider Activity

In other news, CFO Paul M. Todd bought 10,060 shares of the firm's stock in a transaction dated Wednesday, June 17th. The shares were bought at an average price of $49.70 per share, with a total value of $499,982.00. Following the completion of the transaction, the chief financial officer owned 184,107 shares of the company's stock, valued at $9,150,117.90. This trade represents a 5.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lance M. Fritz bought 10,000 shares of the stock in a transaction dated Friday, August 7th. The shares were purchased at an average price of $51.95 per share, for a total transaction of $519,500.00. Following the purchase, the director owned 27,207 shares of the company's stock, valued at $1,413,403.65. This trade represents a 58.12% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.06% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Citigroup reaffirmed a "neutral" rating and issued a $57.00 target price (down from $60.00) on shares of Fiserv in a research note on Friday, July 10th. Raymond James Financial reaffirmed a "market perform" rating on shares of Fiserv in a research report on Tuesday, July 7th. Zacks Research downgraded Fiserv from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 19th. JPMorgan Chase & Co. cut their target price on Fiserv from $62.00 to $60.00 and set a "neutral" rating on the stock in a research note on Friday, August 7th. Finally, Morgan Stanley set a $59.00 price target on shares of Fiserv in a research note on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $74.20.

Fiserv Profile

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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