Rakuten Investment Management Inc. Purchases Shares of 87,307 Fiserv, Inc. $FISV

Key Points

• Rakuten Investment Management acquired 87,307 Fiserv shares during the second quarter, valued at approximately $4.26 million. Institutional investors collectively own 90.98% of the company’s stock.
• Analyst sentiment remains cautious: Fiserv has an average “Hold” rating, with 25 Hold, six Buy, and four Sell ratings and a consensus price target of $74.20.
• Fiserv’s latest quarterly results fell short of expectations, with adjusted EPS of $1.84 versus the $1.91 estimate and revenue of $4.96 billion versus $5.04 billion; revenue declined 4.1% year over year.

Rakuten Investment Management Inc. purchased 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. The firm purchased 87,307 shares of the business services provider's stock, valued at approximately $4,263,000.

A number of other institutional investors have also modified their holdings of FISV. Private Wealth Asset Management LLC acquired a new stake in Fiserv during the fourth quarter worth about $25,000. Kimelman & Baird LLC purchased a new position in Fiserv during the fourth quarter valued at approximately $27,000. Goodman Advisory Group LLC acquired a new position in Fiserv in the fourth quarter valued at approximately $27,000. Tripletail Wealth Management LLC purchased a new stake in Fiserv in the 4th quarter worth approximately $27,000. Finally, Godfrey Financial Associates Inc. acquired a new stake in shares of Fiserv during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 90.98% of the company's stock.

Wall Street Analysts Forecast Growth

FISV has been the subject of several recent research reports. Weiss Ratings lowered shares of Fiserv from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, June 12th. Wells Fargo & Company set a $56.00 price target on shares of Fiserv and gave the stock an "equal weight" rating in a report on Thursday, July 9th. BMO Capital Markets restated a "market perform" rating and set a $55.00 price target (down from $60.00) on shares of Fiserv in a research report on Wednesday, July 22nd. Robert W. Baird set a $78.00 price objective on shares of Fiserv in a report on Wednesday, May 6th. Finally, Truist Financial set a $53.00 price objective on shares of Fiserv and gave the stock a "hold" rating in a research report on Thursday, August 20th. Six research analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, Fiserv currently has an average rating of "Hold" and a consensus target price of $74.20.

Insider Activity

In related news, Director Lance M. Fritz bought 10,000 shares of the business's stock in a transaction dated 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 purchase, the director directly 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Paul M. Todd purchased 10,060 shares of Fiserv stock in a transaction that occurred on 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 transaction, the chief financial officer owned 184,107 shares in the company, valued at approximately $9,150,117.90. The trade was a 5.78% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.06% of the stock is owned by company insiders.

Fiserv Stock Performance

Shares of FISV stock opened at $53.18 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $28.28 billion, a price-to-earnings ratio of 10.21, a PEG ratio of 4.00 and a beta of 0.80. The stock has a 50 day simple moving average of $51.76 and a 200-day simple moving average of $55.57. Fiserv, Inc. has a 1-year low of $47.04 and a 1-year high of $138.85.

Fiserv (NASDAQ:FISV - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.91 by ($0.07). The company had revenue of $4.96 billion during the quarter, compared to analyst estimates of $5.04 billion. Fiserv had a net margin of 13.42% and a return on equity of 15.80%. Fiserv's quarterly revenue was down 4.1% on a year-over-year basis. On average, equities research analysts expect that Fiserv, Inc. will post 7.26 EPS for the current fiscal year.

Fiserv Company 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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