Saranac Partners Ltd Purchases Shares of 80,882 Fiserv, Inc. $FISV

Key Points

• Saranac Partners purchased 80,882 Fiserv shares in the second quarter, valued at approximately $3.97 million. Institutional investors collectively own 90.98% of the company.
• Fiserv insiders recently bought shares, including CFO Paul Todd’s nearly $500,000 purchase and Director Lance Fritz’s $519,500 purchase. Insiders own just 0.06% of the stock.
• Fiserv’s latest quarterly results fell short of expectations, with adjusted EPS of $1.84 versus the $1.91 consensus and revenue of $4.96 billion versus $5.04 billion expected. Analysts have a consensus “Hold” rating and a $74.20 target price.

Saranac Partners Ltd purchased a new position in Fiserv, Inc. (NASDAQ:FISV - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 80,882 shares of the business services provider's stock, valued at approximately $3,965,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Oakworth Capital Inc. bought a new stake in shares of Fiserv during the 4th quarter valued at about $25,000. Private Wealth Asset Management LLC purchased a new stake in Fiserv in the fourth quarter valued at approximately $25,000. Kimelman & Baird LLC bought a new stake in Fiserv during the fourth quarter valued at approximately $27,000. Goodman Advisory Group LLC purchased a new position in Fiserv in the 4th quarter worth approximately $27,000. Finally, Tripletail Wealth Management LLC bought a new position in Fiserv in the fourth quarter valued at $27,000. 90.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Fiserv

In related news, CFO Paul M. Todd bought 10,060 shares of the company's stock in a transaction dated Wednesday, June 17th. The stock was purchased at an average cost 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. This trade represents a 5.78% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lance M. Fritz bought 10,000 shares of the business's stock in a transaction dated Friday, August 7th. The shares were bought at an average cost of $51.95 per share, for a total transaction of $519,500.00. Following the purchase, the director directly owned 27,207 shares in the company, valued at approximately $1,413,403.65. This represents a 58.12% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.06% of the company's stock.

Fiserv Stock Performance

FISV opened at $52.58 on Monday. Fiserv, Inc. has a one year low of $47.04 and a one year high of $140.09. 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 business has a 50 day simple moving average of $51.33 and a two-hundred day simple moving average of $55.80. The firm has a market capitalization of $27.96 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 3.95 and a beta of 0.80.

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 analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $5.04 billion. The company's quarterly revenue was down 4.1% on a year-over-year basis. Analysts predict that Fiserv, Inc. will post 7.27 EPS for the current year.

Wall Street Analyst Weigh In

FISV has been the topic of several recent research reports. Truist Financial set a $53.00 price objective on Fiserv and gave the company a "hold" rating in a research report on Thursday. Rothschild & Co Redburn reduced their price target on shares of Fiserv from $50.00 to $40.00 and set a "sell" rating on the stock in a research report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Fiserv from $63.00 to $60.00 in a research note on Monday, May 11th. Susquehanna lowered their target price on Fiserv from $91.00 to $85.00 and set a "positive" rating for the company in a research note on Friday, August 7th. Finally, Zacks Research cut Fiserv from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 19th. Six analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, Fiserv currently has a consensus rating of "Hold" and a consensus 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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