Somerville Kurt F Acquires Shares of 21,645 Fiserv, Inc. $FISV

Key Points

• Somerville Kurt F initiated a Fiserv position by purchasing 21,645 shares worth approximately $1.06 million in the second quarter. Institutional investors collectively own 90.98% of the company.
• Fiserv’s latest quarterly results fell short of expectations, with EPS of $1.84 versus the $1.91 consensus and revenue of $4.96 billion versus $5.04 billion; revenue declined 4.1% year over year.
• Analyst sentiment remains mixed, with the stock receiving an overall “Hold” rating and an average price target of $74.17, while company insiders—including a director and the CFO—recently purchased shares.

Somerville Kurt F bought a new stake in shares of Fiserv, Inc. (NASDAQ:FISV - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 21,645 shares of the business services provider's stock, valued at approximately $1,062,000.

Other large investors also recently made changes to their positions in the company. Oakworth Capital Inc. bought a new position in shares of Fiserv in the 4th quarter worth $25,000. Private Wealth Asset Management LLC acquired a new position in Fiserv in the fourth quarter valued at about $25,000. Kimelman & Baird LLC bought a new position in Fiserv during the fourth quarter worth about $27,000. Goodman Advisory Group LLC bought a new position in Fiserv during the fourth quarter worth about $27,000. Finally, Tripletail Wealth Management LLC acquired a new position in shares of Fiserv during the 4th quarter worth about $27,000. Institutional investors and hedge funds own 90.98% of the company's stock.

Fiserv Price Performance

Shares of FISV opened at $52.08 on Thursday. The stock has a 50 day simple moving average of $51.39 and a 200 day simple moving average of $55.96. Fiserv, Inc. has a 52-week low of $47.04 and a 52-week high of $140.42. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $27.69 billion, a PE ratio of 10.00, a P/E/G ratio of 3.88 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 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.07). Fiserv had a return on equity of 15.80% and a net margin of 13.42%.The company had revenue of $4.96 billion for the quarter, compared to analyst estimates of $5.04 billion. The business's quarterly revenue was down 4.1% on a year-over-year basis. Sell-side analysts predict that Fiserv, Inc. will post 7.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FISV. Weiss Ratings downgraded shares of Fiserv from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, June 12th. UBS Group set a $60.00 price objective on shares of Fiserv and gave the company a "neutral" rating in a report on Friday, August 7th. Morgan Stanley set a $59.00 target price on shares of Fiserv in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Fiserv from $63.00 to $60.00 in a report on Monday, May 11th. Finally, 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. Six investment analysts have rated the stock with a Buy rating, twenty-six have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $74.17.

Insiders Place Their Bets

In related news, Director Lance M. Fritz acquired 10,000 shares of the business's stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average cost of $51.95 per share, with a total value of $519,500.00. Following the transaction, the director owned 27,207 shares of the company's stock, valued at $1,413,403.65. The trade was a 58.12% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Paul M. Todd bought 10,060 shares of Fiserv stock in a transaction that occurred on Wednesday, June 17th. The stock was bought at an average cost of $49.70 per share, with a total value of $499,982.00. Following the completion of the purchase, 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 disclosure for this purchase is available in the SEC filing. Company insiders own 0.06% of the company's stock.

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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