Tejara Capital Ltd Buys Shares of 54,100 Fiserv, Inc. $FISV

Key Points

• Tejara Capital purchased 54,100 Fiserv shares during the second quarter, valued at approximately $2.65 million. Institutional investors and hedge funds collectively own 90.98% of the company.
• Analysts maintain a predominantly cautious view, with 26 Hold, six Buy, and three Sell ratings. The consensus price target is $74.20, though several firms recently lowered their targets.
• Fiserv’s latest quarterly results missed expectations, with EPS of $1.84 versus the $1.91 consensus and revenue of $4.96 billion, down 4.1% year over year. Meanwhile, CFO Paul Todd and Director Lance Fritz bought shares, signaling insider confidence.

Tejara Capital Ltd purchased a new stake in Fiserv, Inc. (NASDAQ:FISV - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 54,100 shares of the business services provider's stock, valued at approximately $2,654,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in FISV. KLP Kapitalforvaltning AS purchased a new stake in Fiserv during the 4th quarter worth about $14,907,000. Handelsbanken Fonder AB boosted its holdings in shares of Fiserv by 16.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 176,106 shares of the business services provider's stock valued at $8,638,000 after buying an additional 25,477 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Fiserv during the fourth quarter worth about $1,996,000. DekaBank Deutsche Girozentrale acquired a new position in Fiserv during the fourth quarter worth approximately $25,558,000. Finally, Strs Ohio purchased a new stake in Fiserv in the 4th quarter valued at $11,255,000. Institutional investors and hedge funds own 90.98% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Susquehanna decreased their price objective on Fiserv from $91.00 to $85.00 and set a "positive" rating for the company in a research report on Friday, August 7th. JPMorgan Chase & Co. reduced their price target on shares of Fiserv from $62.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday, August 7th. Cantor Fitzgerald reissued a "neutral" rating and issued a $53.00 price objective (down from $62.00) on shares of Fiserv in a research note on Wednesday, July 22nd. Raymond James Financial restated a "market perform" rating on shares of Fiserv in a research report on Tuesday, July 7th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $65.00 target price (down from $75.00) on shares of Fiserv in a research note on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating, twenty-six have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $74.20.

Insiders Place Their Bets

In related news, CFO Paul M. Todd bought 10,060 shares of the firm's stock in a transaction that occurred on Wednesday, June 17th. The shares were acquired at an average cost of $49.70 per share, for a total transaction of $499,982.00. Following the acquisition, the chief financial officer directly owned 184,107 shares of the company's stock, valued at $9,150,117.90. The trade was a 5.78% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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 completion of the transaction, the director directly owned 27,207 shares of the company's stock, valued at $1,413,403.65. This trade represents a 58.12% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.06% of the stock is currently owned by company insiders.

Fiserv Price Performance

FISV stock opened at $51.38 on Friday. The stock has a 50-day simple moving average of $51.36 and a 200-day simple moving average of $55.87. Fiserv, Inc. has a 1 year low of $47.04 and a 1 year high of $140.19. 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 cap of $27.32 billion, a P/E ratio of 9.86, a price-to-earnings-growth ratio of 3.91 and a beta of 0.80.

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 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 firm had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $5.04 billion. The firm's revenue for the quarter was down 4.1% on a year-over-year basis. On average, equities analysts predict that Fiserv, Inc. will post 7.27 earnings per share for the current fiscal year.

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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