The Manufacturers Life Insurance Company bought a new stake in Fiserv, Inc. (NASDAQ:FISV - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 519,487 shares of the business services provider's stock, valued at approximately $25,481,000. The Manufacturers Life Insurance Company owned 0.10% of Fiserv at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Dodge & Cox acquired a new stake in Fiserv in the fourth quarter valued at $3,323,210,000. BlackRock Inc. acquired a new position in shares of Fiserv during the 2nd quarter worth approximately $2,079,711,000. State Street Corp purchased a new stake in shares of Fiserv in the fourth quarter valued at $1,588,663,000. Geode Capital Management LLC purchased a new position in Fiserv in the 4th quarter valued at about $854,215,000. Finally, Amundi purchased a new position in shares of Fiserv during the fourth quarter valued at approximately $825,819,000. Institutional investors and hedge funds own 90.98% of the company's stock.
Fiserv Stock Performance
Fiserv stock opened at $52.58 on Friday. The company has a fifty day moving average price of $51.65 and a two-hundred day moving average price of $55.62. 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, Inc. has a 12 month low of $47.04 and a 12 month high of $138.85. The company has a market cap of $27.96 billion, a PE ratio of 10.09, a P/E/G ratio of 3.95 and a beta of 0.80.
Fiserv (NASDAQ:FISV - Get Free Report) last announced 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 net margin of 13.42% and a return on equity of 15.80%. The business had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $5.04 billion. The firm's revenue was down 4.1% on a year-over-year basis. Research analysts expect that Fiserv, Inc. will post 7.26 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on FISV. Keefe, Bruyette & Woods decreased their price target on Fiserv from $70.00 to $65.00 and set an "outperform" rating on the stock in a research note on Friday, August 7th. Zacks Research lowered Fiserv from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 19th. Royal Bank Of Canada reissued an "outperform" rating and set a $65.00 target price (down from $75.00) on shares of Fiserv in a research report on Friday, August 7th. Truist Financial set a $53.00 price target on Fiserv and gave the company a "hold" rating in a report on Thursday, August 20th. Finally, TD Cowen reduced their price objective on shares of Fiserv from $63.00 to $55.00 and set a "hold" rating on the stock in a research note on Friday, August 7th. Six analysts have rated the stock with a Buy rating, twenty-five have issued a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $74.20.
Check Out Our Latest Stock Analysis on Fiserv
Insider Buying and Selling at Fiserv
In other Fiserv news, CFO Paul M. Todd purchased 10,060 shares of Fiserv stock in a transaction on Wednesday, June 17th. The stock was bought at an average price of $49.70 per share, for a total transaction of $499,982.00. Following the transaction, the chief financial officer 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 filing with the SEC, which is accessible through this link. Also, Director Lance M. Fritz acquired 10,000 shares of Fiserv stock in a transaction that occurred on Friday, August 7th. The stock was bought at an average cost of $51.95 per share, with a total value of $519,500.00. Following the acquisition, 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 SEC filing for this purchase provides additional information. 0.06% of the stock is owned by company insiders.
About Fiserv
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding FISV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fiserv, Inc. (NASDAQ:FISV - Free Report).
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