Turtle Creek Asset Management Inc. Buys 2,396,167 Shares of Fiserv, Inc. $FISV

Key Points

• Turtle Creek Asset Management increased its Fiserv stake by 968.1%, purchasing 2.4 million additional shares to hold 2.64 million shares valued at approximately $147.5 million. Institutional investors collectively own 90.98% of Fiserv.
• Analysts have generally lowered their price targets, with Fiserv receiving a consensus “Hold” rating and an average target of $76.57. Recent targets range from $53 to $75.
• Fiserv beat quarterly EPS expectations, reporting $1.79 versus the $1.57 consensus, although revenue declined 2% year over year to $4.67 billion. Shares opened at $55.63, near the lower end of their 52-week range.

Turtle Creek Asset Management Inc. lifted its stake in Fiserv, Inc. (NASDAQ:FISV - Free Report) by 968.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,643,668 shares of the business services provider's stock after acquiring an additional 2,396,167 shares during the period. Fiserv accounts for about 5.5% of Turtle Creek Asset Management Inc.'s investment portfolio, making the stock its 4th largest position. Turtle Creek Asset Management Inc. owned approximately 0.50% of Fiserv worth $147,517,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. acquired a new position in Fiserv during the fourth quarter valued at approximately $3,507,063,000. Dodge & Cox acquired a new stake in shares of Fiserv in the fourth quarter worth $3,323,210,000. State Street Corp bought a new stake in shares of Fiserv during the 4th quarter worth $1,588,663,000. Geode Capital Management LLC bought a new stake in shares of Fiserv during the 4th quarter worth $854,215,000. Finally, Amundi acquired a new position in Fiserv in the 4th quarter valued at $825,819,000. 90.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on FISV shares. Cantor Fitzgerald reiterated a "neutral" rating and issued a $53.00 target price (down from $62.00) on shares of Fiserv in a report on Wednesday, July 22nd. BMO Capital Markets reaffirmed a "market perform" rating and issued a $55.00 price target (down from $60.00) on shares of Fiserv in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. dropped their price objective on Fiserv from $75.00 to $62.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 8th. Keefe, Bruyette & Woods cut their price objective on Fiserv from $80.00 to $75.00 and set an "outperform" rating for the company in a research report on Tuesday, April 7th. Finally, Wells Fargo & Company set a $56.00 target price on Fiserv and gave the company an "equal weight" rating in a research note on Thursday, July 9th. Six analysts have rated the stock with a Buy rating, twenty-six have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, Fiserv currently has a consensus rating of "Hold" and a consensus target price of $76.57.

Fiserv Price Performance

Shares of Fiserv stock opened at $55.63 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.06 and a quick ratio of 1.06. Fiserv, Inc. has a fifty-two week low of $47.04 and a fifty-two week high of $142.83. The firm has a fifty day moving average price of $52.07 and a two-hundred day moving average price of $57.35. The company has a market cap of $29.66 billion, a PE ratio of 9.43, a price-to-earnings-growth ratio of 1.52 and a beta of 0.82.

Fiserv (NASDAQ:FISV - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The business services provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.22. The company had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.73 billion. Fiserv had a net margin of 15.17% and a return on equity of 17.46%. The business's revenue was down 2.0% on a year-over-year basis. Fiserv has set its FY 2026 guidance at 8.000-8.300 EPS. Analysts expect that Fiserv, Inc. will post 8.13 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Paul M. Todd purchased 10,060 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were purchased at an average cost of $49.70 per share, for a total transaction of $499,982.00. Following the completion of the purchase, the chief financial officer directly owned 184,107 shares of the company's stock, valued at approximately $9,150,117.90. The trade was a 5.78% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is currently owned by company insiders.

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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