Fiserv (NASDAQ:FISV) Director Buys 10,000 Shares

Key Points

• Fiserv Director Lance Fritz bought 10,000 shares at an average price of $51.95, investing $519,500 and increasing his ownership by 58.12% to 27,207 shares.
• Fiserv’s latest quarterly results fell short of expectations: adjusted earnings were $1.84 per share versus a $1.91 estimate, while revenue declined 4.1% year over year to $4.96 billion.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $74.17; shares recently traded around $52.72.

Fiserv, Inc. (NASDAQ:FISV - Get Free Report) Director Lance Fritz acquired 10,000 shares of the firm's stock in a transaction on 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 acquisition, the director owned 27,207 shares of the company's stock, valued at approximately $1,413,403.65. This represents a 58.12% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Fiserv Price Performance

Shares of FISV stock traded up $0.50 on Tuesday, reaching $52.72. 8,093,902 shares of the company were exchanged, compared to its average volume of 7,918,520. The company has a market cap of $28.11 billion, a price-to-earnings ratio of 10.12, a P/E/G ratio of 1.64 and a beta of 0.80. Fiserv, Inc. has a 1 year low of $47.04 and a 1 year high of $140.42. The business has a 50-day moving average price of $51.63 and a 200 day moving average price of $56.61. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.06 and a current ratio of 1.04.

Fiserv (NASDAQ:FISV - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $5.04 billion. The company's quarterly revenue was down 4.1% on a year-over-year basis. Equities research analysts forecast that Fiserv, Inc. will post 7.3 earnings per share for the current fiscal year.

Institutional Trading of Fiserv

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. acquired a new position in shares of Fiserv in the 4th quarter valued at $3,507,063,000. Dodge & Cox acquired a new position in Fiserv in the fourth quarter valued at about $3,323,210,000. BlackRock Inc. acquired a new position in Fiserv in the second quarter valued at about $2,079,711,000. State Street Corp purchased a new position in Fiserv during the fourth quarter worth about $1,588,663,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Fiserv during the fourth quarter valued at about $854,215,000. Institutional investors and hedge funds own 90.98% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on FISV shares. Mizuho reduced their price objective on Fiserv from $100.00 to $90.00 and set an "outperform" rating for the company in a research note on Wednesday, May 6th. Rothschild & Co Redburn dropped their target price on shares of Fiserv from $50.00 to $40.00 and set a "sell" rating for the company in a report on Tuesday, May 12th. Keefe, Bruyette & Woods reduced their target price on shares of Fiserv from $70.00 to $65.00 and set an "outperform" rating for the company in a research report on Friday. Barclays set a $52.00 price target on shares of Fiserv and gave the stock an "equal weight" rating in a research note on Friday. Finally, Weiss Ratings lowered shares of Fiserv from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, June 12th. Six 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $74.17.

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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