Manning & Napier Advisors LLC Sells 780,636 Shares of Fiserv, Inc. $FISV

Manning & Napier Advisors LLC lessened its stake in Fiserv, Inc. (NASDAQ:FISV) by 99.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 696 shares of the business services provider’s stock after selling 780,636 shares during the period. Manning & Napier Advisors LLC’s holdings in Fiserv were worth $90,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Sound Income Strategies LLC purchased a new stake in Fiserv during the third quarter valued at $28,000. True Wealth Design LLC grew its stake in shares of Fiserv by 3,750.0% during the 3rd quarter. True Wealth Design LLC now owns 231 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 225 shares during the period. Hager Investment Management Services LLC purchased a new stake in shares of Fiserv during the 2nd quarter valued at about $34,000. Clear Street LLC bought a new position in shares of Fiserv in the 2nd quarter worth approximately $34,000. Finally, Armstrong Advisory Group Inc. boosted its holdings in shares of Fiserv by 178.9% in the second quarter. Armstrong Advisory Group Inc. now owns 212 shares of the business services provider’s stock worth $37,000 after buying an additional 136 shares during the last quarter. 90.98% of the stock is owned by institutional investors.

Insider Transactions at Fiserv

In other news, insider Adam L. Rosman bought 7,900 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was purchased at an average cost of $63.19 per share, for a total transaction of $499,201.00. Following the transaction, the insider owned 61,285 shares of the company’s stock, valued at $3,872,599.15. The trade was a 14.80% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lance M. Fritz bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was acquired at an average cost of $65.18 per share, with a total value of $651,800.00. Following the completion of the acquisition, the director owned 13,086 shares of the company’s stock, valued at $852,945.48. This represents a 324.04% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 34,900 shares of company stock valued at $2,211,971 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FISV. BNP Paribas Exane reiterated a “neutral” rating and set a $62.00 price target on shares of Fiserv in a research note on Wednesday, November 5th. BTIG Research downgraded Fiserv from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 29th. Citigroup cut their price objective on Fiserv from $128.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. Stephens cut shares of Fiserv from an “overweight” rating to an “equal weight” rating and set a $80.00 target price on the stock. in a research note on Thursday, October 30th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Fiserv from $170.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday, October 30th. Ten investment analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $114.32.

Fiserv Stock Performance

FISV opened at $66.78 on Friday. The stock has a market capitalization of $36.30 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 2.72 and a beta of 0.80. Fiserv, Inc. has a fifty-two week low of $59.56 and a fifty-two week high of $238.59. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.08 and a current ratio of 1.08. The company has a fifty day moving average of $65.64 and a 200 day moving average of $110.32.

Fiserv (NASDAQ:FISV) last issued its quarterly earnings data on Wednesday, October 29th. The business services provider reported $2.04 earnings per share for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.60). The firm had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Fiserv had a net margin of 17.05% and a return on equity of 19.47%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.30 EPS. Fiserv has set its FY 2025 guidance at 8.500-8.600 EPS. As a group, sell-side analysts forecast that Fiserv, Inc. will post 10.23 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.