Coastal Bridge Advisors LLC Purchases Shares of 11,145 Fiserv, Inc. $FISV

Coastal Bridge Advisors LLC purchased a new position in shares of Fiserv, Inc. (NASDAQ:FISV) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 11,145 shares of the business services provider’s stock, valued at approximately $1,437,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FISV. Norges Bank acquired a new position in Fiserv during the second quarter worth approximately $1,252,260,000. Marshall Wace LLP bought a new position in Fiserv in the 2nd quarter valued at about $356,643,000. Worldquant Millennium Advisors LLC increased its stake in shares of Fiserv by 2,134.9% during the second quarter. Worldquant Millennium Advisors LLC now owns 993,068 shares of the business services provider’s stock worth $171,215,000 after purchasing an additional 948,634 shares during the period. Baupost Group LLC MA bought a new stake in Fiserv in the 2nd quarter valued at $154,307,000. Finally, Amundi grew its holdings in Fiserv by 27.2% in the 2nd quarter. Amundi now owns 3,781,665 shares of the business services provider’s stock valued at $652,148,000 after buying an additional 807,916 shares in the last quarter. 90.98% of the stock is owned by institutional investors.

Fiserv Stock Performance

Shares of FISV opened at $63.43 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.15. The firm’s fifty day simple moving average is $66.28 and its two-hundred day simple moving average is $102.96. Fiserv, Inc. has a 12 month low of $59.56 and a 12 month high of $238.59. The stock has a market capitalization of $34.48 billion, a P/E ratio of 9.80, a price-to-earnings-growth ratio of 3.72 and a beta of 0.80.

Fiserv (NASDAQ:FISV) last issued its quarterly earnings results on Wednesday, October 29th. The business services provider reported $2.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($0.60). The business had revenue of $4.92 billion during the quarter, compared to analyst estimates of $5.37 billion. Fiserv had a net margin of 17.05% and a return on equity of 19.47%. Fiserv’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the firm posted $2.30 earnings per share. As a group, analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

Analysts Set New Price Targets

FISV has been the topic of a number of recent research reports. Sanford C. Bernstein lowered shares of Fiserv from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $205.00 to $80.00 in a research report on Thursday, October 30th. Zacks Research raised shares of Fiserv from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 14th. Cantor Fitzgerald upgraded shares of Fiserv to a “hold” rating in a research report on Tuesday. Susquehanna reaffirmed a “positive” rating and issued a $99.00 price objective (down from $220.00) on shares of Fiserv in a research note on Wednesday, November 12th. Finally, UBS Group set a $75.00 target price on shares of Fiserv and gave the company a “neutral” rating in a research report on Thursday, October 30th. Ten investment analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $113.34.

Insider Activity

In other news, CFO Paul M. Todd bought 17,000 shares of Fiserv stock in a transaction dated Monday, December 1st. The stock was bought at an average cost of $62.41 per share, for a total transaction of $1,060,970.00. Following the purchase, the chief financial officer directly owned 24,453 shares in the company, valued at approximately $1,526,111.73. This represents a 228.10% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adam L. Rosman bought 7,900 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were purchased at an average cost of $63.19 per share, for a total transaction of $499,201.00. Following the completion of the transaction, the insider directly owned 61,285 shares of the company’s stock, valued at $3,872,599.15. This trade represents a 14.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.00% of the stock is currently owned by corporate 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.