Flat Footed LLC Purchases Shares of 240,000 Fiserv, Inc. $FISV

Flat Footed LLC purchased a new stake in shares of Fiserv, Inc. (NASDAQ:FISV) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 240,000 shares of the business services provider’s stock, valued at approximately $11,772,000. Fiserv makes up approximately 0.0% of Flat Footed LLC’s portfolio, making the stock its 9th biggest position.

A number of other hedge funds also recently bought and sold shares of FISV. Oakworth Capital Inc. purchased a new position in shares of Fiserv in the 4th quarter valued at approximately $25,000. Private Wealth Asset Management LLC acquired a new position in Fiserv in the 4th quarter valued at about $25,000. Kimelman & Baird LLC purchased a new position in shares of Fiserv in the fourth quarter valued at $27,000. Goodman Advisory Group LLC acquired a new stake in Fiserv in the fourth quarter worth $27,000. Finally, Tripletail Wealth Management LLC acquired a new position in Fiserv in the fourth quarter worth approximately $27,000. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Insider Buying and Selling

In related news, CFO Paul M. Todd acquired 10,060 shares of Fiserv stock in a transaction that occurred on Wednesday, June 17th. The shares were purchased at an average price of $49.70 per share, for a total transaction of $499,982.00. Following the completion of the transaction, the chief financial officer owned 184,107 shares in the company, valued at $9,150,117.90. This represents a 5.78% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lance M. Fritz purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were bought at an average price of $51.95 per share, for a total transaction of $519,500.00. Following the completion of the purchase, the director directly owned 27,207 shares in the company, valued at $1,413,403.65. This represents a 58.12% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on FISV shares. Raymond James Financial reiterated a “market perform” rating on shares of Fiserv in a research report on Tuesday, July 7th. Susquehanna cut their target price on shares of Fiserv from $91.00 to $85.00 and set a “positive” rating for the company in a research report on Friday, August 7th. Truist Financial set a $53.00 target price on shares of Fiserv and gave the stock a “hold” rating in a research report on Thursday, August 20th. B. Riley Financial reduced their price target on shares of Fiserv from $69.00 to $66.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. Finally, BMO Capital Markets restated a “market perform” rating and set a $55.00 price objective (down from $60.00) on shares of Fiserv in a report on Wednesday, July 22nd. Six investment 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $74.20.

Fiserv Stock Performance

FISV traded up $0.63 during trading on Friday, hitting $53.21. The stock had a trading volume of 3,047,508 shares, compared to its average volume of 7,733,915. The company has a 50 day simple moving average of $51.65 and a 200-day simple moving average of $55.62. Fiserv, Inc. has a 12 month low of $47.04 and a 12 month high of $138.85. The firm has a market cap of $28.30 billion, a PE ratio of 10.21, a P/E/G ratio of 3.95 and a beta of 0.80. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.99.

Fiserv (NASDAQ:FISV) last released its earnings results 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 net margin of 13.42% and a return on equity of 15.80%. The firm had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $5.04 billion. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. Analysts expect that Fiserv, Inc. will post 7.26 EPS for the current year.

Fiserv 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.